One of the major accomplishment of becoming a successful trader is money. As Gann rightly told 95% of trader lose money so 5% trader makes money from 95% of trader, so huge money is waiting for Successful Trader. But not is not the ONLY thing you will receive there are lot many things waiting for you which we will discuss in below post. Overtime money will be least importance and other rewards will start taking over.
The most valuable rewards of becoming a successful trader are
- Iron Clad Discipline
- Being more Patient
- Freedom to do things at your Will
- Understanding Risk vs. Reward
- Brain Growth
These are the things that will stick with you forever and that will improve and enhance your life as well as your relationships with other people, much more so than just money alone can…
1. What freedom actually feels like
The single biggest reward of being a successful trader is obtaining true personal freedom of doing things you Like, You are passionate about and which will never make your tiered. Most of professional traders HATE weekend as the market will be closed. Most of readers will be in 9-5 Kind of job and they Love weekends, They will always complain about the Job.
Let me add a CAVEAT It won’t be easy, it may not happen at all for you, Just like India’s Booming startup world 60-70% of start up close in 2 years of inception, Trading is more harder than running a start up as there are people waiting for you to do mistake and they will take away your money. Its a cut throat competition. Like it or not, in today’s society, the game is money, and you either play the game or you live a mediocre existence, at best. So Successful trading give you the luxury of spending time as per your wish and allowing you to work for yourself not for any other.Be your own boss
2. Helping your Brain to Grow
The markets are in constant flux. No one day in market is the same, Market reaction is different for the same scenario. Like in 2009 when UPA won we got a 20% UC and when BJP came to power in 2014 we rallied before the event and on the day results were out corrected almost 10% same day after making a top.
Markets present you with an ever flowing river of unpredictability and novelty.
Novelty stimulates the brain. It helps excite dopamine production which is helpful for building new memories, learning, and creating new neural pathways.
Novelty also increases the activity in the pre-frontal cortex (PFC), which helps you build greater insight, empathy, and self-control.
The novelty of the markets is simply good for your brain.
3. How patience and discipline can change Life
Everyone knows that patience and discipline are very important and valuable virtues, but few people truly understand just how powerful they can be like a successful trader does. The only way to get to the point where you are making money in the markets over a period of months, is by being consistently patient and disciplined.
This all might sound cliché to you at this point, but that’s only because it’s so true; patience and discipline will make you money faster than anything else when it comes to trading. My results improved what was most exciting to me personally was that i could suddenly see things I hadn’t been able to see before. But, you should realize that one of the greatest things you will learn by becoming a successful trader, is what patience and discipline actually means and how valuable they are. After all, to become a successful trader, you must learn to be patient and disciplined in the face of constant temptations (to over-trade and to over-leverage), and not many people can do that consistently.
Successful trading will teach you how to control yourself in tempting situations by being focused on the long-term reward rather than what ‘feels’ good ‘right now’.