Well, the time has come. A winner must be announced. And while we received over 30 incredible submissions, there can only be 1.
For the very first $500 for 500 Challenge we are pleased to announce our winner, Greg. No, not me… but a mysterious Greg T.
When asked “How do you define success as a trader?”, here’s what Greg had to say:
“Success as a trader involves a rigorous process of non-linearly getting better over time, it’s not just some arbitrary task. It starts with an interest, trading is a mental game a constant battle between you and your ego. Once you realize your objective you start to build little goals in how you want to get that interest done. You build these goals and they get more serious over time. Once these goals get more serious over time, then you start to put your whole into it. These little goals that you dedicate yourself entirely to become a passion, this passion becomes your everything. Successful traders learn to appreciate and to be one with the markets through self-discovery.
A successful trader acquires a level of skill that some will never achieve and it’s not a technical skill because math or coding can be learned over a period of time, it’s more of a qualitative feel of the market that’s hard to grasp. Trading is scary, future outcomes are never predictable and the inevitable does happen more than you think since markets are fueled by fear and greed.
Success as a trader means that you’re okay with what the facts are, with what the truth is, taking this internal struggle, this fear and figuring out a way on how to hedge against this fear and having it work for you rather than against you.
From my short lived success, trading was more than just about the profits it was the first time someone didn’t give me a law to abide by, the first time someone didn’t give me a list of credit requirements to complete, first time that someone told me that I can work 40 hours and every hour after that is overtime. It was the first taste of freedom that I actually had, me discovering myself and the market. I fell in love with what it took, the process and work involved. When you are trading you are not on a punch clock, you are living it.
Trading is more than just about the profits, it was the first time someone didn’t give me a law to abide by, the first time someone didn’t give me a list of credit requirements to complete, first time that someone told me that I can work 40 hours and every hour after that is overtime. It was the first taste of freedom that I actually had, me discovering myself and the market. I fell in love with what it took, the process and work involved. When you are trading you are not on a punch clock, you are living it.
You do what you have to do in order to get where you need to get and become, surrounding yourself with like-minded individuals plays a big role in your daily routine and what you accomplish. You can either choose to make your own environment (which is extremely difficult) or you can find an environment that will accept you, and lead you (on your own willingness) to new highs.
A lot of people are blinded by what the media paints for them and don’t make a conscious effort or put time aside into actually performing their own due diligence. Success as a trader means that you are not lazy.
Arguably what always comes back to me or rather speaks to me in my life was an understanding of what it took to get to where I need to be, remember it’s not a matter of what you want but what you need. There is so much to look at in terms of movement, and precision that needs to be done in order of getting to the next step. People tend to look at the total risk rather than manage active risk. You can get lost or overwhelmed very quickly. This industry and profession is very unique because anyone can come up with a strategy that will tend to yield them results at one point but it’s a combination of consistency, passion, and discipline in active risk management of residual/active returns on assets that makes you successful.”
Thanks for sharing your wisdom and experiences with us Greg. Hope you enjoy extra $500 in addition to 3 months of the Sang Lucci chat, on us.
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