The Importance of Staying Grounded

When you speak with other traders who are successful at what they do its amazing the amount of little gems of knowledge you can pick up. I believe this is the type of game where you are always learning and there will probably never be a point where you can say you have mastered the art of trading.

The great Warren Buffet always said you should “brag about your failures but be humble about your successes“. This is some superb advice since it will allow you to stay grounded mentally and its the mental side of this game which is the hardest part to conquer. It is surprisingly easy to go on a long winning run and then begin to feel invincible with your trading or betting.

I admit that when I first started I used to love bragging about making 3 figures in a day when I knew my friends were out working the hard slog. I soon noticed this was the wrong approach to life in general as I realised that I never ever mentioned my losing days to them. These days, I am the opposite. I very rarely talk about actual figures made and I feel less pressure to do well just so I can have a big money win to boast about!

So, the next time you hit a big win its good to feel happy about it but try and keep it to yourself. Chances are your friends are either not interested or don’t believe you anyway! 😉