key to success

gms · Nov 19, 2003

Quote from dbphoenix:

Unfortunately, a lot of people are encouraged to believe that if they want something bad enough, they can achieve it. Unfortunately, that just isn't the case. As I pointed out, we hear about the successes, but rarely about the failures, many or most of whom hung on long after they should have quit and moved on to something more achieveable.

One can't go solely by the comments of those who succeed. One must also consider the never-heard comments of those who believed in themselves yet failed anyway. That's just plain ol' survivorship bias.

Exactly so. Whenever a 'winner' is asked what advice they have for others, it's usually along the lines of "Perserverence". Of course, that worked out well for them, but not just because of perseverence. Lots of people have perseverence. It's not "luck", because there's really no such thing as luck. It's not who they know, because it would have to do more with who knows them. It's not talent, because there are plenty of unsuccesful talented people. It's just the odds.

dbphoenix · Nov 19, 2003

Quote from gerry875:

step by step he worked his way up and now he's the boss of a worldwide company with more than 70,000 employees. when being asked he admits that he had luck in his career - but also that one has to 'force' luck a bit every now and then.

All successful people say this, but few of them really mean it. You make your own luck by giving luck an opportunity to favor you, such as the understudy who goes on the night the Hollywood talent scout is in the audience. Luck? Maybe. But all the luck in the world wouldn't have made a difference if she hadn't worked to get the job then win the understudy's role.

harrytrader · Nov 19, 2003

Survival bias sampling probably not representative statistically

!

I will even say the contrary: the more you (only) wish something strongly the less you get it. But if you know How (the path or the plan) you will achieve something by refining little by little (because you can't know all the details at time 0) the more you will get assurance which is different from pure belief: you acquire it and didn't postulate it. Belief has not to be confounded with volunteer, you must be volunteer to do so but not by belief but by knowing the full extent of your capacity and also its limit. Because failure can have a devastating effect also when one overjudge its capacity.

Quote from AMT4SWA:

When everyone tells you that you can't make it or that you will fail, you have to just BELIEVE in yourself. I feel that "who believes the most...wins!". Only death can stop the person who TRULY BELIEVES! Lets see, in life who truly believed in their abilities;

Wright Brothers

Thomas Edison

Jesse Owens

1980 USA Hockey Team

General Patton

The Founding Fathers

Apollo 11 Crew

this is just a very small list of a range of people who had extraordinary results in their lives from the ability to Believe!

ptt · Nov 19, 2003

Keys to success in anything

beliefs, confidence, knowledge, patience, perseverence, humility, objectivity, integrity, complete honesty with yourself, focus, social skills, discipline

Keys to success in trading

all of the above (except maybe social skills), a profitable method that you can implement nearly perfectly (fits your temperment), adequate capital, ability to trade without thinking about the money........

dbphoenix · Nov 19, 2003

Quote from ptt:

Keys to success in anything

. . . social skills . . .

I wouldn't go that far. Many of the most successful people in history, even if you limit yourself to the business world, have been ruthless, to say the least. There are a few, like Hershey, who are reputed to have been real sweethearts, but they are the exception, not the rule.

oten · Nov 19, 2003

Quote from QdzResurrection:

What do you think is the key to succeed in life as well as in trading?

Patience.

Self confidence, trust that the Universe (or if you prefer God) is on your side, and a constructive belief system (one that believes you can achieve whatever you decide to).

Add, a written goal(s), persistence, a positive outlook, and yes the patience to have it manifest at the proper time.

Oten

ptt · Nov 19, 2003

Quote from dbphoenix:

I wouldn't go that far. Many of the most successful people in history, even if you limit yourself to the business world, have been ruthless, to say the least.

being ruthless is a social skill, an introvert can't do it

dbphoenix · Nov 19, 2003

Quote from ptt:

being ruthless is a social skill, an introvert can't do it

If sociopaths are exhibiting social skills, then I suppose you're right.

DTK · Nov 19, 2003

You all mean that itâs not having expensive computer and eight monitors to look cool, reading a bunch of newsletters for ideas on how to sound cool around your friends and on ET, and a foolproof system to rake in the cash without putting in any effort?

S**t, back to square oneâ¦

â¦
..
.

If I had to choose one, I would go for discipline.

electron · Nov 19, 2003

Quote from dbphoenix:

If sociopaths are exhibiting social skills, then I suppose you're right.

Of course, they do. Hitler is one case in point. He used them masterfully to manipulate the crowds. Find me a more 'successful' sociopath.

How do you measure social skills, anyway? By the ability of those who possess them to manipulate others. Hilter was better than most people ever will be in this respect.