Time

Have you ever told yourself there’s never enough time in the day? I think we’ve all thought that to ourselves at one point, but if you’re not willing to shift your priorities to make time for trading, then forget about becoming a trader.

Sorry to put it so bluntly, but contrary to popular belief, trading is not a hobby.

Trading is not a hobby.

Trading is not a hobby unless you want to lose money.

Golf is my hobby. I pay to play golf. Golf is Tiger Wood’s business. Tiger Woods is paid to play golf.

See the difference?

Trading is a business

You have to devote yourself to trading just like you would with any other business in order to be successful.

So, it’s time (pun intended) to ask yourself this: “Can I balance my time and change my lifestyle to make room for trading?”

I’d better hear a resounding “YES!”

But before you can even truly answer that question, you need to first figure out what your daily priorities are and determine whether or not you can make trading THE number one priority.

A good way to find this out for yourself is to list your daily activities, and then prioritize them. If your daily priorities take up all of your time, then forget about trading.

So, take a moment to figure out what is going on in your life because it’s very important to balance your time and priorities, not just to become a successful trader, but also to live a content, meaningful life. We all want to be wildly profitable, and initially we may drop everything else to get there, but in the end an unbalanced life will lead to personal and/or professional failure.