Recently, someone sent me the following question: “Just how committed does a trader need to be?”
I don’t know that I can put a number to that. For instance, on a scale of 1-10 how committed should a trader be. But if I had to evaluate it on that basis, I would say he must be a “10.”
What is the value of commitment? How do you measure such a thing?
Most people have an “interest” in becoming consistently profitable traders. However, few possess the essential ingredient of “total commitment.” Total commitment is what is demanded for a high level of success from any endeavor. A trader with commitment will take the money away from 100 traders who have only an "interest."
Commitment is seen as Cortez burning his ships upon landing in Mexico. With less than 100 men, Cortez rode into Mexico City against 100,000 Aztec warriors and placed Montezuma, leader of the Aztecs, in chains. Few people have ever accomplished any goals without commitment to success. For some traders, commitment to success is not optional but mandatory.