What is real importance of trading?

Almost every successful investor that I have encountered has realized the lesson of the Holy Grail metaphor-that success in the markets comes from internal control. This is a radical change for most investors. Internal control is not that difficult to achieve, but it is difficult for most people to realize how important it is. For example, most investors believe that markets are living entities that create victims. If you believe that statement, then it is true for you. But markets do not create victims; investors turn themselves into victims. Each trader controls his or her own destiny. No trader will find success without understanding this important principle atleast subconsciously Let’s look at some facts:

Most successful market professionals achieve success by controlling risk. Controlling risk goes against our natural tendencies. Risk control requires tremendous internal control. Most successful speculators have success rates of 35 to 50 percent. They are not successful because they predict prices well. They are successful because the size of their profitable trades far exceeds the size of their losses. This requires tremendous internal control. Most successful conservative investors are contrarians. They do what everyone else is afraid to do. They have patience and are willing to wait for the right opportunity.

This also requires internal control. Investment success requires internal control more than any other factor. This is the first step toward trading success. People who dedicate themselves to developing that control are the ones who will ultimately succeed.