The Four Minute Mile and Trading

Going back to the issue of lack of confidence in trading and the comment by fxoulier I have this reply. One of the issues traders have is that they feel alone for the most part and don’t have role models they can follow where they copy their trading..  As I also mention in my Overcome Your Fear in Trading book many traders suffer from fear of failure, so what kind of mind set does a trader need to have when this is their situation.  Well let me give you this little piece of history from Wikipedia.

In the sport of athletics, the four-minute mile is the act of completing the mile run (1,760 yards, or 1,609.344 metres) in less than four minutes. It was first achieved in 1954 by Roger Bannister in 3:59.4.[1] The “four-minute barrier” has since been broken by many male athletes, and is now the standard of all male professional middle distance runners. In the last 50 years the mile record has been lowered by almost 17 seconds

When Roger Bannister ran the four minute mile, he broke more than the previous speed record he also broke the belief barrier that it could be done.  He had to believe he could do it  first and when other athletes knew it was possible they achieved even greater feats of athletics, beating his record by 17 seconds.  How did Roger Bannister get himself to believe he could do what was seen as impossible?  He had to believe in the impossible,backed up by evidence.

History is full of people who have proved critics wrong and achieved what was considered impossible which then went on to be commonplace. What about flying?

The Wright brothers, Orville (August 19, 1871 – January 30, 1948) and Wilbur (April 16, 1867 – May 30, 1912), were two American brothers, inventors, and aviation pioneers who were credited[1][2][3] with inventing and building the world’s first successful airplane and making the first controlled, powered and sustained heavier-than-air human flight, on December 17, 1903.

They had to strongly believe it was possible to fly before they could fly.  You need to strongly believe in your ability to become a profitable trader in order to become a profitable trader.

Unlike Roger Bannister and the Wright brothers you don’t have to believe in something that no-one else has yet achieved. There are plenty of traders making a good living from trading and there is no reason for you not to can do the same and even exceed their performance just like those who came after Roger Bannister.


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