I am going to prove to you the No. 1 reason why people fail at anything in life, and why this is a huge advantage for you.
Let me make it clear, however, that I do NOT want other people to fail. But this is outside my control and it’s going to happen whether I want it or not.
A few years ago I was teaching a seminar in London on how to invest in stocks to an audience of about 200 people.
At the end of the seminar a young gentleman approached me and said:
“Alessio, aren’t you afraid of sharing all your methods and strategies with us? Surely, if everyone is going to start using your methods, it is going to make them less effective, isn’t it?”.
I had to smile to myself when I heard this. He had a good point, and it is a question I get a lot. But here is something he did not know and I am going to share it with you for the first time.
By the way, you may not like what I am about to say, but I swear to you that it is the honest truth and it is the REAL reason why most people fail:
You see, the truth is that most people are LAZY!
Most people don’t want to do the hard work. I can show you how it is done, but I know that 80% of people will never follow through or take action on anything.
By the way, I am going to confess to you that I can be lazy too. Except I’ve found a way to overcome that (read below).
As I said, there were 200 people in that seminar. But I knew that 160 of them will go home, forget everything I said and not lift a finger to achieve their goals. So realistically, only 40 of those people will actually DO something.
But it gets worse… much worse!
You see, here is something else you should know about your fellow human beings: they are scared of failure!
Even those people who actually do take some action, 80% of them will give up the first time they lose.
In that seminar, I knew that 40 people will actually take some action and use the methods I taught. But I also knew that 80% of those people will change or “tweak” those methods the first time they lose.
Why do they change the methods?
Because most people cannot tolerate the idea of taking losses, even if the losses are small. Every professional trader, however, knows that taking small losses is normal and inevitable.
The great 1980s trader, Richard Dennis, once said that he could print his methods in the newspaper for everyone to read, but most people would NOT know what to do with them.
Dennis was right, but as I have said, even if they did know what to do with them, people have a habit of changing something that works to make it “perfect”. And that is when everything goes wrong.
WRITE THIS DOWN: Perfection is the lowest standard!
Your fellow human beings will delay making an important decision until the “time is right” for them. Until everything is “perfect”.
I ask you, when is the time ever “right” or “perfect”?
Do you think Microsoft would have made any money if they had waited for their Windows program to be “perfect”? NO! Instead, they make mistakes, bring out a new upgrade to correct their mistakes and then they charge you for it!
However, here is the best part: you can take other people’s laziness and fear of failure to YOUR advantage!
Knowing that most people will NOT take action to achieve their goals and that they are afraid of losing, should put you ahead of them – as long as YOU take action!
As I said, I am lazy too. I also delay making important decisions. It is important that you’re honest about yourself so you know what to do about it.
The difference is that I had someone to literally “kick my butt” into action! That is why a coach or mentor is so important.
Studies have shown that having someone that can “push” you into action – whether that is your parents, a coach or mentor – is far more likely to result in success in later life.
My mentors have all slapped my face and gave me a kicking so I stay focused on my goals.
Trying to do things by yourself can be difficult. But having someone to keep me on my stock trading and investment goals helped me a lot when I quit my job and started trading full-time.
Did this article help you? Leave me your thoughts below:
Starting to get the impression that the person pushing me most at this point in life to succeed is yourself Alessi; thanks to your guidance and motivating articles! Much appreciated!!
So, so true Alessio and this post came into my inbox at just the right time. It’s a timely reminder about one of the new trading methods (Volcap) you gave class attendees just recently. I’ve been paper-trading it this week and have been playing around with the stoploss!! You recommended 25 pips and you mentioned that others have used 100pips. I can see that had I kept to your suggested 25 pips there would have been losses this week. But, I also tested with larger stoplosses, and they lost too!! (but larger amounts!) 😉 I get it! Next week onwards, it’s 25pips SL all the way! (Especially trading it for real.) 🙂
“QUOTE”The great 1980s trader, Richard Dennis, once said that he could print his methods in the newspaper for everyone to read, but most people would NOT know what to do with them.
Dennis was right, but as I have said, even if they did know what to do with them, people have a habit of changing something that works to make it “perfect”. And that is when everything goes wrong.
“UNQUOTE”
LOVE IT! Excellent article 🙂
PS: I’m registered to attend the Webinar with you and Paul.. Thanks again!!
Thanks Lesley – you hit the nail on the head! In the real world of trading, consistency is the key. And about the volcap, yes keeping the risk small to a 25 point stop is better as the wins are signficantly larger. Well done and good trading!
Alessio, I have to thank you so much for your charisma, insight, and knowledge about life and about trading markets! Before going to your webinars and following you through social media, I had NO CLUE about the markets (worst part was that I thought I did know!). All the mistakes you talk about doing, I’ve done and THEN some–like buying Silver at 34. Now, I’m finally getting to the “losing less” stage.
But most important, you’ve been a great mentor and someone that I tell people to follow because of your passion to see people financially free! Thanks for changing my life!!!
Nice article! Thanks Alessio!
Totally agree, people are lazy, that’s our nature, we want everything on the silver plate an instant results by doing nothing, we believe in miracles but only believe wont change nothing without hard work, we know that but still doing nothing about it, we don’t want to spend time and money to make more money we want instant result that’s why we choosing casino (gambling)hope that miracles can happen instead of consistently earning money and having trust in our actions.
Thanks Alessio great article
Looking forward to the webinar… recently you have sparked my attention even more… it takes work at anything you want to succeed at… perseverance and continuous learning are necessary to accomplish the goal, thanks for the insight..
Ofcourse it helps as like every work of ursd Alessio. Keep Sharing
Bless
Hello.This article was extremely motivating, particularly since I was investigating for thoughts on this issue last Saturday.
Since i saw this article i read it almost 5 times, This article urging me and motivating me to invest in forec however i have never done forex in my life infect dont knw the rules how to trade in forex.I want to ask that How much initial money should i have to invest in forex? My salary is too much low around 300$,Please advise me shall i invest in forex? thanx in advance
Great article Alessio — help keep us on right mindset…
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