The Paradox of Successful Trading™ (a phrase I coined) describes the frustrating truth that there are only a handful of ways that most traders lose, while there is a seemingly infinite amount of ways to succeed… yet so many fail. Why?
Don Hensley from Speedtrader posits that the issue is rooted in the fact that to succeed, we need to be, act, and behave in the markets in uncommon ways. We need to operate individually — not only from the herd (the majority of losers), but from the winners as well (we need to have our own unique edge). This is far harder than it looks and contradicts nearly every human instinct we have.
In the latest episode of the Trading with Chicagosean podcast, Don and I discuss being uncommon, as well as some insight he’s gleaned from the brokerage side of the business into what separates the winners from the losers.
A recipe for success, grit, mindset, and putting in the work are all required. There is no shortcut.
You’ll find Don’s perspectives interesting, and he’s a very engaging guy and a pleasure to speak with and listen to. Enjoy!
Subscribe to the Trading With Chicagosean podcast here.