To earn more, you have to learn more.
Like in any business in the world, in stock trading the trader has to learn continuously on daily basis. To continue your performance as a good stock trader, the trader has to consistently focus on learning, development and performance improvement.
According to the book mindset, written by Stanford University professor – Carol Dweck, there are two types of people in this world. One with a growth mindset and other with a fixed mindset. With a fixed mindset, people believe that their abilities are inborn and unchangeable. The people with a growth mindset believe that something can be improved through continuous practice, hard work and dedication. The growth mindset people believe that the talent or inborn abilities are just the starting point. The mindset is about your belief system which is the basic factor in your overall growth.
So, to earn a consistently good return in the stock market, the stock trader has to develop himself continuously in any way, say by learning, reading, mentoring, coaching or attending a training workshop.
While doing stock trading he has to challenge himself when he faces any difficult situation that seems impossible for him.
The stock trader has to accept the outcome of his trade, whatever it is. He has to continuously update his pertinent skills, understanding and knowledge about stock trading and always finding new strategy if existing doesn’t work. If he fails in attempt of winning trade the same to be considered as feedback and should be taken as learning.
So, the stock trader has to focus on a growth mindset and not fixed mindset if he wants to keep continue his winning game in stock market.