T7 Wealth Creators

Persistence Pays Off

The immortal Bruce Lee once said "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times". Much later in 2008, Malcolm Gladwell writes in the "Outliers: The Story of Success" about the 10000 hour rule behind success. The gist of this is that it takes certain amount of intense practise to master a complex skill.  Once mastered it could change our life. Success doesn't come easy. There is lot of grind behind it. Failures are inevitable chapters behind successful pages in life. If we have found that one thing that we love, we care to do and we wish we could make our vocation, failures are just one another step towards success. There is a lesson to be learnt from each failure which will tell us how not to do things. The important thing is to stay on course, to persist until we achieve what we set out for. 

Glenn McGrath picked 563 test wickets mostly by putting ball around the same spot on a 22 yard cricket pitch. He was not express pace. He didn’t swing the ball prodigiously either. But he persistently probed the batsmen around a certain point on the pitch.  As traders we should have the ability to be persistent with a strategy once we have found one with acceptable trade offs. It is ok to try different things but once identified a particular method needs sufficient time and effort on our side for it to work for us. 

Most often it becomes difficult to trust something blindly and hence difficult to persist. In the information age where information is everywhere, it truly can get confusing.  This is why we recommend objective results to back a trading plan. This is why our flagship product TrendShikari NTS comes with a strategy file to backtest the system from 1990 drilled down to year, month or date. Its the objective data spanning three decades which gives us the confidence to persist with the signals from the system. When we persist with a well rounded and tested strategy it pays off handsomely.