Having read the book for like 30 minutes, I came across something and I got stunned. And I can tell you, that was one of those "HMMM" moments of my life. I paused for some minutes and kept asking myself the same question over and over again: "Is that the solution?" Perhaps I was only being over-reacting but have got good reason for that. The part that made me feel that way was the part in which he said:
"It is not difficult to determine when to call it quits. However in trading, I have seen people continue trading for a long time despite the fact that they know that they are not making any money! It may be that it is hard for one to accept the fact that trading is not for him or maybe it is the hope of winning in the end that is not letting him quit the game. Nevertheless it is very important for a person to accept his limits and understand that there are a lot of things for which one does not have the necessary skills, emotions and/or aptitudes. Every one of us can’t be a successful auto mechanic, plumber or a heart surgeon! In the same way, stock trading may not be appropriate for every one of us!"
Good Idea?! Well, you can say that again. It's like telling your son: "My boy, listen carefully to what I have to say. If you are into a business and it's not working out fine, move on, go into another business probably you failed because you ain't destined to do that business. If your new business turned out to fall on the losing side, you just have to do what I told you - run! If you ended up doing all businesses in this world and you failed badly, probably there ain't any business that suite you on earth, go out of space to find that perfect business."
Sounds ridiculous? I know it does but that just a simple way of illustrating what the author said. The author seems to be missing something, you know what that is? The fun part! Business isn't everything about making money. Business should also be fun. How do you do that? How do you combine making money with fun? The answer is quite simple but many people seem to be missing it all the time - Involve in the business you have passion for.
If you don't love to trade, don't invest, because if you do, you might end up doing what the author suggests - Take your leave. If you do love trading, I suggest you start right now. The reason is quite simple, when you are involve in what you're passionate about, you will always do everything to make it work well.
The author said he had seen a lot of people continued trading despite the fact that they weren't gaining. These people will continue to lose if they don't seek new ideas. Instead of making a conclusion (I can't do it) why not ask yourself a question (why am I always losing?). Asking yourself that question will make you see things you had taken for granted. Always involve in things you love in order to have a cause to fight when things go wrong.