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Persistence is a virtue and a belief about oneself that every individual who has ever excelled in any endeavor has possessed. It is a common word that individuals who have become outstanding at their craft often use to describe how they accomplished their goals in life. They were able to steadfastly continue pursuing their goal, refusing to yield to the opposition. Many traders have lost several fortunes in the pursuit of their ultimate goal. The perseverance they demonstrated is common to all successful people. The ability to pursue a desired outcome with tenacious perseverance is a quality that every highly successful individual has developed. |
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It is one thing to perform a single act requiring control of your beliefs, confidence, or courage. It is another thing altogether to continue using empowering beliefs, possessing confidence and courage for a prolonged period of time in spite of continued opposition. A mental fatigue tends to overcome your emotions when you must persist in a course of action for a prolonged period of time. When you have persistence, you are able to fortify your beliefs while pursuing a difficult course of action until the desired outcome is accomplished. |
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Without a firm character trait of persistence, no successful individual would be able to overcome the challenges encountered while in the pursuit of excellence. Without the virtue of perseverance, no outstanding trader would be able to attain the outcome he or she desires. Individuals who are able to remain persistent will be able to overcome cowardice, stubbornness, and other fears. |
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One challenge posed by persistence is that it is often mistaken for stubbornness (which is a major vice). Stubborn people will not abandon a course of action when they should. Stubborn people will not be receptive to the idea that the present course of action is not working. In order to become outstanding, people must be flexible in their thinking. Isn't it interesting that as people age, their minds as well as their bodies often become more rigid? |
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All outstanding individuals have mastered the ability to control their mind, maintain faith that they will accomplish their goal, maintain confidence in the face of challenges, adhere to the discipline required, and remain persistent in the pursuit of their outcomeall the while remaining flexible in their tactics and approach. Mentally people need to see that the outcome they are experiencing is not what they desire. Consequently they must have the flexibility to modify their approach until the outcome is aligned with their desires. Delusional individuals continue doing the same thing, all the while thinking that they will get a different outcome. Traders are confronted with a multitude of constantly changing market variables. |
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