How to Win on Wall Street

Adam Sarhan |

I look at capital markets (stocks, bonds, currencies, and commodities) as the last economic frontier. For the purpose of this article, I’ll focus on Wall Street, but the same concepts apply to other markets. It is the one place on earth where anyone can make (or loss) a fortune–regardless of their background, skill-set, formal education, natural physical talent, race, religion, sex, creed, or any other prohibiting factor you can think of.

You Can LEARN How To Make Money

The single best way to consistently (legally, morally, and ethically) win on Wall Street is to learn a set of skills necessary that allow you to do only one thing: Make Money. The good news is that anyone can learn these skills, providing they are willing to keep an open mind, work hard, and be flexible in their approach.

You Must Be READY to WIN:

Accomplishing this feat is simple, but not easy. It requires a great deal of hard work, dedication, tenacity, and most importantly introspection/personal growth. This heightened sense of responsibility is usually the biggest obstacle most people face. There are a myriad of reasons why people have a hard time overcoming obstacles in their life but they are outside the scope of this article. Suffice it to say, most people are not comfortable leaving their self-imposed comfort zone (most people tend to “blame” outside circumstances and as a result play the victim and not take responsibility for their life).  Becoming successful on Wall Street requires you to learn a set of skills necessary to make money but really be ready to push yourself past your comfort zone. How you think is a HUGE part of being successful in life and in the market. Take inventory of your thoughts. In order to win, it is important to think like a winner. Once you master this process you will achieve success beyond your wildest dreams.

No “Right” or “Wrong” Way:

One universal truth, in the market and in life, is that there are many ways to WIN. Unfortunately, most people fall in love with one approach and to their personal determent fail to grow because they spend all their energy bashing other approaches instead of seeking the truth. In short, you need to ask yourself what is more important, being right or making money? I hope the answer is obvious.

Your Most Important Task:

Your most important task is to make money in the market. Everything else is noise. Doing so does not happen overnight and it is much easier to learn alongside someone else than to go it alone. Find a reputable source, someone you trust, and learn from them. Another interesting universal truth, in the market and in life, is that people can look at the same facts and interpret them in many different ways. For example, the S&P 500 is trading at 1900 is that expensive or cheap? Just like beauty, value is in the eye of the beholder so your job is to find a set of rules you can follow which makes money in both bull and bear markets. Then your job is to be true to yourself and follow those rules to financial independence.

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DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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