Print Page - "Slow success builds character, fast success builds Ego." Ratan Tata

"Slow success builds character, fast success builds Ego."

-Ratan Tata

I saw this quote somewhere and it struck me that the pain that is felt, that forms the hard skin of a successful trader, is what makes one a master in that area and it is the character that is exhibited during the learning process up until mastery that makes one valuable and successful and have the right character of carriage in that area.
It relates to many of us who decided to give trading a try and soon got discouraged as others continued, unwaivering in their effort to become good and make profit from it.

It is slow and steady that many times win the race and it is what makes a potential trader learn patience having been steadfast enough, despite the losses.
Even when a newbie trader has attained much profit from attempting to trade frequently, their approach towards the subject of trading and their knowledge base as well as the language or use of terms and words to show intelligence about trading, would be a great difference that is noticed at once.

I would like to include some variables that includes time, access to funds, access to information, ability to perform and remain disciplined, as contributions to what makes one a successful trader, but in reality all these variables and more is responsible for shaping ones character in the long run, by either making them humble or egotistical after they gain success as a trader.

* If you have happened to know a trader personally or admire one from afar, what character from your perspective, does such a one portray unknowingly that makes you know they are truly a trader and a very successful one at that?

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

-Ratan Tata

I saw this quote somewhere and it struck me that the pain that is felt, that forms the hard skin of a successful trader, is what makes one a master in that area and it is the character that is exhibited during the learning process up until mastery that makes one valuable and successful and have the right character of carriage in that area.
It relates to many of us who decided to give trading a try and soon got discouraged as others continued, unwaivering in their effort to become good and make profit from it.

It is slow and steady that many times win the race and it is what makes a potential trader learn patience having been steadfast enough, despite the losses.
Even when a newbie trader has attained much profit from attempting to trade frequently, their approach towards the subject of trading and their knowledge base as well as the language or use of terms and words to show intelligence about trading, would be a great difference that is noticed at once.

I would like to include some variables that includes time, access to funds, access to information, ability to perform and remain disciplined, as contributions to what makes one a successful trader, but in reality all these variables and more is responsible for shaping ones character in the long run, by either making them humble or egotistical after they gain success during trading.

* If you have happened to know a trader personally or admire one from afar, what character from your perspective, does such a one portray unknowingly that makes you know they are truly a trader and a very successful one at that?

That's a person's character if reaching success would change him as a different being, ego was just his mindset thinking that he gained power. Actually it's not by nature, it's born attitude by means of advantages that a person came up with.
I'm not pertaining generally, there's still a person won't develop that kind of behavior and if you're a trader who embrace successful journey then keeping low profile would be best not an egoism.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

* If you have happened to know a trader personally or admire one from afar, what character from your perspective, does such a one portray unknowingly that makes you know they are truly a trader and a very successful one at that?

Real traders display a character of emotional balance because of their years of mastery of the emotional side of trading. These people have learned this skill from trading in the live market, and it has affected their lifestyles so much that they no longer make decisions based on strictly emotional conditions.

Slow success in trading led them to the mastery of their emotions in trading, because if they had had very fast success in trading, they never would have agreed that they needed to gain more emotional control so as not to make decisions prompted by it.

In which case I have no character and no ego lol

Not that i'm such a failure, but my old business failed to the point I accumulated huge debts. I'm not complaining, I learnt a lot, I still got a job I never went to jail. Yes, my crypto journey is very slow as every extra I make is split between DCA and paying back my old loans, my freedom will be achieved but in many more years.

Quotes are dumb. I know one or two people who had fast success but were generous and went to 100% charity, I didn't feel even one bit of ego from them.

I know many more people who have no success but keep trying and have super big egos. Majority traders in forex was like this. Pretending fake success with BMWs and Rolex in profile pics ;)

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

This is very true as with fast success it is hard to understand the pain it takes to reach to the top. Whereas slow success is a mix of failure and pain through which a learning curve is formed. I have never seen a trader getting successful after one or three trades. It takes time, patience and failure to make big in trading. The experience gained through slow success always help in the long run.

Quote from: Bureau on May 18, 2024, 08:41:30 AM

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

One thing is certain, those who jump into fast success might only be temporary and will definitely fall again and face struggles and hardships along the way. But if you take your time and slowly achieve your goal and become successful, that slow success will help you reveal the true potentials you have that will lead you to achieve your goal slowly but surely.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

No one should get surprised this is the case as we have seen evidence this is true many times on the past, when a newbie invest in a meme coin and they obtain huge profits, they come to consider themselves as being natural expert traders, so they believe they cannot do anything wrong and invest in an even larger amount of meme coins thinking they have the Midas touch, and when the market finally shows them this is not the case, they cannot believe it and keep pushing to obtain the results they got previously, just that this time their results will be nowhere near as positive as they were and will lose everything they gained so far and even more.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

They are humble and always willing to help others. As much as they're already successful, they shouldn't get into others welfare.

But being helpful, you know that they're there to help others and get to familiarize with trading. Not that they're going to help in the form of a paid webinar and they'll name it as a "trading masterclass".

I know that many of us here probably are familiar with these kind of classes that you get few to almost nothing but the fee is expensive.

Quote from: slaman29 on May 18, 2024, 08:37:37 AM

I have seen people who act like this, and most likely if they keep their big egos, reaching their trading goals and success will be far possible to happen. Traders who focus more on what will impress other people instead of proving to theirselves what they can do in trading will certainly have a hard time on achieving their own success. It’s like they do trading not to gather experience and be skillful on it, but to show to other people what they got in trading, even if it means posting fake photos in their account so that people will praise and envy them.

Although this statement is correct but it is simplifying it because in reality things are a lot more complicated than that.

I'd say the personality of the person and how they go about things is the important factors. For example this statement is not correct about someone who is gambling and calls that "trading" but takes a long time and a lot of effort to "get lucky" and make a profit (reach success). Because in this case, despite the "slow success", it can not be categorized as a success because it is just dumb luck.

Like if you keep buying random shitcoins and lose 10% on each of them but suddenly after a year of losing, you buy a shitcoin randomly and it pumps 1000%, you can't call that a "success". That's just winning the lottery!

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

Really profound quote and I wholeheartedly agree with this one, because in some way it does make sense and anyone can probably easily find an example in their life that would match this quote. I would really love to read more about this quote because I feel like this isn't about trading and that there's some more context behind what this one means and I'd love to have a read on that if there is a context that exists. The scenario that I can see that matches perfectly with this quote are those people that won the lottery and then suddenly the way they treat other people suddenly changed into something that's condescending or that they think that the other people are inferior to them.

Quote from: blckhawk on May 19, 2024, 05:56:10 AM

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

Well, I loved the quote the moment I read it because at that point, I was deep in thought and was surfing the net and there was really no story behind the quote as at the time I saw the quote.
You know that the truth is, many quotes we read or make during moments of deep thoughts can be interpreted to mean something else for another person. That is, this quote could mean something different to you just as it did to me at the moment I read it meaningfully.

Quick success from gambling or betting or lottery, in my opinion isn't success at all but just luck. Although it involved the effort of the winner, with funds and tech-know-how to predict or guess correctly sometimes, but the results is often due to probability.

The success I mean here, refers to starting at a task because the end result would be profitable for long. You do the task simply because you know that the knowledge and investment of time, attention and funds would make you a millionaire someday.
Hence why trading, being a general and more common ground were an investor with keen interest must earn some profit at least no matter the loss, made more sense as I could relate it to this quote.

Quote from: Cryptomultiplier on May 19, 2024, 07:05:16 AM

Quote from: blckhawk on May 19, 2024, 05:56:10 AM

Well, that's the other part that I didn't add in my previous post, I was focused on the fast success builds ego part of the quote but definitely a true thing, low and slow will always make the best results. I wouldn't say luck though when it comes to gambling because math exists and within it is probability and if you're smart enough, gambling can also become the slow success part, one good example of this is a math teacher that was winning a lot of lottery in her state because she was calculating the probability that she was able to hit the right numbers and win multiple lotteries without a problem, see the slow process there. Now for the context of the quote, is there like a way to know what's the context to this quote?

Quote from: mirakal on May 19, 2024, 12:08:41 AM

Quote from: slaman29 on May 18, 2024, 08:37:37 AM

I know many more people who have no success but keep trying and have super big egos. Majority traders in forex was like this. Pretending fake success with BMWs and Rolex in profile pics ;)

Dude I got no idea what you just said in the first sentence but anyway nah I don't think anybody is confused about ego and their effects, trading is hard to profit even when you're a nice guy and doing your best.

It's definitely much more harder to profit if you're not focused. Same as any kind of job, but in trading you're also relying on luck more than other jobs.

Trust me, you just work hard, stop listening to dumb quotes about slow or fast success. Who the heck wanna build character when they chasing profits anyway lol

Quote from: Bureau on May 18, 2024, 08:41:30 AM

Fast success does not increase your experience while slow success makes you able to learn from your mistakes and don't repeat it in future. People are happy when they see that they are regularly winning but when adverse time initiates then they are not able to minimise their mistakes as they don't have work for mistakes minimising.

Steady and slow success has greater impact and this success is due to your hard work but people often get tired when they don't see any success two or three times. Those who don't lose their hope after failure and try again and again by reducing faults and utilizing knowledge are the real traders and due to their patience and talents they will become successful traders very soon.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

Yes you're right, I have seen people getting into the wells of ego because they were suddenly profited with a lot of money. Money can bring happiness and comfort only if you have worked hard to earn it and you're capable enough of holding it.

If you have become rich suddenly then in most cases you don't know how to handle the money and fame along it. People will also get attached with you because money and handling them is also a big job.

This is so true as regards to trading. There are so many stories of people who are just lucky to be in the right side of the market and they end up making so much money within a very short time and this often make them become so full of pride. The end is always disastrous because they will abandon risk management and continue to over leverage until they burn their account. We know that trading have a way of humbling anyone because there is no expert in the market.

I have a brother who deposited $50 into his trading account and was lucky to be in the right side of the market during NFP news release, so he took the account to $1,500. He was too excited and overwhelmed by such development and before we know, pride sets in and instead of withdrawing the funds, he decided to take it to $5,000 with plan to withdraw $4,000 and leave $1,000 in his trading account. It was within two days he blew the account and was left with nothing. There are many stories of events like this and it only shows that slow and steady is the way to go.

Those who follow the due process which is learning the strategy, followed by money management and then mastering trading psychology will never make such mistakes.

Definitely this line has huge importance. Moreover if you research about Ratan Tata, then yes he has done many hardwork and now is one of the richest person of India. This combines with trading, as people follow quick and short strategies to take huge risk and earn good money. Now once if they succeed through this they develop an attitude or ego that makes them very harsh on other strategies. Whereas if a person who follows safe strategy and earns small profits, knows the value of all techniques. So yes, we should always avoid the shortcuts.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

It is true in life and in this cryptocurrency market, it is still correct.

It is even amplified in this volatile market where people can easily get massive profit by either investment or trading in a bull run. Its correctness will be reflected in a bear market or in market corrections when easy profit will quickly vanish if people don't have experience and skills to manage risk to secure their profit and initial capital.

People are easily to think they are genius in this market even they are only newbies and if they use leverages, soon they will be taught by the market with liquidations in Long squeeze or Short squeeze.

Quote from: Bureau on May 18, 2024, 08:41:30 AM

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

Very true. There are a lot of traders that want to win big and faster or earn a lot in just a few trades and stake a lot of their capital just so that they can have a huge return or reward, but eventually some and most fall so deep because of that mistake. That's why it's very important for a trader to have a lot of patience in trading because trading is such a hard field in crypto, and if you want easy and fast money, then trading is not for you. Trading should be treated with care and cautiousness because, with just one mistake, it will cost a gambler a lot. I once made this mistake. I thought that if I had little knowledge, skill, and experience in trading, I could stake a huge amount and earn a huge amount in return, but it didn't go well because my funds couldn't take the downtrade and burn all my capital. It was my first great loss, and I will never do it again.

He is right, if we look generally at the world, people who gain success very quickly by any means tend to face failure quickly after that as well, and the reason for that is what Ratan Tata said, they gain success fast and become egoistic and we know what ego does to people, it makes them rude and they consider themselves above everyone else which makes them disrespect others, and such people are always destined to taste the dust one day.

Whether it's about trading or anything in general, someone who gains success in it very fast will either become egoistic or irresponsible, and you can't do that. Some people say that achieving success is way easier than maintaining it, so someone who becomes successful doesn't mean he will stay successful forever, they will need to maintain that success.

Quote from: Bureau on May 18, 2024, 08:41:30 AM

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

"Slow success builds character, fast success builds Ego."

Success comes with worthy experience. If you don’t incur pain and losses along the way, you can’t be sure of yourself if you’ll reach the top successfully. But if you learn trading the hard way, you will experience what it takes to be a good and profitable trader. Trading is undoubtedly hard and tough, most especially for those who trade who lack the knowledge, skills, and the positive attitudes to achieve success in trading.

Quite good quote for sure. Doesn't mean it's true, I have seen people who had decades to build their success and they still turned out to be bad people, and seen people who became overnight stars in their field and still ended up being humble people. BUT the reality is that the quote is almost always right, the examples I have talk about are exceptions and not the rule, that rarely ever happens.

Most people who get success and fame all of a sudden, end up being not great in mind, same goes for kid stars as well, in business that is rarer but in other fields it is more common like sports and music, it is hard to be a kid and be that famous. All in all, I think it is quite alright if you let it go to your head for a while, it is more important to recover from that.

Quote from: el kaka22 on May 22, 2024, 08:44:51 PM

Yes, it does simply means that each person or people would really be that different when it comes to quality or simply with its behavior on which there are really those people who are really that good when it comes to their success building but on the moment that they had established themselves or reached out that pinnacle they do really end up on being that boastful.Im not saying that it would be all but there are really indeed people who do becomes like this on which this do simply shows that there's no assurance that you would be that having that Egoistic kind of personality or building up a character no matter how fast or slow you do able to achieve such condition.

Also, i could say that indeed parenting is one of the contributive factor on how a certain person been raised up well. If he/she was raised up on an environment where discipline and proper values has been that applied or something that been imposed strictly and properly opening your eyes about the good and the bad then most likely you would really be getting or having these ideas forever.
This is why it would really be that significant on how your parents do raise you but in the end of the day it would really be still that still depends on what kind of character you do have
because each person would really be that different when it comes to things something like this.

Quote from: Nrcewker on May 20, 2024, 05:19:50 PM

This hits me the hardest as I’m already experiencing a big turn around and realized that I should not be in hurry and just enjoy the process. Just like in trading, once the price chart is not ok with our strategy, then we should wait and not to hurry buying because there’s a tendency that you will lose more once you push your trading position even if its not within your target, taking the slowest way can build you a good character where you can use to become more successful.

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

It is slow and steady that many times win the race and it is what makes a potential trader learn patience having been steadfast enough, despite the losses.
Even when a newbie trader has attained much profit from attempting to trade frequently, their approach towards the subject of trading and their knowledge base as well as the language or use of terms and words to show intelligence about trading, would be a great difference that is noticed at once.

That is perfect. Slowly but at least continuously until in the end, it is a great success. We can really feel success in trading when we experience that we no longer lose huge amounts. Besides, success is not all about winning and earning money but also how we gain knowledge. Those traders who want shortcuts will never feel such confidence and that is not what we call success knowing that there is a lack in ourselves.

Learning needs patience as we can't take it all in just a few days but several days, weeks, and months. True success is not seen by how a trader speaks but through actions and results.

Quote from: Hypnosis00 on May 22, 2024, 09:44:42 PM

Quote from: Cryptomultiplier on May 17, 2024, 05:12:51 PM

Success in the trading that we do is not as easy as you think. Everything requires patience and very high accuracy. They have to try various theories that never always have certainty in making a profit. Until finally, after several attempts and spending a lot of money, they found a trading method that succeeded in making a profit every time.

Quote from: goaldigger on May 22, 2024, 09:35:42 PM

Quote from: Nrcewker on May 20, 2024, 05:19:50 PM

Learning to trade is a process that takes a lot of time, so it should not be surprising if after years of trading we still make a few mistakes here and there, what matters is that we know enough about trading to minimize those instances and the magnitude of those mistakes, as in this way your mistakes will not damage your account to the point a recovery becomes impossible, so do not mind those mistakes too much and learn all what you can out of them.

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