Friday, February 26, 2010

The Kirk Report

The Kirk Report

Sacrifice For Success

Posted: 26 Feb 2010 07:31 AM PST

We certainly have been enjoying the Olympics and watching the competition. Although my wife and I are not huge sports fans (you can occasionally find me watching the golf channel but that's it), the Olympics is special because you can become inspired by the personal stories of amazing amounts of sacrifice and dedication so many athletes gave in order perform at their very best.

Sacrifice For Success

This year we especially enjoyed the story of speed skater Apolo Ohno who talked about the struggles he had with his father as a child. Ohno shared a personal story that when he was a young man his father took him to an isolated cabin and left him there for a week by himself to "think about and figure out what he wanted from his life." Apolo now believes that his father's actions laid the foundation for his incredible success.

Knowing what you want out of life is certainly the first step. But the second step, making the sacrifice to make it happen, is even more important. Many people express the desire, but when it comes to actually making sacrifice that truly hurts, it is entirely different matter. Which is why these athletes are so inspiring!

Earlier this morning the good Doctor provided a link to an article that offered the following quote:

"First, you decide what you want specifically; and second, you decide if you're willing to pay the price to make it happen, and then pay that price." - Nelson Bunker Hunt, Texas Oil Billionaire

What a terrific quote and, if you had the opportunity to get to know every successful athlete in the winter games, you would find out that each one went through this process. And, most importantly, they made lots of sacrifices and took many risks to make it happen.

The same is true with every single successful trader. While so many in this business want others to think it is easy for them, that they've somehow become smarter than the market, and/or that everything they touch easily turns to gold, the truth is that those who are successful work really hard and constantly make enormous sacrifices to improve themselves so they can perform at their best. They know from experience and the battle scars they've earned over time, how truly difficult it is to do consistently well in the market. And more importantly, they understand what it takes for them to do their best AND they make every sacrifice they need to in order to make it happen.

In the many years I've been blogging online about the market, I've learned that while many have the desire to be successful in the markets, when it comes right down to it they don't fully understand and appreciate that they must also make tremendous amounts of sacrifice to achieve the goals they've set. Much like Apolo Ohno's father, there are many times I would very much like to put readers of this website in a cabin for a week and tell them to figure out what they really want (and if that includes trading successfully) before they come out. Then, when they say they know and are ready to leave, I would ask them a simple question - "Ok, now I know what you want, tell me what you are going to sacrifice to make it happen?" If they didn't have a good answer for me, I'd send them straight back into the cabin until they had an answer.

In spite of everything you may wish to believe, those who achieve great things in the market or in life, sacrifice greatly. So, I ask you, what are you willing to sacrifice today, tomorrow, and every week that follows to achieve your goals whatever they may be? Without sacrifice, you'll never fully reach your full and great potential.

All of you who read this have dreams and the potential and talent to make those dreams a reality. I sincerely believe that. I wouldn't be doing what I do and working hard to share what I share if I didn't truly believe that with all of my heart. But, it will require sacrifice. It will not be fun. And, it will hurt. But, that is the price you must pay for success. The same as I have and the same as any other successful trader has each and every day.