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Anthony Robbins

"Most people fail in life because they major in minor things."

What does that mean for us as traders?

It means that you can't know everything about all markets and styles of trading. You can't be scalper, day trader, swing trader, investor in stocks, forex, bonds, commodities and index futures using all technical and fundamental analysis techniques.

You need to specialize - especially if you are currently unprofitable or new to trading. Find something that fits your style and pace of life.

Are you trading part time in the evenings when the index futures are closed or not moving much? Try and find a market that's more active during the time period that you can dedicate to trading.

Can you wake up early before going to work and trade the European markets before work starts? Are you fast on the keyboard and score 73 zillion points at space invaders? Then maybe you're suited to rapid fire trading - otherwise perhaps you should pick something more suitable to your abilities - you can always upgrade once you become successful.

Don't major in minor things. Major in 1 market with 1 style and once you're an expert at this and can trade it in your sleep then take a look at the other markets around it.