Trading and the Dara Torres Effect

Regardless of what you think about Dara Torres, and believe me, there are no shortage of opinions about her, you have to give her credit. She has single minded determination and a drive that most of us could use a dose of.

At forty one years old she just became the oldest swimmer to medal in the Olympics. That record stood for 100 years. Longevity is what we all strive for. Whether you think she looks like a guy in a swim suit, is too old to compete in more than two or three races or just think she is trying to stay in the lime light, one thing is for sure, she knows how to stick with it.

We are looking for the same thing in trading, longevity. Without it, we just have zero balance accounts. What goes into making up longevity in trading though? I think three main things.

1.       Money management

2.       Understanding of Technical Analysis

3.       Understanding of Fundamentals

With a solid understanding and relentless disciplined application of the above list, you have the recipe for longevity in the currency market. People can and do affect their success every day. George Soros was once a railway porter and a waiter before becoming the billionaire he is today. It is the desire to stick with something; and apply everything you know that makes all the difference.

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