What Trading taught me about Business.....

I have been Trading currencies (Forex) since the early 2000's - leveraging the technology which (finally) allowed Traders to access markets directly from home. I have also been an Accountant (what we now call a Finance Business Partner or FBP) since the late 70's and launched a business consultancy 5 years ago....

So how have the traits needed in a successful Trader helped me in my more mainstream careers ?.....

Discipline - Trading requires far more discipline that most mainstream jobs demand. Good to use that edge....

Humility - Trading requires humility (to stop you making foolish trades when you are seemingly unbeatable) - always a powerful reminder to manage and balance my ego in the Business world.

Acceptance - Trading teaches you to accept that which you cannot control ("The Market"). Same rules apply in Business - get busy on the things you CAN control and the rest will take care of themselves.

Flexibility - Trading and markets never stand still - unless a trader is able to change, adapt and evolve their strategies - they will ultimately fail. (Sound familiar in Business?)

Education - If one does not follow a path of continuous study and improvement then again one will ultimately stagnate and fail.

Determination - you will suffer many setbacks on the Trading path - never ever give up** (as in Business)

Focus - If you do not focus 100% when actually Trading then you will fail - execution requires laser focus and concentration to achieve success.

Simplicity - Try to minimise complexity (albeit hard at times in Trading), the more complex the process the more opportunities for confusion and ultimately failure.

Incorporate these traits into your business approach (with a killer USP) and you will be creating a platform for success....

Neil

**Note Flexibility - don't just hit your head against a brick wall doing the same thing again and again......that's not determination that's just dumb!