Why Trading Is Difficult

Brett Steenbarger has a good post with input from Don Chase about why trading is difficult, or in other words, what it takes to be successful:

How many guys do you know who can accept being wrong?

How many guys do you know who can be wrong and lose money?

How many guys do you know who can be wrong, lose money and not feel bad?

How many guys do you know who can be wrong, lose money, not feel bad and reverse their position?

How many guys do you know who can be wrong, lose money, not feel bad, and reverse their position quickly?