10 Minute Read

Friday Feature: The Myth of Being a Trader (Part 1): You must be so smart!

April 5, 2019

By | 8 Comments

Tackle Trading: The Myth of Being a Trader (Part 1): You must be so smart! (Photo by Sean Patrick Murphy on Unsplash)

I know, we seem to value being smart above everything else these days, but I can attest to the fact that being smart has often sabotaged my own success in trading.

Pearl Li —

In the last year, I have mentored friends to become traders and form part of the trading community with Tackle Trading in Seattle. I loved the “Ah-ha” moments that new traders have when they understand some of the new concepts and strategies.

Then you get to witness how their belief system about the world is changing. One of them asked me, “I can’t believe what you showed me is NOT that hard. If I can learn it in a few months, why is no one else doing this to make money?”

This is because everyone else assumes you must be really smart to trade successfully. Psychologically, they have divided themselves from the opportunity. The social economic difference isn’t propelled just by circumstances, it always starts with your thoughts. If you think a successful trader is someone who is smarter than you, you are dividing yourself from this wealth-generating opportunity. Yes, most people in the world think poorly and stay poor. It’s a very unfortunate truth.


Overall, in my development, where do I see being smart fit? What are the key characteristics of a successful trader?

Personally, I would almost exchange being smart to have more consistency in my portfolio any day of the week. It’s not a glamorous trait as most people may think rule followers are boring, not imaginative and not creative. My advice is that you want your capital gains to be as boring, consistent and predictable as you possibly can, so you are able to live an adventurous, imaginative and wonderful life! Something simple as this is not easy because we want to outsmart the market and self-sabotage!


Tackle Trading: The Myth of Being a Trader (Part 1): You must be so smart! (Photo by Djalma Paiva Armelin from Pexels.)

I did also put down 1% luck as a success factor. This is very generous of me to even consider luck as a factor. In truth, I had no luck in trading, but I am tolerant enough to consider that there is a random success out there somewhere. Although I won’t bet my future on luck, I will be generous enough to give a 1%. In my future blogs, I will address this myth as well.


Don’t discredit yourself because you don’t think you are smart enough to stay in the game. It’s the turtle that wins the game at the end, not the hare!


Pearl Li. The Theta Finder. In the Making.

Tackle Trading: Pearl Li.

Pearl Li previously has been a product management professional for more than 10 years working at well-known companies such as Amazon and Nielsen Company. She took the leap in 2016 with Elite Legacy Education to learn about building long term wealth through financial market trading/investing. In 2018, Pearl happily left her job to pursue investing/trading fulltime producing theta style trading that generates monthly cashflow. She is thrilled to be a voice on the Tackle Trading platform to share her transformation as she goes through various phases of her growing experience.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

The Tackle Today series is brought to you by Tackle Trading.

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

# Sign up now for a 15-DAY FREE TRIAL #


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

8 Replies to “Friday Feature: The Myth of Being a Trader (Part 1): You must be so smart!”

  1. CalebGriffin CalebGriffin says:

    This makes so much sense. Its so easy to overthink things.

  2. Avatar JocelyneGrzela says:

    Great article, thank you!

  3. OctavioDubois OctavioDubois says:

    Great writing, thanks for sharing.

  4. Avatar ROBERTMCKEE says:

    Thanks for sharing, Pearl. It’s easy for me to see the potential for financial success in this, as a disciplined Mathematician, but not for most. Most people need to see the results of successful system implementation (without much luck involved!) before they can believe it’s possible.

  5. DavidVelasco DavidVelasco says:

    Great article; thanks for sharing!

  6. Avatar DanielT says:

    Thank you for sharing, Pearl!

  7. Avatar KalayWa says:

    so true! thanks for the article. LOVE it.

  8. pearl.b.li pearl.b.li says:

    Thank you everyone for leaving a comment. I’m so encouraged to keep writing. The Myth of a Trader Part II is coming this Friday. Hope you’ll continue to enjoy and benefit with your own wealth creation.

Leave a Reply

Chart Modal

Tackle Trading