> ## Content Index > Fetch the complete content index at: https://letters-of-a-trend-follower.ghost.io/llms.txt > Use this file to discover other available public pages before exploring further. # Longevity of a trader - URL: https://letters-of-a-trend-follower.ghost.io/longevity-of-a-trader/ - Published: 2026-09-24T18:15:23.000Z - Updated: 2026-09-24T18:15:23.000Z - Author: Sunsetsession **After watching a video a trading buddy of mine recommended, I began to think about what it takes to stay in the game for the long run.** It's about Charles Harris. In this video, he explains from A to Z how his whole trading story went. He eventually was close to William O'Neil, worked there, and made a lot of money trading the markets. Eventually, it all came falling down as he started to lose money. For years and years, he followed his rules, but then he started breaking them and making a lot of mistakes, all while not being in the right headspace. At his peak of millions of dollars, he got even more greedy and coupled his self-worth with his trading success. It looks like at the end his ego took over and he started holding trades while going down, trying to prove he was right. He became an expert on the subject of certain companies just to try and prove he was right. Ultimately, he talks about worthiness as our soul purpose/nature as humans and how we can only really get this from connecting with other people. What gets in the way is shame. What it really comes down to is this: trading or money should not fill a hole. We should not be trying to fill in some gap in our lives with either of these things, because then we couple trading/money with our own worth. Meaning if you lose it, shame comes into play. We need other things in life than just trading and money. **Taking this to some books** I have been reading *Atomic Habits* by James Clear and *Mastering the Mental Game of Trading* by Steven Goldstein. In *Atomic Habits*, James writes about how motivation is good for direction and short-term things, but if you really want to achieve something, you have to build habits. To really make these habits work, you have to think from the inside outward. Don't think: "I want to lose a few pounds." That's the outward outcome. You need to identify as a healthy person, adopt the habits of a healthy person, and then you will achieve the outcome. Taking this back to trading: James Clear argues that you need to deeply identify as a successful trader to build the right habits. You have to believe: "I am a consistently profitable trader." But here lies a dangerous trap that directly conflicts with Charles's warning. If you make "successful trader" your core identity, the line between your net worth and your self-worth blurs. When you inevitably hit a losing streak, it won't just feel like a bad day at the office; it will feel like a threat to who you are as a person. If your identity is tied to winning, a loss means *you* are a failure, inviting the exact shame and ego-driven mistakes Charles experienced. So how do we apply atomic habits—really identifying ourselves as a trader and adopting all the habits—without making it our entire self-worth? This is where Steven Goldstein comes into play. He writes in his book about how you need a purpose. But you don't just want some ordinary purpose; you need a *wholesome* purpose. Why? It all comes down to ego. Steven talks about how every trader consists of two parts: self and ego. The ego is something we have from the days we lived in caves. Ego is what kept you in the group, making your survival chances higher. It does this by focusing on how you should act so other people will like you and approve of you, keeping you in the tribe. In a nutshell. Now back to the purpose types. Two examples: **Ego purpose:** *I want as much money as possible so I can buy a Ferrari to drive through my neighborhood as loud as possible so everybody can see me in my fancy car. I want as much attention and approval from as many people as I can think of.* This kind of purpose is led by the approval of others; ego is in charge. **Wholesome purpose:** *I want to create as much freedom as possible in life for me and my family.* This kind of purpose leaves the ego out of it. There is no approval of others involved. See the difference? Once you have a drawdown period and trading is not going well, the trader with the ego purpose—completely hanging on to the approval of others—will feel this like a personal attack on his self. This will leave you in a state where you want to get back up to get that approval (ego: stay in the group for survival), hence the self-destructive behavior as a trader like going on tilt, leading to significantly more drawdown. For the guy with the wholesome purpose, there is no approval involved. Yes, he will probably feel shame as well, but it will not feel as if his survival (approval of others) is in danger. This makes you way more resilient and able to look back on your mistakes, completely detached, and really learn from them instead of desperately trying to make up for your losses. So what I really think it all comes down to is this: yes, you want to become and completely identify as a trader, and adopt the processes/habits to achieve great outcomes over time. BUT (and this is a big but) only if you keep your ego out of it. Long-term success in the stock market means completely decoupling your self-worth from your trading and money. If you trade for status or approval, you couple your self-worth to your P&L. A loss feels like a personal rejection, and you will take irresponsible risks trying to save your ego. If you trade for something wholesome like freedom, keeping and protecting your capital becomes the most important thing. You can easily take small losses and sit in 100% cash for months because you trade for long-term stability, not a short-term desire to prove yourself. To be a good trader, you have to be *the* trader, but be the *right kind* of trader. Don't identify with status and being rich, but identify with the process. Your identity should be about patience, discipline, and detached curiosity. I hope this all makes some sense to anyone reading. For me, it's really about writing down these thoughts as a reminder to myself. Hence the non-ego purpose ;). --- **Disclaimer:** *The content of this blog is for educational and informational purposes only and does not constitute financial advice. The author is not a certified financial advisor. All analysis is based on historical market data and technical methodologies. Trading stocks and cryptocurrencies involves significant risk. Always do your own due diligence and consult with a professional financial advisor before making investment decisions.*