The Good and the Bad

To succeed in trading a certain commitment and willingness to
assume risk is required. If a person doesn't have the confidence in
their own judgment to assume the risk of purchasing my course
after doing their due diligence (i.e. asking questions to learn about the product and assess my integrity and contacting references) and is
not willing to take responsibility for that decision then they are not
very likely to succeed in trading.

I only want to work with people who have what it takes to be
successful and taking responsibility for their actions is the first key
that I cannot teach (everything else I can and will teach you). I prefer
to work only with individuals who are willing to make the necessary commitment and take responsibility for their 'own' actions and results.

I would honestly rather not have your money if you are the type that always blames others for your problems and never reached the
maturity level of taking responsibility for your own actions. The
reason is because I would be doing you a disservice. You will not
make money trading; in fact you will lose money and blame
me and the market if you are that type of person. The character trait
of taking responsibility for your actions is essential to your trading success.

The first and perhaps most important “secret” is to realize that
any methodology or approach (no matter how good) is only part
of being a highly successful trader. This applies to any trading
style including, day trading, swing trading or position trading.

The simple fact is that a bad trader can screw up any fantastic
trading system. You can give some people next day's
financial paper today, and they will still lose money!

While many traders do get ripped off with a piece of junk, I've
found that some traders with this attitude tend to be the "Holy Grail" chasers. They buy a product and want a system that has no losses. Then when they have the inevitable loss they blame the system
and the person that created it. They will blame anyone and everyone except themselves. These people are totally unrealistic
and will never be satisfied with anything. They will never make
traders until they accept responsibility for their own actions and decisions.

Broadly speaking there are three different types of traders...

1) There is the trader who no matter what he does will never make
money. He just isn't suited to trading. Temperamentally,
emotionally, physically, he just can't do it. Some people
can hit a golf ball and others can't. That's just the way it is.
You are asking him to be a round peg in a square hole. These
traders make out a small percentage of the population.

2) Then there is the trader who knows all the stuff but for some
reason he can't make money. He is the proficient but poor
trader. He's got all the theory and all the knowledge but success
eludes him. There is a gap between what he knows and the
reality of the market. And the money goes down the gap!
These traders make up a large percentage of the population.
They are not stupid, they just don't get it!

3) Then there is the trader who makes money. He has closed
the gap. The money doesn't go down the gap, it goes into
his account. This group make up a small percentage of the
population.

Many traders think that to be a “Super-Trader” that they must
possess some type of highly advanced trading technique or
software (you need tools NOT toys!) along with nerves of steel
and a highly developed intuitive feel for the markets.

You will be relieved to know that the above is not necessary.
There are actually only a few things that separate traders who consistently make money and those who don’t.

And here they are…

* Skilled traders find a strategy or method that offers a
high probability for success. They make money by exploiting
this edge over and over again.

* Skilled traders never deviate from their methodology or “wing it”.

* Skilled traders never enter a trade without a entry and exit
strategy. They know exactly when and where to cut their losses
as well as taking profits.

* Skilled traders never ever let a winning trade turn into a losing
one.

* Skilled traders always have one goal in mind: To preserve their
capital at all costs. They do this by never taking on too large of a position.

* Skilled traders never get too greedy. There is an old saying that
“Pigs gets fed and hogs get slaughtered”. These traders don’t try
to make one big trade that will turn them into instant millionaires.
They don’t try to hit home runs, instead they understand that it's
better to keep hitting singles and making smaller consistent profits.

* Skilled traders enter and exit trades swiftly and decisively.

* Skilled traders listen to no one else’s opinion concerning the
market or particular trade they are in.

* Skilled traders are often contrarians. They will be buying when
others are too scared to, and sell when the crowd starts buying.

That’s it, the secrets to making big money in the markets. Perhaps
that is a bit of a let down as you were hoping for something a bit
more esoteric and complicated.

Novice traders don't have trading problems....they have thinking problems!