Ten-thousand in Education and still not profitable! | Trading Reviews and Vendors


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Ten-thousand in Education and still not profitable!

  #323 (permalink)

port charlotte, florida
 
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Oil
 
Posts: 96 since Dec 2011
Thanks: 54 given, 73 received

It's long hard work - it's not easy


Steven Sontag View Post
There are many factors that determine success in trading. It is a good idea to check out you trading psychology.
Go to ultimatetradingpsychology.com Patrick has a good free 5 lesson course to get you started.

Steven:

Thanks for the post. Websites and books like this are a great idea for people to realize that they themselves are 90% of the problem and when they can successfully change their behavior they can be successful traders (can be - not will be).

I am amazed at the growing number of sites and sitechologists that are out there now telling us how we need to look after our own emotions and psychology. The intent is valid but they make it seem easy. I am amazed that they are so successful as traders that they need to run these businesses telling other people how to make money. I grow more skeptical of them every day.

On Patrick's site one of his 'key' points is:
How to quickly and easily achieve incredible self discipline, that will enable you to cut loses quickly, let your profits run and follow your system and rules

It is not quick and it is not easy. If you don't have self discipline today, as I don't, it is going to take a lot of time and effort to develop it.

Becoming a professional trader is like becoming any (successful) professional. Anyone who thinks it is easy and quick to become a golfer to compete with the likes of Tiger Woods is truly self deluded.
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I had a boss who used to regularly remind me of the old adage "if you're not part of the solution you are part of the problem!". Anyone can criticize but always propose an action when you do criticize.

The action I am proposing is the formation of a self-help group perhaps along the lines of Weight Watchers, Alcoholics Anonymous. The purpose of the group would be to develop a program and then support each other in that program to develop self discipline. The group doubled last week - from 1 to 2! Is anyone else interested?

Geoff

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