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Dollar Value on "Success"

One of the great lies that all traders tell themselves, is that we need to make a lot of money in order to consider ourselves successful.

That there's a dollar value on "success."

That is absolutely false.

The goal isn't to double your account or trade for a living. The goal is to be profitable.

At Trading Educators, we hear from many successful traders — traders we ourselves helped in their training and education. Invariably, they have gone from the maze of complication to doing something very simple. They have found their niche in the market. The utter simplicity of what they do never fails to amaze. We receive statements like these:

"I trade only the ____ market. I take only Traders Tricks on 1-2-3 and Ross Hook formations."
"I trade only spreads now, I use end of day data and restrict my trading to only the CME and CBOT contracts."
"I made only 60 trades last year, and made more money doing that then I have ever made before."

"I tested your concept of stopping trading after only one winner. Now I make my money and leave in under two hours of trading. No more sitting in front of the boob tube all day."

"I am using the setups you taught me. I am really doing what you say to do: I am earning while I'm learning how to trade spreads."

How better to generate those profits than steady, regular wins?

 

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Thursday, 01 October 2020

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Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.