Trading is a Business

SNEAK PEEK

Our books are actually full-blown courses for traders. Each is designed to deal with a different aspect of trading.

These are not books that try to teach you some magic indicator. They teach you how to trade the reality of the markets.

You're looking right over Joe Ross' shoulder at real trades made in real markets. You are told when, why, and where the trade was made. You are shown his thinking when the trade was made. You see how, when, and why he entered a trade and how, when, and why he exited the trade.

We receive emails all the time telling us that our courses are worth their weight in gold, and we offer a no questions asked, money-back guarantee on every book still in saleable condition.

Trading Educators, Inc. (formerly Ross Trading International, Inc.) was founded in 1988, and has thousands of satisfied customers who have used the Joe Ross methods to produce significant positive results in the markets.

CHAPTER 22

BUILDING CHARACTER

What is character? Can you tell me? You need it to trade. Without it you are a ripe for disaster, and believe me, the market will pick you apart if you don’t have it.

Character is what? Think, what is character?

I’ll tell you what it is – it’s the development within yourself of everything that I’ve been writing about ever since I started putting you back together. Character pertains to your very makeup, the essential fiber of your being. It is your integrity, your honesty, your self-discipline, and, consequently, your self-control.

It has everything to do with your success as a trader.

Character is so important that you have to be persistent and diligent in developing it. There is no room for slop in your trading. The markets have enough slop in them without your adding to the pile.

My main objective in this book is to help you build the right character and have the correct mindset to be a successful trader.

I’ve raked many of you over the coals, but I’ve been careful to put you back together again. If you were angry or insulted when you read the sections about what you do wrong, then you need to examine your own level of maturity as a trader and as an individual. Hopefully, as you read certain of those sections, you were angry with yourself, not me. All I did was to point out the problems and state that “if the shoe fits, wear it.” It’s up to you, not me, to change yourself.

Over the years, I have gone through the steps of self-flagellation needed to make me a better – not perfect, trader. I, too, am still growing and learning. I have had to do this consistently over the years. “Change”, “modify”, and “grow” are bywords of sound trading.

Now, I’m going to give you a tool I developed to help me build the right kind of character for trading futures. Feel free to adapt it in any way you want, to conform to your own needs. It’s called the Life Index.

THE LIFE INDEX

The Life Index is a tool you can use to help form the habits you want to acquire. It is the organization of a plan that will aid you IN CAPTURING your thoughts and bringing your actions under control. The Life Index is a simple concept that, if applied diligently, will serve as a navigational device to help you stay on course towards becoming a successful trader.

You may use the Life Index to monitor your daily life and to chart your progress as you work to stay on course with your plan. Feel free to make as many copies of it as you desire. It’s OK to change its categories to fit your own situation. Add, subtract, rename categories as you see fit.

Many people who have diligently and consistently used this Life Index have told me it has improved the quality of many aspects of their lives, including their trading.

Now let’s look at each question so you can understand how to keep score of each day and week, and how to chart your course.

Your answers will, of course, be subjective. Your honesty is crucial.

You will chart your scores (0-4) daily, Monday through Friday throughtout the year by using four Life categories. Within these Life categories, we will explain how you scored and where you are in your trading. For example:

Exercised Today? Most labor is not exercise, so don't count it. Did you walk, jog, do calisthenics, rebound, dance, particpate in a sport, ride a bike, or have an exercise workout today? If not, your score is 0. If you did exercise, score 1. If you had a great workout, score 2. To be fit for trading and the market wars, you need a soud mind in a sound body.

Along with the book, you can purchase "Life Index for Traders" which includes a spreadsheet to help you chart your daily outcomes. We have done the work for you, so all you have to do is reach your potential trading abilities. Limited time, receive 20% off this product through the month of March! Use coupon code during checkout: tiab20

You will chart your answers to determine either a downtrend or uptrend. With each of these outcomes, there is a certain course of action that needs to be taken. Where do you fall and what will be your course of action?

►Table of Contents

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$150.00
Trading is a Business Book

$147
Life Index and Equity Evaluator
EBook

INTRODUCTION TO PART II

This book is about making money in the markets.

This book is the result of my coming across an amazing piece of information: on any given trade in the markets, eighty percent of the traders who enter the trade enter it on the correct side. Yet overall, some ninety to ninety-five percent of traders lose money.

This simple reality is devastating. At first I found it hard to believe. I was stunned and shocked by the revelation. My first question was, “How can this be? How can so many people be correct in calling a trade and still not be able to lock in profits?”

In Part I of this book I delved into the mental, emotional, and psychological factors that cause people to fail as traders, and I tried to show how to overcome such factors. I tried to tear you apart, and then offered a specific methodology to help you become a better trader by adjusting your trading to your individual personality.

About the time I began writing about trading, I started sampling the writings of others in this field. Without exception, they try in some way to reveal what they have been doing, or what might work in the markets. There are scads of books, articles, manuals, and courses – all of which are an attempt, genuine or not, to teach people how to trade.

However, in all my searching for market “goodies,” one thing stood out: there have been FEW, if any, who TEACH OTHERS HOW TO MAKE MONEY IN THE MARKETS! If such a book, manual, or course exists, I have not personally come across it. If any one knows of one, I’d like to know what it is and where to find it.

Yes, you can find plenty of books on HOW TO TRADE, but try to find one on HOW TO MAKE MONEY TRADING! Even the ones who claim to show you how they made a fortune in the markets, in the final analysis, never do show you how to do it.

Some books have such illustrious titles and hold forth such promise that people rush forward to snap them up when they are published. Then follows the sad realization that comes from an unfulfilled expectation. All too many of these books turn into a case of breach of promise.

I wondered what I could do about it. That’s when I decided that, in whatever time remains in my life, I will teach to others what has been so profitable for me.

In this part of this book, I attempt to teach you how to make profits from your trading. Some of it you may have heard before from others, some of it you have read in Trading by the Book, some of it was contained in Day Trading (formerly Trading by the Minute). Trading the Ross Hook contains a complete methodology and management program for making money through trading hooks.

Most of what you will read you have never seen before, or at least you have never previously seen it put together in the way I present it here.

I’ve called this book Trading Is a Business because my purpose in it is to teach you what I know about the business of making money in the markets. My goal is to show you how to make your trading profitable.

It is clear that just teaching others how to trade is not sufficient. Nor is it sufficient to teach you the proper mindset for trading. I also have to teach you how to make money. The three – trading, mindset, and making money – are all parts of a whole. You must be a good trader first and foremost. You must have a proper mindset. You must also be a good businessperson. They all go together – they are inseparable.

I believe that if you learn how to make money from your trading, you can make money in the markets whether or not you follow the methodology shown in Trading by the Book, Day Trading, Trading the Ross Hook, Trading Optures and Futions, Trading Spreads and Seasonals, or by reading this book. Since eighty percent of the traders are correct when they first enter a trade, it is not important to trade exactly as I do. It is more important that you trade in a way and with a methodology that is the most comfortable for you.

Obviously, for some people, waves, phases of the Moon, cycles, seasonals, oscillators, and moving averages, etc., are sufficient to make a correct entry into a market. It’s what happens after the entry that causes people to lose when they are trading.

Subsequent to publishing the first edition of this book, I am pleased to say that I received numerous letters and telephone calls stating in essence that the concepts shown in this book have made scads of money for traders using otherwise mediocre methods and systems.

Professional traders have contacted me to tell me that the material you are about to read has substantially increased the bottom line profits of their trading – they are consistently making more money than they ever have before.

I have been told by some, that otherwise losing mechanical systems have become profitable by incorporation of my management concepts.

Please pay close attention to the remainder of this book. Both Parts I and II have been changing people’s lives. To have had such a great impact on the lives of others is a great honor.

Take advantage of our special offer! 20% off the month of March on either product "Trading is a Business" and "Life Index for Traders".
Don't miss out! Use coupon code during checkout: tiab20