The Path to Success


Though everyone wants the rewards, it is necessary to learn the game before that can happen. That means that some people will not do well because they cannot be trained. They cannot be trained because they mostly don't want to be trained. They want to attend a 3-day course in Bermuda and to be given a "secret" that will change their lives forever.


In a sense they are expecting God to show up at the seminar and give them the "secret" that will unlock the trading game-board. They want it to be easy, and quick, with very little time put in developing skills. It has always been this way otherwise there wouldn’t be 3 day seminars in Bermuda. This is not entirely the fault of the uninitiated. We live in the information age where skill development has taken a back seat to passive information based training.



 Under Estimating The Not So Obvious


When a person new to day trading first glances at a small time frame chart, it looks as though one could just snatch a quick profit right out of the air.  It appears to be as simple as clicking the mouse button for an entry, and clicking it again 45 seconds later for an exit. I often hear agendas attached to that outcome that completely under-estimate the task at hand such as, "I only want to make $200 a day". Well I don't know when the last time it was that I saw $50,000 a year profitable traders growing on trees. And that would be a $200 a day profitable trader. 


Trading is a performing art. It is at least the greatest video game in the world and that takes a little practice to maneuver thru the minefields of battle between the bulls and the bears.  Not to belabor the point, but would you dare play a sit down recital on the piano for your best friends after one weekend of lessons?  Would you enter a golf tournament after one weekend of instruction at a “How to Swing a Golf Club Clinic”? Then it should boggle your mind, as it boggles mine, as to why people believe that trading is just information based, and that with the right information jammed into their heads on a weekend over coffee and lunches, that they will survive more than 5 minutes in the ultimate competitive forum with professional traders, who have developed and honed their skills over a lifetime. 


Some people do learn the game quickly. They seem to have natural abilities to shut down their emotional system while still maintaining acute sensory awareness about the trading environment. That’s right ….you have to dull your emotions but heighten your senses. It’s a paradoxical condition that is usually reserved for veteran traders who have been thru many skirmishes. Most everyone else will need to learn how to balance these disparate psychological elements and hope that their experiences are good ones.


There Is A Protocol


There is a protocol, a way of learning this. You will need to learn a framework to overlay on to the market, whether it's a system, a method, or a much larger work such as a treatise on market flow. That framework will be your guide as you move thru the game board. Then you will need to train yourself or be trained in how to apply that framework.


Practice, patience, and perseverance will afford you the very best opportunity at becoming a successful trader.




What does practice mean? How do we practice trading? It means that once we understand the framework over laying the market, then we locate and choose one particular kind of trade that resides within that framework and practice entries and exits associated with that kind of trade, until that act of trading becomes consistent and second nature.




What does patience have to do with this? You will learn to become a good analyst using the framework. You will learn to become anticipatory. All good analysts can see classical predictive paths. But the tendency for the good analyst is to execute trades too early. This is a natural flaw for the new analyst who can “see the possibilities ahead”.  To become a trader, the good analyst needs to exercise patience. It’s a timing issue. And let me be clear. Hesitancy in trading is weak and indecisive. Patience is different. With patience, the decision has already been made, but your timing will improve by allowing the market to give you more information.





Perseverance is about understanding that you leave your work on the table at night and come back to it the next day to improve on your skills. If you bring a work ethic to your trading, then you will be able to conquer the various plateaus of performance that may otherwise seem unattainable. 


Studying to Perform   


You don't have to study here with me, but you will end up studying somewhere if not by your lonesome self. You will leave some of your money on the table at the game-board to gain the experience that can make you incredibly successful. So what about those “secrets.”  Isn’t there a shortcut?  Here is my advice regarding the protection of your money. I suggest that the next time you see one of those ads for training that pander to your weaknesses about quick and easy, that you become alert to the fact that there are no “secrets” that will make you a champion. Success is a matter of consistency of action. The more consistent you become with your actions the better the chance that you will succeed.


Living With Intent Rather Than Goals


How you spend your time and your money is up to you. I have learned from some of the most successful traders in the world that making money is a by-product of doing what you love to do. When you love what you do, it’s never work. Learning to trade requires practice, patience and perseverance, and if you allow yourself to live with intent rather than goals, then you may be able to accomplish what you want, at a quicker and faster rate.  It’s the difference between focusing on the task before you, that is intent, or focusing on what is not happening, that is a goal.   


I have taken instruction in my life from very insightful people and have learned that goals are nothing more than descriptions of what we don’t have or where we are not, on a fictitious scale. Goals are distractions that allow us to under sell ourselves every time we fail to reach fictitious benchmarks. Frustration is permanent with goal seekers. 


Living with intent means moving through a learning process unencumbered by where you think you should be, or what you think you should have, or making any other comparisons attached to false values and limitations. Intent is about enjoying your activity and focusing on making it more enjoyable every day. Frustration is temporary with intent doers.


Watch how a child plays a video game. They win and they lose. When they lose they just start the game over and keep practicing until they get better. That is how all skills develop. Children will cry if you take the game away from them. Be prepared to win and to lose. Be prepared to spend some money learning the game of market flow. Make it your intent to get good at this performance art and you may just succeed beyond your wildest dreams.







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