Losers Play the Wrong Game
Most trading is done emotionally charged where traders find themselves overwhelmed with information from all directions.
In this mood, you can feel out of control - not knowing where the markets and stocks will take you or do to you next.
Unlike the tech rally days, where winning was virtually effortless and all you needed to do was get on the bus for the ride, winning in the current market is rare.
Rather than winning a lot, you now experience losing a lot - for many, losing over and over, it seams, without end.
Or, if you are one of those who choose to stand aside, not really knowing what or when to trade, you find yourself bored, trying not to fall asleep at the keyboard.
And, at the center of all this disappointment, as you try for any bit of success, you often feel drained - stressed, too frequently getting upset, then angry.
Over the long run you begin to feel demoralized and deenergized - with a sense of embarrassment (as you think about how you will explain your plight to others you care about), feeling like you are a failure as you reflect on the past months/years - you frequently think, your dream of success may never be realized. Not a pretty picture. ______________________________________
The Old School Trading Game: Listen to what I want you to hear: the old trading Game, as you and I know it, has gone the way of the Model A (Model A Ford, that is).
This obsolete trading game is used by all the losers (dissapointed, bored, and losers), as I was not too far back.
The old game is pervasive, and still very much relied on by losers, to perpetuate losing. The old game continues to be offered in all the day trading books, courses, seminars, and Web sites - you name it.
Traders relying on the loser’s game, particularly the new guys on the block trying to make a go of it in this business, are doomed to failure from the get go.
Yet losers (innocently, stubbornly, and arrogantly) persist in playing an obsolete trading game - thinking, hopefully (as usual), that somehow they will be able to win again.
Losers are completely unaware that the trading game has changed to their guaranteed disadvantage.
Look at the markets, look at the price movements, look at your charts as proof. What used to work, traders trading against traders, doesn’t apply anymore. The markets are comprised of traders with their so-so software trading against sophisticated, quantitative software.
Under these disadvantaged conditions, the little guy has little to no chance of winning, making a living, by trading against the big money game.
The old school trading game, as you and I know it, is dead.
What’s the difference between winners winning and losers losing today?
Losers are blindly refusing to accept their fate. Losers don’t know any other way to trade, frankly. So they go on like morons. No offense, I was one for longer than I’d like to acknowledge.
Winners, on the other hand, own the game, every aspect of the game.
Winners know what you trade, when you trade, how you trade. Winners statistically/quantitatively program in your likely reactive attitude and mood (arrogance) and what you trade, before, during, and after each and every trade you make.
"How? "
Sophisticated, quantitative software
It's time (actually, long overdue time) for losers to wake up to what's going on around them, stop what they are up to, and then move on to find a real way to win.
It’s time for the confused, bored, and distressed traders—collectively called the losers—to change their game or quit the game altogether.
It’s time for change.
It’s time for losers to become winners — to find the new day trading game.
Times demand a shift in perspective, a radically different approach, a new game winners play — to consistently win.
But, losers have no where to turn for help.
Not any more.
Comments, questions, suggestion - post or email:
Service@DayTradersWin.com
More Information:
http://www.DayTradersWin.com/
9/15/2007
Day Trader - Success
Day Trader — Success
Acknowledgements:
Allow me to inform visitors reading this, for them to catch up on what we have been up to.
We are now into our third year of day trading NASDAQ and NYSE stocks.
If you asked me at launch time where we would be today, I would have given you the goal most day traders like - win 30%, lose 70% (the proverbial baseball player at bat analogy, repeated in day trading books, and at day trading seminars).
That we have consistent results just about the opposite - win 70% (frequently big time), and lose less than 30% (small time) - is amazing.
No one, not even me, and I’ve always been the vision guy, expected this level of success day trading stocks.
For us now, consistently winning is real.
Our innovatively designed day trading approach, perspective, system (game), day trading tools, and our day trading strategies, - along with our unique day trader consultant/coach-client relationships, and our day trading room - empower us to continue to learn to win - and for most, Consistently Win.
You did this with my help; I did this with your help. We are a rare breed of independent, forward thinking traders who attain and maintain our competitive edge at the top of our day trading game, having a little fun in the process.
I thank everyone for making our success a reality. We have far exceeded our expectations.
Together we become more energized, profitable, wealthy, and powerful, as we continue on our winning ways while trading stocks.
Learning to trade well is about learning to relate well. Taking care of that most important relationship - you. Relating well and serving all the important people in our lives with what we have to offer with our new well-earned wealth.
As always, we’re open for suggestions to improve our day trading relationships, our Web site content and visitor value, trading room calls and guidance, our trade execution skills, and whatever else we set out to accomplish together - as consistently winning day traders.
____________________________________
What clients say:
"You are a rare trader. Your calls are spot on and you have a knack for finding stocks that are moving right now. Your bus motto "if it ain't movn why get on?" can help any trader learn to win the day trading game - every day, in all markets." RS
"I appreciate taking my losses because they set me free for the wins." JP
"I feel liberated from having to be right all the time. In the flow, in the groove. In control. And, finally, in the money." PD
"Thank you very much for accepting me as your student. It is a pleasure and honor to be trading with you in the trading room. My years of dreaming to be a winner are over. Regards." MK
"This work has helped me enormously. To find and move forward on my path to be a successful day trading winner was just a dream. It's now a reality. Thanks" JM
"For years I have tried to make money in the markets trading just about everything including stocks only to lose over and over. Some would say I have lost a small fortune. Not anymore. We're turning my trading ship around. You helped me break through the noise and lots of the old stuff about trading. I now feel I have an opportunity to win like this every day - wow!" DG
"Trading with you and using this simple approach, I feel less stress, more in control, and miles ahead of the crowd. So I have found a new home for trading. I'm a happy day trading puppy." JD
"I love trading like this. I'm so lucky to have found you. We get em tomorrow. Making moooolaaaa." FP
"I don't think there is any greater exercise for me than learning to day trade and knowing you. It's not really about the money. It's about the exercise of strengthening intuition evoked by awareness. What a trip!" BA
"Frankly I thought this was going to be another trading group to waist more time and money. Man was I wrong. I want to thank you for helping me learn to trade this way. JM
“For me, this is like the ultimate game.” WP
(Consultant’s client confidentiality maintained, as required. Names cannot be revealed, sorry. Also, I have jazzed up the fonts, however the comments are factually documented.)
Post comments, questions, suggestions.
Private email: Service@DayTradersWin.com
Additional information: www.DayTradersWin.com
Day Trading Stocks - Winning & Losing
Day Trading - Learn to Win - Learn to Lose
Winning:
The urge to learn is the urge to win, and this urge to compete and win belongs to everyone.
When you win, you satisfy your brain (dopamine, the chemical released in response to winning) and you feel good, having pleasurable emotions and conversations.
This drive to win is found in every cell of your being and underlies everything you do. It’s at the core of every business, every relationship, and every sporting game, including the game of day trading - and, you got it, the Day Traders Win game.
The drive to win is foremost the drive to survive (procreate and replicate – the continuation of the species). We do whatever we need to do to survive (win) - to stay alive long enough to pass on our genes, knowledge, and wealth - fighting, at times, to the death over mates, knowledge, and money.
We live competitively to fulfill our purpose – to survive, to learn, to have our needs and aspirations realized - then we use our success to help others survive, learn, and have their needs and aspirations met.
The challenge of learning and serving is what makes life worth while.
Yet we are never 100% satisfied. We always want more - to learn more, have more, and win more. Winning helps us come close to being fully satisfied. As winning is temporary, we always want more.
At the very point of winning, there is frequently the thought of more winning. Then we set out to accomplish or serve again, and that is usually followed by the thought of even greater challenges of winning.
Real satisfaction is the result of solving problems (learning), contributing with people (serving) = winning (whatever you choose to do in life).
For Traders, learning to win and winning itself give us our sense of purpose and fulfillment in living, as well, our sense of purpose and fulfillment while day trading stocks.
Winning, whatever your endeavor, makes us come alive.
______________________________________
Losing:
Trading a loser's game - distracted by emotions and other noise:
Conversely, the fear of losing brings on unpleasant feelings of trader insecurity, anxiety, and stress.
Your nervous system releases another chemical (adrenaline) giving us a need to fight or to take flight.
As we know, while trading, fear both prevents/delays an entry and you exit trades prematurely. Trader resentment and anger in losing makes you want to recklessly get your money back - to get even.
All of these emotional distractions are drains on our energy and cause negative, disabling stress. As you know, too much negative stress weakens the immune system, overburdens the heart, and, yes, excess stress can kill you.
In addition, if stress doesn't kill you, excess negative stress, like post traumatic stress syndrome (Vets returning from Iraq), the brain will just close down (and we don't want to go there in this conversation).
Stress is as common as breathing. You want to rid yourself of stress, lop your head off.
Now managing stress is another matter.
First, you want to distinguish between positive stress and negative stress.
Then, you must deal with any negative stress—any negative stress trading or doing anything else in your life. You know that.
Dealing with negative trading stress (losing) while enhancing positive trading stress (winning) is what we are here for - to quickly and powerfully help you manage who you are emotionally while you are trading stocks.
There is no other trading game I know of than the Day Traders Win game where losing can be so rewarding. (Not trading futures, not trading options, not swing trading, not investing, not any other trading venues –just day trading stocks.)
"What are you nuts, losing is rewarding?" Yes, rewarding.
Our losing is so infrequent, so temporary, and we learn to make it so insignificant. You are now open for more opportunities to win.
Saying this another way. When we lose a trade in our game, it's small, fast, and fleeting - as we are now free emotionally and financially to move on to win again. You learn to lose small with us and you're out - no brooding, no pain, no suffering - losing becomes just another step toward winning.
By the way, learning to lose like this may seem simple enough to do on your own - I don't recommend it.
It would be like learning to drop volley in tennis or successfully exiting sand traps in golf - on your own.
Not Possible.
Not going to happen.
Comments, questions, suggestion - post or private email:
Service@DayTradersWin.com
More Information:
http://www.daytraderswin.com/
Quotes - About Winning:
“How you think when you lose determines how long it will be until you win.”
G. K. Chesterton
“You have to know you can win. You have to think you can win. You have to feel you can win.”
Sugar Ray Leonard
Winning:
The urge to learn is the urge to win, and this urge to compete and win belongs to everyone.
When you win, you satisfy your brain (dopamine, the chemical released in response to winning) and you feel good, having pleasurable emotions and conversations.
This drive to win is found in every cell of your being and underlies everything you do. It’s at the core of every business, every relationship, and every sporting game, including the game of day trading - and, you got it, the Day Traders Win game.
The drive to win is foremost the drive to survive (procreate and replicate – the continuation of the species). We do whatever we need to do to survive (win) - to stay alive long enough to pass on our genes, knowledge, and wealth - fighting, at times, to the death over mates, knowledge, and money.
We live competitively to fulfill our purpose – to survive, to learn, to have our needs and aspirations realized - then we use our success to help others survive, learn, and have their needs and aspirations met.
The challenge of learning and serving is what makes life worth while.
Yet we are never 100% satisfied. We always want more - to learn more, have more, and win more. Winning helps us come close to being fully satisfied. As winning is temporary, we always want more.
At the very point of winning, there is frequently the thought of more winning. Then we set out to accomplish or serve again, and that is usually followed by the thought of even greater challenges of winning.
Real satisfaction is the result of solving problems (learning), contributing with people (serving) = winning (whatever you choose to do in life).
For Traders, learning to win and winning itself give us our sense of purpose and fulfillment in living, as well, our sense of purpose and fulfillment while day trading stocks.
Winning, whatever your endeavor, makes us come alive.
______________________________________
Losing:
Trading a loser's game - distracted by emotions and other noise:
Conversely, the fear of losing brings on unpleasant feelings of trader insecurity, anxiety, and stress.
Your nervous system releases another chemical (adrenaline) giving us a need to fight or to take flight.
As we know, while trading, fear both prevents/delays an entry and you exit trades prematurely. Trader resentment and anger in losing makes you want to recklessly get your money back - to get even.
All of these emotional distractions are drains on our energy and cause negative, disabling stress. As you know, too much negative stress weakens the immune system, overburdens the heart, and, yes, excess stress can kill you.
In addition, if stress doesn't kill you, excess negative stress, like post traumatic stress syndrome (Vets returning from Iraq), the brain will just close down (and we don't want to go there in this conversation).
Stress is as common as breathing. You want to rid yourself of stress, lop your head off.
Now managing stress is another matter.
First, you want to distinguish between positive stress and negative stress.
Then, you must deal with any negative stress—any negative stress trading or doing anything else in your life. You know that.
Dealing with negative trading stress (losing) while enhancing positive trading stress (winning) is what we are here for - to quickly and powerfully help you manage who you are emotionally while you are trading stocks.
There is no other trading game I know of than the Day Traders Win game where losing can be so rewarding. (Not trading futures, not trading options, not swing trading, not investing, not any other trading venues –just day trading stocks.)
"What are you nuts, losing is rewarding?" Yes, rewarding.
Our losing is so infrequent, so temporary, and we learn to make it so insignificant. You are now open for more opportunities to win.
Saying this another way. When we lose a trade in our game, it's small, fast, and fleeting - as we are now free emotionally and financially to move on to win again. You learn to lose small with us and you're out - no brooding, no pain, no suffering - losing becomes just another step toward winning.
By the way, learning to lose like this may seem simple enough to do on your own - I don't recommend it.
It would be like learning to drop volley in tennis or successfully exiting sand traps in golf - on your own.
Not Possible.
Not going to happen.
Comments, questions, suggestion - post or private email:
Service@DayTradersWin.com
More Information:
http://www.daytraderswin.com/
Quotes - About Winning:
“How you think when you lose determines how long it will be until you win.”
G. K. Chesterton
“You have to know you can win. You have to think you can win. You have to feel you can win.”
Sugar Ray Leonard
Day Traders - Winning
Day Traders - Learning to Win
I retired a few years ago. When retirement got boring enough, I took up day trading Nasdaq stocks on a whim. Before I started trading with cash, I studied and practiced with the best and then paper traded to feel confident with the software.
I read most of the day trading and technical analysis books (and still do), attended all the latest courses (and do not), and subscribed to the best Internet trading services (again, over). Like my other career development activities over the years, I did the research, found the best teachers and coaches to learn to be really good at what I was going to do in my new career as a day trader. I was confident my investment of my time and resources would pay off.
I started day trading with cash. At first I had both high confidence and incredible wins. Then my share of ups and downs, and then just about breaking even. Then I somehow traded many losses, sometime great losses. I traded as a loser like this for quite a while, always trying to figure out what was at the source of my losing, always searching for a way to win. I tried everything I learned from the experts to get back to winning. Day trading turned out to be a very expensive, stressful hobby and then a painful losing career.
I stopped trading.
I decided to take care of myself like I helped others for years (senior executives) - emotionally and financially. I still watched the stock markets and stock prices for weeks. Not trading and not losing, I began to more objectively see what was really going on that caused me to lose so much and what I thought it would take to win. I discovered how my game, the one I invested a chunk of my life and resources in, was not working, and, get this, would never work.
Everything about trading began to change. My perspective changed, my purpose for trading changed, and I began to see how my losing game for day trading must completely change to be a winner. My plan and most of the rules for trading changed dramatically - completely. My expectations for every aspect of trading changed as well.
I cancelled meaningless services and began to see that most of what I paid attention to was just noise - media, experts, forecasters, services that provide endless picks of the day that rarely if ever pan out. My trading game, the game I learned and read about - and lost a bundle playing - was for losers and now I clearly knew why.
I set out to invent a day trading game that worked, no matter what the big money had to offer. Soon after, I did just that. I call it Day Traders Win (DTW).
For the past few years I have consulted and coached want-to-be winner day traders. Clients now know what I learned about day trading, the day trading game, how to consistently win.
There's a new day trading game in town. A game that, once mastered with your coach, allows losers learn to consistently win. Learning to win is simple in context, yet difficult in practice - as it requires displaceming old think with winning think, old game with new game, and old rules and execution sills with new rules and skills. Old habbits get displaced with new thinking, perspective and habbits.
Personally and professionally, learning to become a winner requires: integrity, patience, financial independence, vision, courage, and practice - lots of practice - with your coach at the ready. Learning to win requires practice with a unige system and a simplified set of tools and techniques we use, along with rock solid consulting and coaching to bring these all together to have the confidence, confidence, and performance of a consistent winner.
In summary, to learn to consistently win in any sport, in any relationship, in any business, and yes, to learn to consistently win as a day trader, you need to be playing a game that, at the very least, allows you to win, a coach to gain convidence and competence to develop your career as a consistent winner, and a day trading room where you can learn as you earn.
As with any new game, learning to win happens with coaching - displacing the old and applying the new over and over - learning and doing whatever it takes to win.
Learning requires an unshakable relationship with your coach: sincerity, trust, and an unshakable determination to learn to win together.
The markets have changed, the trading game has changed, and so have we - and so can you.
Comments, questions, recommendations:
Service@DayTradersWin.com
More information:
Quotes - About winning:
What does it take to be a champion?
Desire, dedication, determination, patience and the will to win.”
Patty Berg
“They laugh that win.”
William Shakespeare
Day Traders - Losing
Day Traders - Losing
We live in an instantaneous, electronic day trading world.
Most traders these days are dissapointed as they have not found a way to make money, bored with break even results at best, and those who suffer personal and financiall losses, over and over, with the hope of winning some day. All three types of loser fail to make real progress toward having a business the generates profits.
Those financially independent traders, who give day trading a try, quickly find it just another expensive hobby, like trips to Vegas. They become frustrated and then angry about losing - without the means to ever learn to win.
Eventually traders can become so frustrated they just quit (or they are thinking about quitting - soon).
Day trading is a serious, very challenging business where only the confident, competent, performance focused traders survive and then strive.
Day traders learn to win just like athletes learn to win.
Athletes and day traders who are passionate and committed about learning to win at the top of their game know they must engage the services of a best-in-class consultant / coach.
Why?
To get on a winner's track. To develop the confidence, competence, and performance excellence to get to the top of their game - just like a golfer or tennis player learning to play their game with a coach/pro to have the best chance of becoming a consistent winner - a champion.
However, most traders lose - why?
First, losers have a loser's attitude (unbridled bias and arrogance, with the need to be right about and control just about everything and everyone that's involved with their trading),
Second, losers trade a loser's game (an old-school trading game), and
Third, losers lack trader confidence, competence, and execution skills,
Fourth, losers trade on their own - hoping somehow they will make big bucks quick - without a system, without a coach, without learning to trade well.
Traders lose for the following reasons:
1. Obsessed with money - rather than learning to win,
2. Lack of risk capital (financial independence - excess net worth),
3. Biased decisions - chatter, arrogance, fear, greed,
4. Play a loser's game,
5. Lack the confidence and competence to win,
6. Trade on their own - rather than with a coach, in a trading room.
Since the tech bubble day trading has changed.
Attitudes have changed, plans and rules have changed, and sophisticated software is continuously redesigned by the few big boys at the top (hedge funds, etc.) to stay at the forefront of all this change so they can get whatever they want from all the losers at the bottom of the trading food chain.
Yet the losers don't change their losing ways. They just go on hoping and losing.
Losers are blind to the fact that the stock trading game has changed dramatically - along with all the rules, strategies, and execution skills needed to win.
Losers trade in a funk, vulnerably, not knowing what to do to turn from losing to winning. Losers go on playing an old-school game, applying old-school rules, refusing to change as they don't yet know of any other way to trade.
Losers have no idea what it's going to take to consistently win.
Big money loves it, market makers love it, and hedge funds love all the "dumb" losers out there. They love the money to be made from the crowd of losers.
The old game of day trading - the loser's game:
1. Show up too early, or
2. Show up too late,
3. Feel confused and bored - or both,
4. Trade with excess emotion (fear, greed, hope - constant companions),
5. Become - frustrated and then angry,
6. Blame - everyone (for sure yourself) and everyone you can,
7. Eventually get deenergized, discouraged, and finally,
8. They just quit.
The Problems Losers Have:
1. Cannot accept they are trading a loser's game,
2. Unaware a game exists for winning,
3. Remain in denial - thinking somehow they will eventually win.
Other contributing factors:
1. They don't take care of themselves - health, nutrition, rest,
2. They have low self-esteem - lack confidence and competence,
3. They lack balance in life - family, friends, and fun.
The mood of arrogance, a combination of pretending to know about (pre-conceived notions) and thinking they can have complete control over everything in their life is the primary source of all losing.
Arrogance is at the source of failed businesses, failed relationships, and losing in all kinds of sports (games) - especially the day trading game.
Losers will surely continue to lose until they allow serious intervention - change.
Losers need to learn to win like kids learn to play ever innovative computer games. But this learning is not possible until they see that their trading game, the one they've "mastered" for years, has been dead-ended for years now.
In summary, this is what I want you to know about losing. Your old trading game, the one that used to give you all those big winners, has gone the way of the model A.
We have a trading game that, no matter what the big money does with their game, we consistently win.
Sure we lose. Yet in losing we take the next step to winning. We learn to lose infrequently (small) with dignity; and win consistently (big) with grace. And so can you.
Comments, questions, suggestions:
Service@DayTradersWin.com
Additional information:
http//:www.DayTradersWin.com
"More powerfuul than the will to win is the courage to begin.”
"You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.”
Zig Ziglar
One Day Trader's History
Since the dot com implosion, I have developed a unique and simplified trading approach that keeps me and other traders in tune with what matters most as day traders with NASDAQ stocks - generating consistent, enviable returns - day after day, every trading day. Thinking you might want to know about this financial success story, I urge you to read on.
A Day Trader's History:
Like you, trying to make money in the markets, I had a bad time of it. Bringing to my new career as a trader what I learned as a manager and owner of several successful businesses - banking, real estate consulting, executive consulting (helping senior managers energize their relationships, careers, and businesses) didn't bring me the success I anticipated in the day trading business. Neither did any of the experts help me win (books, courses, and advisors I worked with over the years). Sure, there were times when I had winning streaks, and other times when I had hugely profitable trades. But, overall I still considered myself a loser as I was trading like a jerk, draining funds over the long haul.
As a consultant, I specialized for many years in helping senior executives manage their mood and energy (along with underlying issues of stress, effectiveness, and exceeding anticipated results). For me to continuously lose my composure and money in this new endeavor was incomprehensible and very difficult to accept (emotionally and financially). Losing like this, I became as stressed as anyone could possibly be without the need for medical attention.
I got angry at my trading, the markets, and all trading systems I tried with dead end results. I was resentful often arguing with the markets and just about everything I was experiencing with failure. I felt both hopeless and helpless at times. I even got angry with other traders for taking my money. You name it; I was letting just about every aspect of trading sap my energy. I was far too frequently upset and too often felt exhausted after the market closed.
Friends, stopping by, found my behavior hilarious, knowing how effective I was at helping them deal with their stress. At the end of the trading day, when the dust settled and I did what I needed to do to regain my composure and energy, I too began to laugh at myself. I would then say to others I shared these experiences with - never again! Never again would I allow myself to be so out of control. Never again would I end the day feeling like a foolish loser, depleted of my energy, dignity, and money.
No matter my intentions, as days and weeks followed, I was unable to turn my performance and results around. I usually found myself at the effect of the same limitations, day after day. Overall I behaved like a victim with whatever I tried. Yet I trudged on. All my research and study was now in question. All the books I've read and reread, all the state of the art trading courses I took, and all the so called mentors I trusted (trying to learn all and everything I could to become more competent day trader) seemed to fail me. Thinking back about those times now, I find it both funny and sad.
A Time for Change:
Confused and lost in a web of continuous losses, my trading capital was shrinking fast. I came close to quitting. I don't ever recall quitting when faced with other career setbacks. I wasn't about to start now. I declared quitting was not an option.
I also decided that being a day trader was the final career in my life. No matter what it took (like my attitude in forwarding other careers - banking, real estate consulting, and executive consulting), I was going to make this one work as well.
As the first step, I completely stopped trading and put on my consulting hat. I could now consult (take care of) myself and more objectively observe the markets, stock movements, and so on more objectively to find our what's really going on. I was hell bent on finding what was missing, that if provided, would finally bring me trading success. As an observer of the market, I was now able to carefully look at my trading performance both personally and financially.
I began to focus nearly all my time and attention on one simple question - how can anyone (mutual/institutional fund manager, hedge fund manager, or any day trader like me) make a success of day trading - in control and consistently profitable?
It finally occurred to me that something about this business of trading was very different from all other business I had experienced. Revealing that difference became the project and challenge of the day - of my life.
Traditional Business:
I thought about what I already know. In any business, not day trading, you want new ideas, carefully crafted plans to bring the ideas (valuable products and services) to a ready market, along with talented people to execute the plan for growth and development. With ongoing research and innovative development geared toward ever changing customer/client needs and wants and sincerely focusing in on their continued satisfaction with what you offer, your business can survive and usually does strive.
The Business of Day Trading:
It's not quite the same with trading. Sure, as a day trader you need a trading plan and a market. And, yes, ongoing research for new ideas, skills, and systems as the times and markets change. What about people - customers, management, and workers? Other than your accountant, a good brokerage outfit with great software, and a good computer guy, you don't need people. You are essentially on your own usually in your own home - answering to no one. You're running solo. What about success? Success as a day trader has special requirements. Successful day trading requires that you have different attitude, perspective, and than that of a successful manager/executive - more like that of a well-trained, seasoned athlete in a sport, like that of a professional tennis player aspiring to become a champion.
Success - Winning like a Pro:
Tennis, as you know, deals with individual players who have finely tuned their skills with years of practice from youth, learning to win, learning to loose, all the while seeking to become a conbsistent winner. In tennis, there are no customers, there are no clients in the traditional business sense - except, of course, for yourself, your coach, and, if you're fortunate enough, your growing list of sponsors and, of course, your fans. The real point of the game, by the way isn't the money, it's to win at any cost. It's pretty simple. You win when you outperform your opponent - much like a trader, outperforming other stock market participants.
But, as most great tennis players discover, consistently winning requires careful and ongoing attention to managing your energy (physical and emotional), mood (arrogance, fear, anger) and, all the while looking for opportunities to take advantage of your opponent peacefully and confidently - to win. One other required element for the champion - finding a great tennis consultant available with a champion approach for winning. Other than Federer, who maintained his champion status without a consultant/coach for some time, you also need trusted and respected performance coach - to guide you through the mine fields, so you can focus only on what's important - learning to consistently win. Not always win, but win consistently enough to become a champion tennis player.
Day Trading - My Observations:
To win at trading, like an athlete learns to perform as a champion, seemed remote for me - given what I experienced so far. As I said, applying all I've learned about business and day trading (not paying too much attention to my mood and energy), I thought my trading turned out to be a waste of my time and resources. I considered myself a failure both personally and professionally.
Personally, I was ignoring, for the most part, what it took to win at the game of trading. Not only do you need to manage your money, you need to trade like a tennis professional, not so focused on the money, but completely focused on winning.
As champion trader, you must learn to manage energy (physical and emotional, but mostly emotional), specifically your moods (fear, greed, anger, and arrogance), have a winning perspective, a winning trading approach, develop finely tuned skills, and look for opportunities to take advantage of stock price movement (the opponent in tennis), and have the timing of a tennis pro.
I didn't know how to win. I wasn't doing well managing any of these elements for winning - energy, mood, and opportunities. As a result, my trading was exhausting, anger filled, and embarrassing. I listened to far too many other "expert" traders and systems for my setups, showing up too early, waiting for what seemed like forever for a move. Or I was too late, wondering how others found the movers and made such timely, rewarding entries and exits.
What I Learned:
Professionally, I often found five problems present when trading:
1. Arrogance - prior to and while in a play, I was too damned certain my setups would work.
To win at trading, like an athlete learns to perform as a champion, seemed remote for me - given what I experienced so far. As I said, applying all I've learned about business and day trading (not paying too much attention to my mood and energy), I thought my trading turned out to be a waste of my time and resources. I considered myself a failure both personally and professionally.
Personally, I was ignoring, for the most part, what it took to win at the game of trading. Not only do you need to manage your money, you need to trade like a tennis professional, not so focused on the money, but completely focused on winning.
As champion trader, you must learn to manage energy (physical and emotional, but mostly emotional), specifically your moods (fear, greed, anger, and arrogance), have a winning perspective, a winning trading approach, develop finely tuned skills, and look for opportunities to take advantage of stock price movement (the opponent in tennis), and have the timing of a tennis pro.
I didn't know how to win. I wasn't doing well managing any of these elements for winning - energy, mood, and opportunities. As a result, my trading was exhausting, anger filled, and embarrassing. I listened to far too many other "expert" traders and systems for my setups, showing up too early, waiting for what seemed like forever for a move. Or I was too late, wondering how others found the movers and made such timely, rewarding entries and exits.
What I Learned:
Professionally, I often found five problems present when trading:
1. Arrogance - prior to and while in a play, I was too damned certain my setups would work.
2. Timing - I was usually showing up too early or too late.
3. Hope - I just couldn't find the discipline and courage to get out when my trade failed.
4. Focus - on money, not winning.
5. Opportunities - watching stocks that might move, rather than stocks that do move.
(I found these recurring problems as the primary source my losing.)
Voila! I now had something to work with as a consultant. I thought, if I could first deal with the trading side (winning), I could then deal with the energy (emotional) aspect of my trading.
What I Discovered:
As for finding opportunities, I noticed consistencies and, more so, inconsistencies with price movements. Yes, volume, trends, pivots, candlestick patterns and all the other studies like Stocastics, MACD, Fibonacci, are important signs for anticipating price change. Real trading power, I found, only comes from finding and observing only those active stocks ready to make big price movements, knowing how to trade them effectively and profitably, all the while, managing your mood and your capital.
As for finding opportunities, I noticed consistencies and, more so, inconsistencies with price movements. Yes, volume, trends, pivots, candlestick patterns and all the other studies like Stocastics, MACD, Fibonacci, are important signs for anticipating price change. Real trading power, I found, only comes from finding and observing only those active stocks ready to make big price movements, knowing how to trade them effectively and profitably, all the while, managing your mood and your capital.
I'm not talking about the traditional approaches to trading you read or hear about, although that information is important to build on - technical analysis. It's not about luck, or "skillfully" guessing what might happen during the trading day, or hope for that matter. It's about a very different way of trading personally and professionally. I'm talking about trading in such a way that you can consistently win.
Slowly and intuitively I developed new and more effective ways of trading. For weeks and months, I watched the entire Nasdaq market and all the stock movers. I carefully observed both the movers and the non movers (with potential to move), and the losers (also with the potential to move - short positions) getting bursts of insight as to what was really important for me to know and not know to make money. Especially what to ignore - the noise. The real opportunities, I found eventually, are not that obvious - in any market. I learned not only what stocks to be in or out of, but also when to be in or out. I found new ways of observing certain stock patterns and "tensions" that presented the best opportunities of the day - to enter, exit, and consistently and profitable make money - day after day, every trading day.
A New Day Trading Approach:
I organized what I was discovering about myself (my energy and behavior) and the markets (price movements) to develop a fresh, simplified, and effective approach to day trade. I call it: DayTrading to Win (DTTW). I had, once again, career wise, sensed I could regain my confidence - even more so, a level of confidence required like that of a champion tennis player.
The Results:
It was time to put all this to a test. With this renewed energy, a fresh outlook and new approach to win, I started trading again. After a few weeks practicing with small lot size, trading over and over, learning not to care so much about the outcome but on the actions required to win more than lose. Not only did my trading become rewarding financially, beyond what I imagined, I quickly learned what was missing to be in full control both personally and professionally. I had both a winner's perspective and trading approach - to make winning happen competently and consistently. I was trading effectively and profitably - "in the zone", like a professional tennis player.
Financially, I was having daily gains averaging $1,000 to $3,000 (2-6%) and frequently far geater - trading a margin account under $50K. Thing about it. That's what most people would be happy earning annually. That's a worst-case scenario - during the summer "doldrums", as you know, when the markets and most stocks barely move at all.
Slowly and intuitively I developed new and more effective ways of trading. For weeks and months, I watched the entire Nasdaq market and all the stock movers. I carefully observed both the movers and the non movers (with potential to move), and the losers (also with the potential to move - short positions) getting bursts of insight as to what was really important for me to know and not know to make money. Especially what to ignore - the noise. The real opportunities, I found eventually, are not that obvious - in any market. I learned not only what stocks to be in or out of, but also when to be in or out. I found new ways of observing certain stock patterns and "tensions" that presented the best opportunities of the day - to enter, exit, and consistently and profitable make money - day after day, every trading day.
A New Day Trading Approach:
I organized what I was discovering about myself (my energy and behavior) and the markets (price movements) to develop a fresh, simplified, and effective approach to day trade. I call it: DayTrading to Win (DTTW). I had, once again, career wise, sensed I could regain my confidence - even more so, a level of confidence required like that of a champion tennis player.
The Results:
It was time to put all this to a test. With this renewed energy, a fresh outlook and new approach to win, I started trading again. After a few weeks practicing with small lot size, trading over and over, learning not to care so much about the outcome but on the actions required to win more than lose. Not only did my trading become rewarding financially, beyond what I imagined, I quickly learned what was missing to be in full control both personally and professionally. I had both a winner's perspective and trading approach - to make winning happen competently and consistently. I was trading effectively and profitably - "in the zone", like a professional tennis player.
Financially, I was having daily gains averaging $1,000 to $3,000 (2-6%) and frequently far geater - trading a margin account under $50K. Thing about it. That's what most people would be happy earning annually. That's a worst-case scenario - during the summer "doldrums", as you know, when the markets and most stocks barely move at all.
While winning this way, I was also surprised to discover, my focus was no longer on the money but on winning, one trade at a time, long or short - like the tennis champion, one serve, one forehand, one backhand at a time. How often did I have winning days? I have not had a losing day for months. As I said, I win every day, any day I decide to trade. I know. I know. That seems unbelievable. Beleive it - it's independeltly documented.
Celebration:
Was I surprised with the outcome of my research? You bet. Better still, I became delighted with the results. Who wouldn't be? I was trading much more in control of my thoughts and feelings before, during, and after each trade. My energy and mood were no longer issues, my stress minimized. And, of course, I was happy with my newfound way of winning.
I still had my doubts and lots of questions. Was it just an extended run of luck? Or was I onto something solid here? This kind of success seemed at first hard to believe, given where I had come from.
For weeks I did everything I could think of to put this program to the test. I refined my approach as I went along allowing it to blossom. Eventually I concluded it was "bullet proof". And, you know what? Both how I felt, trading like a winner every day, and the back-testing data revealed to me that it really is a bullet proof approach to trading, both personally and professionally.
Now I want you to begin thinking about benefiting from this kind of trading as well.
An Opportunity:
So why am I sharing all this with you? More importantly, you may be asking yourself - "what's in it for me?" "What opportunity is John talking about?"
I'm offering you and few other traders, with the passion and commitment to learn to win, a chance to work with me to achieve similar gains with this wonderfully profitable way of day trading. You can learn to trade with me like a winner - first, winning as professional (no longer harming yourself and your capital - winning more than you lose), and second, as a champion (winning big time).
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