November 23, 2006
Want to make more money trading?
Do you want To Make Way More Money Trading Then You Currently Are?
If you answered yes, then Get Out Of Your Own F**king Way!!!
Sorry if that offends you and double sorry for those of the fairer sex but…
This info really can mean the difference between being in the 10% group of traders who make money and the 90% who wish they were making money. For this reason I wanted to make absolutely certain I grabbed hold of your ear.
I have been coaching traders since 2000 and every few months I get an email like this.
"Jeff, Your program does not work, I want my money back.".
I then write back and say I would be happy to, but since you left no details, let me see if I can pinpoint where the problem is. I then ask them a few basic questions like,
"Did you place your stops in the areas I mentioned?"
"Did you ride your trades to the profit areas I taught you about?"
"Did you have a clear-cut setup in place?"
And here is the typical reply.
"Well I didn't really place my stops because I thought I would just wait and see what the market does next.
Then they said, "as far as the targets I really didn't use them as I got nervous and bailed out after I was up a few dollars. "
In answer to the final question I would get something like… "Well… Sometimes yes, but other times I was getting a little bored and decided to jump the gun a bit". Sometimes they would say, "well I deicided to to throw this other indicator into your system".
I then said, listen I am still ok with you getting a refund, but please do me this one small favor and show me some of the trades you took.
I then did the math again applying the rules properly and they went from being a loser to earning some nice profits. Once they saw this, I could hear the 'penny drop' and a long "oohhhh" over the internet.
I said, "no method is perfect, but in this case you beat yourself. Instead of following the rules, you changed a winning strategy into a losing one.
I then said the simple truth is my strategy didn't fail you, you failed you!"
And this my amigos, is what I see all the time. I now know after working with thousands of traders that the markets don't beat traders, rather 90% of the time traders beat themselves.
So the next time you go buy any ebook, video program or attend a seminar and it doesn't SEEM to work, see if anything I say rings a bell. I can tell you from personal experience that I have dug up old trading books and startegies that I thought were useless 10-15 years ago and now can make them work. Why, because after careful examination, I realized much of the time I was simply sabatoging myself.
This is a huge topic and I will write a follow up article soon…
Peace & Prosperity
Filed under Blog, The "Inner Game" Of Trading by Jeffrey Wilde


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