Dear Trader,
My first trade was made in the summer of 1969. During these many years that I have traded, invested, analyzed, studied, and educated other traders, the one inescapable fact is that too many traders lose money and in spite of all our technology, they continue to lose. WHY?
Here are the top ten reasons based on my observations spanning over 4 decades.
1. They have no trading plan or what’s worse, they make subjective trading decisions
2. If they have a trading plan they are unable to implement it effectively and consistently
3. They have insufficient capital to absorb a series of losses
4. They take numerous small profits but much larger losses
5. They believe that they can be successful by day trading
6. They lack focus and attention to detail
7. They do not understand order placement and the proper use of orders
8. They have informational overload that confuses and frustrates them
9. They lack discipline and confidence which can only come from a winning strategy
10. And, they try to do too much too soon making too many trades in too many markets
Most Traders Are Grist for the Mill
It’s a sad but true fact that most new traders will fail in relatively short order. For the 10 reasons cited above and several others, I estimate the account average lifespan of most traders to be six months or less. That’s good news for professional traders who feed off the losses of new traders. But you all know that and you have probably been there a few times yourself.
Even if you’re succeeding, you CAN do even Better!
With every trade I make I learn something or I relearn something. If I have to relearn something, then the odds are that I learn it right the first time. But one thing is for certain: I make every profit or loss count as a learning experience. I believe that trading successfully is a learned behavior and therefore it can be taught. There is no question that there will always be an element of chance and luck in trading but that’s true in virtually every endeavor whether business, or sports, or the healing professions.
Skill can go a long way to minimize the negatives that are an inescapable evil of all business ventures.
Plan Your Trades and Trade Your Plans
The vast majority of webinars these days offer very little in the way of real solutions to real problems. Most webinars and seminars are focused on selling products to “help you” but in order to do so they need to convince you first that you need help. In order to convince you that you need help, they teach you things that are intentionally vague so that you will have to go to the “master,” who seems to know what he or she is doing. And they will be glad to sell you what you need, many times over. I’ve seen these webinars. I’ve seen the charts with multiple colors, lines, indicators, retracements, angles, magic squares, hazy clouds, colored candles, secret calculations, and other arcane nonsensical gibberish. Let’s stay away from that nonsense!
In order to overcome the lunacy, the blunders, the errors, and the magical thinking, you need to do the following, all of which I can teach you clearly, objectively, effectively, and in an organized fashion.
My new webinar series gives you the Whole Package!
When you attend my Plan Your Trades and Trade Your Plans Webinar, you will get complete factual and fully objective solutions which you can implement to vastly improve your trading. I will teach you what I have learned in 45 years of experience with the markets. As traders we are the weak link in the chain. We can always be more successful. I will do my best to help you improve your bottom-line results but you will have to do the work. There will be no magic pill. There will, however, be clarity, consistency, and rule-based procedures.
I believe that if you make effort you will see results.
How It Will Work
There will be three sessions. We will meet once a week for 90 minutes each time. Here is a general outline of what will be covered at each session (subject to change).
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