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Myth #1

Trading can’t be learned!

17 Responses to Myth #1

  1. You made some good points there. I did a search on the topic and barely got any specific details on other sites, but then happy to be here, seriously, thanks.

    - Lucas

  2. Ron says:

    Good lesson.
    I find a similar situation in education. Successful students are invariably those who can focus and filter out distractions. Having the right attitude in wanting to learn and persisting until the objectives are achieved or mastered by practice and repetition ensures success. It seems the brain needs to have a certain infrastructure or network set in place to enable building and progression to occur otherwise it will randomly seek sense but this may be contrary to achieving certain objectives. Once the foundations are laid, the whole process becomes more efficient, even unconsciously and habits are formed which are desirable if they are good ones that is.

  3. Smurfas says:

    nice, lets see whats next

  4. Edwin says:

    Valuable information, but most beginners do not realize the importance of mental training as part of the trading experience. Wish I had heard this a long time ago. Best of trading wishes to all. Thank you for the valuable lesson!

  5. Fiona Connolly says:

    Hi Todd
    Thank you, I have really enjoyed 1 however dispite having signed up twice i have not got access beyond number 1
    Hoping you can help.

    Fiona C

  6. Raj says:

    Trading can only be learned if the person stays disciplined!

  7. George A. Hodges says:

    Presented in a relaxing fashion that educates i.e. the glossary, principals, biological science, and makes me want to learn even more.

  8. kingsley says:

    it interest my reticular formation and i will like to learn more about it.

  9. Mike says:

    Very logical analysis. instead of keep emphasizing to must have a trading plan, we look at the mind/brain. thank u for the insight.

  10. Claude says:

    Just one comment: well thought of, I never thought of trading this way. I guess a plan in everything you do is the most important path to success.

    Claude

  11. Superb blog post, I have book marked this internet site so ideally I’ll see much more on this subject in the foreseeable future!

  12. maria andros says:

    Great work keep it coming, best blog on earth

  13. Find and select some good points from you and it aids me to solve a problem, thanks.

    - Rob

  14. You made some good points there. It semms to be useful für me

  15. My partner and I really enjoyed reading this blog post, I was just itching to know do you trade featured posts? I am always trying to find someone to make trades with and merely thought I would ask.

  16. Very good article, well written and very thought out. I am looking forward to reading more of your posts in the future.

  17. admin says:

    Traders this one is KEY and a great / frequently asked question. NO. 1 is to FOCUS ON THE OUTCOME…in the past I’ve talked about the fact that we typically move towards PLEASURE or AWAY from Pain…so let’s look at the facts that are out there in our business. These will vary 2-5% based on the study but the bottom line is 90% + of traders fail, about 5% break even and the rest make money. SO LET that soak in a bit and i know we all say ‘I’m one of the 5% and that is GREAT as we are typically individually positive and goal oriented to some degree. Seriously, anyone seeing these statistics that didn’t feel good about their chances to be ‘one of the 5 percenters’ would curl up in a ball and give up the dream of trading for a living. SO FOCUS on the outcome and KNOW that the main reason most of the 90% failed is because they decided NOT to do what was necessary to develop profitable habits. MOST traders focus ONLY ON THE MONEY. SO, when the money doesn’t come immediately using a system, set of indicators or idea the trader gets frustrated and thus moves on to the next big thing…At this moment WHATEVER we focus on tells our Reticular Formation what to let through and literally ‘allows us to see’ that info. EXAMPLE: The previous system had 5 winners in a row only 2 give all profit back on 2 losses. CONCLUSION: The stops are to big. So, to avoid the pain just caused by our perception on only 7 trades that the stops are too wide we now look for a model that uses much smaller stops even though the previous system may be an overall winner we are blinded by our NEED TO AVOID PAIN and thus move on! I DID IT. MY CLIENTS have done it and YOU HAVE and MIGHT do it unless you make a CONSCIOUS decision to change. WHY? Because DECIDING NOT to change now is basically saying I’m ok ending up in the 95% camp and I’m going to continue to struggle, feel frustration, discontent, anger, sadness and lack until I finally lose enough money that the pain is too big for me to continue my search. Then my new reality is TRADING DOESN’T WORK. It can’t be taught. Which the evidence clearly shows is wrong Trading is a SKILL that can be and IS BEING taught to people just like you every day. YOU have to DECIDE to invest the necessary time up front to acquire this skill….Think of a doctor / attorney / accountant and every other professional that has ever developed a skill. WE ALL have done and DO things daily, weekly, monthly that we aren’t excited about but accept as necessary parts of life. Let me say though that WHEN you get your system, trading plan and so on down and get consistently profitable!!!! How did that just FEEL? You saw yourself as a profitable trader now ATTACH that feeling to Back Testing. The sad part is that literally everyone who is REALLY COMMITTED to learning Can and Will WHEN they recognize a couple of key facts. SO focus on the outcome which is consistent profitability and not on what ‘should’ work or what you’d ‘like’ to work. ie. I just want to sit down for 10 min in front of my screen anytime of the day and be guaranteed a profitable trade. This is dilusional.

    NO. 2 Start now to change the base Neuro Association of testing is boring to Testing is necessary for me to develop my trading skills that, when mastered, will help me earn_____ every month and enjoy___________. I teach traders to literally speak it externally so they can feel the emotions… MAN I LOVE to test my strategy because it allows me to SEE the signals and TRAIN my brain to ACT consistently in the LIVE markets. And WHEN I DO THIS day in and day out I wind up profiting as a trader and earning the $______every month / quarter / year that I DESERVE!

    Remember traders, we are what we eat and we become what we think about most! Are you controlling your thoughts?

    Trade what you SEE!
    Todd

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