Are you a consistent, losing trader?

Are you consistenly losing money in the Trading Game?

If the answer is no, then this post is not for you, go here ==> ABC of Profitable intraday Trading

Ok, you’re still here, so now the second question is:

Will you wake up tomorrow and hope that you will make money by doing the same thing again?

If the answer is Yes, I live in hope that by repeatedly doing the same thing the results of my actions will change, exit this post and go buy a lottery ticket.

Are you still here?

Ok, so here is the next question.

Are you willing to invest time and money on becoming a winning trader?

If the answer is no, like the previous question, exit this post and go buy a lottery ticket.

The Business of Day Trading.

Trading is a business like any other, with the exception that as a day trader you rarely carry any inventory, no shop, no products, no advertising campaigns and no grovelling to the boss. You are the boss, and here lies the main problem. In most organizations, one becomes the boss after years of experience and success, but as a trader you are the boss from day one. Do you have what it takes?

Most beginners read a few Technical analysis books, some buy a few automated systems (complete waste of time) and a smaller number of traders seriously invest in a decent education. They then finance a broking account and start placing trades, hoping to make money. However, trading is a sum zero game, for every Dollar you loese, someone else makes it and vice versa. Herein lies the main problem, from day one you are up against the professionals, both institutions and individuals who’ve been doing it for years and you start to lose money consistently, you blame the book you read or the system you bought, but continue to do it until you run out of money. Thanks.

How do you stop losing money and remain a Trader?

• Stop trading the method that is losing you money straight away, do not give it another chance.
• Find a system that suits your psychology, that is almost mechanical but still requires skill and judgement.
• Spend some time and money on improving your psychology. Find a way to control your fear and greed, don’t trade till you’re there.
• Go back to basics, revise your Money Management method and if you don’t have one, stop trading until you’ve got one that suits your capital and temprament.
• Understand that Day Trading is a Marathon, not a sprint, the idea is to consistently make money over time and not make a killing today, and then lose it all back tomorrow.
• No business makes great deals every day, these deals require preparation and planning, same here.

Are you still here?

Then I assume you have decided that I am not speaking with a forked tongue. I have been trading for a living for 7 years now and it is my main source of income. Anything sold on this site is for the benefit of the reader, and barely covers my expenses. But then, Trading is my business and not selling you a few $99 systems and methods. In fact, if you look at all posts in this blog you will find many tips and tricks on how to become a consistently good trader, completely free of charge. I run a very small chatroom with a colleague who is a City (London) trader and we discuss our trades, make calls and educate as best we can. We deliberately keep the room small, so that we know all participants and can help them. Again, this room covers our expenses, thats it. So, if you want to join its $120 a month and you find it here ==> Group Traders We will only take on a very small number of new traders, so if you’d rather lose $120 on another hope based trade tomorrow don’t bother.

I have been using a system developed by Russ called Forex Rebellion and it has consistently been making me good money based on the 4 hour charts of GBP/USD. Again it costs $97 and you can try it here or again, go blow $97 on another one of your losing trades tomorrow.

Finally for your psychology and finally dumping the Fear and Greed cycle that takes you from Bliss to depression in a matter of minutes you can get Guy Finley’s program here or of course you can stay where you are and watch it all drain away.

Now if you’re still and have followed my advice you will have spent a few pennies on your business, you can now look forward to starting the journey to success as a trader.

Have a good day,

Mark

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