You Will Never Become a Simple Trader

simple trading
Ever notice that a hot model always gets more attention (clicks)? Read this anyway…

“How can I learn to trade?”  There is perhaps no single question that we get more frequently than this inquiry.

Actually, there is one that”s more frequent… “How can I learn to trade…quickly?”

As a general rule, we struggle to answer both questions, although the answer to the latter is fairly easy…you can learn quickly, but it takes the rest of forever to “become” a trader.  Trading is, at its core, incredibly simple, but the journey to consistent profitability climbs some pretty steep hills and descends into a number of deep valleys.  How does one convey all of that over a drink (or 6)?  In a phrase… “ya can’t.”  So we thought that we would list a few of the more pertinent obstacles here as an easy reference point to which we could direct folks.  While not exclusive, we’re confident if you can avoid (or embrace as the case may be) the majority of these, you can get moving toward consistent profitability. Feel free to (i.e. please do) share…

  • If you are unwilling to fail… sometimes out loud… sometimes publicly… and sometimes perhaps even catastrophically… you stand very  little chance of becoming a simple trader;
  • If you care what your family, neighbors, friends, etc. think (how you look to them), you will never become a simple trader;
  • If you can’t bear the thought of causing worry to your lover, spouse and/or family as you plow a lonely, difficult road while endangering (or refusing to take) a “safe” regular job, you will never become a simple trader;
  • If you have artistic inclinations and think perfecting your trading technique will negatively impact and/or degrade your talent, you will never become a simple trader;
  • If you don’t know yourself/can’t learn yourself, you will never become a simple trader;
  • If you cannot control the fear and greed monsters that invariably rear their heads in the course of trading, you will never become a simple trader;
  • If you need to “be right” all the time, you will never become a simple trader;
  • If you don’t understand (and thus cannot control/minimize) your risk, you will never become a simple trader;
  • If you are not prepared to work longer hours than anyone you know you will never become a {full-time) simple trader;
  • If you are not prepared to dispense with your current investing “knowledge” in lieu of more useful and verifiable trading knowledge, you will never become a simple trader;
  • If you cannot convince yourself that you are “good enough” and deserve the spoils of proper trading, you will never become a simple trader
  • If you cannot treat trading as a game, you will never become a simple trader;
  • If you think trading is sexy and glamorous, you are highly unlikely to become a simple trader;
  • If you must know “why,” your trading success will be extremely limited if not impossible;
  • If you can’t take 3 small steps backward to take a giant step forward, you will never become a simple trader;
  • If you think you can cheat your way to success, you will never become a (real) simple trader;
  • If you think your success or failure as a trader is determined anywhere outside your own mind, you will never become a simple trader;
  • If you are hyperfocused on the dollars, yen, or pounds (the money) you will never become a simple trader;
  • If you can’t keep your mouth shut about your market moves (good or bad), you will never become a simple trader;
  • If you cannot focus on the process of trading well as opposed to the outcome of any particular trade, you will never become a simple trader.

Do note that while all of these comments…thoughts…musings apply to trading generally, some are more specific to intraday trading and/or trading as a profession.

Note also that while we stated in many instances “…you will never become a trader” we recognize that’s a bit much and certainly not necessarily our place to say… and yet, the more of these characteristics you have, the more right you will find us to be.

Yeah, we said it.