Microcosm of Trading
“Mr. Expectations, please meet Miss Reality.” Many are called, few are chosen.
I enjoy meeting prospective traders and discussing trading. Usually, I can give you a pretty good probability assessment of whether or not they will make it as a trader, or end up “chasing the wind”.
Absolutely nobody comes to trading a born natural. Too many things unspoken and unseen in your life to make anything else comparable. Soooooooo many expectations.
Usually a whole lot sooner rather than later, the trading world will collide with the real world you currently inhabit. Job, wife-girlfriend-mistress-whatever, money [of course], time, and last but not least commitment make a pretty good starting list of issues most newbies to trading wrestle with face-to-face. There is the proverbial game plan; then there is Plan B when SHTF.
Most people think the hardest part of trading is developing their proverbial “game plan”. Nope, it’s the easiest part of the hardest process you will face.
I’m going to tell you why the vast majority of people fail at trading: PRIDE.
I’ve finished the “easy part” for you; no sense in reinventing the wheel when the work has already been done.
Believing that you are worthy and can follow directions? Well, now we are getting down to brass tacks aren’t we?
STOP THE PRESSES !!!!
Trade Forrest Trade!!
I have just run into Forrest Gump, THE World’s Greatest Trader, sitting here on a park bench waiting for the bus. What a coincidence; I mean, who could have known?
Forrest, it’s good to see you again. Why I haven’t seen you since that fruit convention we both attended a few years back. How are you doin’ and what are you up to these days?
Uh-huh. I been trading your algorithm vegas.
REALLY?? How is that working out for you?
Well, I’ve made so much money, I’m thinkin’ of buyin’ my own bus company so I don’t have to pay the fare when I ride it.
Gee, that’s swell Forrest, but what …..
Ohhhhhh, it’s real easy vegas. I just follow the directions and all. I’m not the brightest bulb in the closet, but Mama did teach me to read and follow directions. You know vegas, life’s a lot like a box of choc………
Yea yea Forrest, I get that part. Can you tell my readers Forrest, what’s the hardest thing about making money with the algorithm?
Uhhhhh, well when I opened my account and had to send them the money, I was late for the bus, so I had to walk all the way to the Western Union. I think it was 5.135 miles, ‘cause I counted the steps. That was kinda hard.
Errr no Forrest, I mean when you started trading was there anything that was hard about the process? You know, getting going trading using the algorithm?
Well, sometimes I have a hard time adding up the money I make because they put all those commas between the numbers. It’s confusing! What do those commas mean anyway?
Well Forrest, thanks for the input. I see by my watch I gotta go get my hair washed. Tell Jenny I said “Hi” when you see her, and continued good trading with the algo.
Uh-huh. Can’t wait ‘till I buy that bus company.
Well, there you have it – proof positive that your greatest enemy to becoming a millionaire is simply being NOT STUPID ENOUGH.
Today’s Trading Action & Wrap Up
We came into today’s action in “neutral mode”, and have since changed into “buy mode”. Some days are quick; then there are days like today where it seems like the ice age ago when you started.
It’s important to be patient bear. I know you all have an urge to trade, but you must be disciplined. Let me say this again: you must be disciplined. Do I have to go back out and find Forrest at the bus stop again?
Our first trade came at 9:20 AM [Chicago time] at 1635.50. Stop on this trade was placed down at 1631.70. We got a confirmation top at 10:20 AM [Chicago time] at 1637.50. So, our gain on the day is $ 2.00 / oz. Not enough for a Ka-ching, but enough to show up and know that over the long run this is the type of gain that will make you filthy rich.
So, $ 2.00 gain for the day.
Have a good day everyone.