Understand The Difference
On Saturday, I spoke to a small group of people [20-30] about
trading and how to get started, what to do, etc. During an afternoon break, I
had a lovely couple approach me and ask if they could speak to me privately
after the function was over. Of course I said sure thing, but wait until
everyone else was finished asking questions and then be the last ones left;
this would allow time for me to be thorough with whatever they wanted to talk
about.
Later, after making personal introductions, the mans wife
cut right to the chase; “We are afraid to
trade; markets scare us to death; the uncertainty surrounding the whole process
seems daunting and we can’t get our arms around it; and finally, we don’t know who to trust.
[I’m thinking to myself, “Well, is this all? Need vitamin advice? How about astrological advice
or winning lottery numbers?” Of course I’m just kidding here, but the ease
and straightforwardness of her request, along with her implied assumption I can
answer this, gives me wonder if I am slowly turning into Bert. If only my
Parents and/or Grandparents could see this, they would die all over again; “Wha? You want advice from who? He can’t even
mow the lawn right!”].
I know many of you are afraid to trade FX; just like this
woman, your fears outweigh your ability to act. The excuses and
hurdles are high, and your comfort zone in mediocrity is like an invisible ball
and chain around your neck.
Ohhhhhhhh, I’ve seen this phenomenon all my life. Commuting
out of the city for 10 years every day for an hour, you get to know all the
business types heading home to the burbs a little early. Every day they want to
know how much I made; every day after I tell them, they tell me how much they
a) hate their boss, b) hate the company they work for, c) hate their career
path, and of course d) hate their life in general.
“OK, I say, “Quit your job, lease a membership, and come
stand next to me in the pit and just follow me”.
“Hahahahaha, listen to
this guy; yea right, my wife would first kill me, and then divorce me. You’re
funny Barry, telling me to just do this. Hey guys, I can make $5K a day… Ha
hahaha.
“OK, I say, “Then stop asking me how much I made and
then shut the hell up and stop bitching about your life. You make your bed and
then sleep in it.”
Amazingly ……. Suddenly nobody is laughing or talking
anymore.
Fear is something that only exists in your head. What is
fear to you is opportunity for others. Fear doesn’t exist outside your head,
and has no basis in the universe.
Danger, on the other hand, exists and is real. Stand on
a mountain cliff 3.000 feet above the next step, and it doesn’t make any
difference how many college degrees you have, how old or young you are, whether
you believe in President Goebbels “Hopey Changy” BS, or if the sun is shining
or it’s cloudy, take another step forward and you will be dead in short order.
You simply take the necessary actions to avoid the danger, or you suffer the
consequences of ignoring it.
Following the trading algorithms will solve both fear and danger.
If brains were enough to be successful, everybody that
trades would be a millionaire; how come their not?
What have I repeatedly said about the main priority of the
trading algorithms? The Number 1 goal of any algorithm should be to keep
you out of trouble, and after that make you money. [Sadly, most of the
algorithms (trading plans) made available to the retail public have the
priorities reversed] Danger of account destruction avoided.
Pure and simple; Fear is the result of not being able to trust or
follow an algorithm. You defeat fear in 3 steps; 1) acquaint
yourself with the algorithms and the MT4 demo account functions, 2) trade the
play money exactly like you would if it was real, and 3) start your
real trading with a relatively meaningless amount of money [whatever that
amount is for you] that in the worst case scenario isn’t
going to change your lifestyle one whit.
Who do I trust? Are you kiddin’ me? Easy.
Exactly: I Trust Me
I don’t want, nor do I ever expect, anybody to “trust me”.
You got eyes and you got a brain [well, most of you]; use them. I have
given you all the tools necessary for success, as well as access to me. Whether
you do things yourself, or you have your funds managed, YOU are always in
complete 100% control of your account, your money, and ultimately everything
you want to do.
Back to the couple in question; they are going to 1) first
open a demo account at Assets FX and trade EURJPY, with the “Long Term –vegas Big
Bang Algorithm”, for the first quarter of 2014, 2) after that they will
evaluate their success and open a real account to trade themselves with $1K, and
also at that time have me manage $1K either with Assets FX or through a
brokerage house at C2. Their total risk is $2K; they spend more than that on
theatre tickets during the year.
The problem for them is solved; question is, can
they follow directions and actually do it.
As we start 2014 trading in a few hours, for you Newbies, it’s
time to get off your duff and do something.
Have a great day everyone.
-vegas
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