Could This Be The "Huge Winning Trade"
You've Been Dreaming Of?
Provided By: Norman Hallet
It's
why we all signed up for the battle
against the markets.
In the beginning, we
read an article or saw a sales leaflet
about a guy who took his last few
dollars and parlayed it into millions
in the markets.
It usually involved
a simple secret that
when revealed to you
(for a few hundred dollars), you could
have the same success.
Most of the time, we
would chuck the article/leaflet into
the trash as garbage, but at some
low ebb in our psyche, the article
read like the answer to our prayers.
Most of us joined the
fray for the "big hit".
Whether we 1-2-3-counted
with Ken Roberts, waved with Prechter,
seasoned with Bernstein, or banded
with Bollinger, we all soon realized
that if we were going to stay in the
game, we needed something more than
desire and a dream….
We needed a back-tested
system that we could have confidence
in.
We realized that we
needed to take our emotions out of
trading and look at trading like a
professional… like a job.
Now, that doesn't mean
we can't have fun, because winning
traders enjoy their jobs like no others.
So, we either adopted
a guru, inspected his archives of
trades (that's back-testing, right?)
and watched him/her live for a while
before jumping in, or we bought software
to test a system we thought could
work.
Our system in hand,
we saddle up to the computer.
We have stops to defend
against losing too much in one trade
and we have limits to make sure we
take our profits when our system tells
us to.
After a mix of trades
over the first few weeks, we hit on
a big one.
The news confirms that
we are geniuses and we are quickly
heading to our profit target.
In fact, we're just
ticks away. Hey, this heat wave is
bigger than anyone expected. There's
no way beans (or that stock or currency)
are NOT going to the teens!
"I'll lift my
limit and keep my eye on it."
Market closes 5 cents
above the (former) profit target.
"I'm getting good
at this. I'm really developing a market
'sense'."
You decide you'll put
a stop right at your (former) profit
target, so that if the market backs
off, you'll take your profit where
you were going to anyway.
(OK, reader, you know
what's coming).
Rain in the plains
overnight.
Soybeans open 26 lower.
Stopped out.
Your genius turned
a nice winner into a nice loser.
What happened?
The same thing that
happened when you read that original
ad that got you involved in all of
this….. You let your emotions
take over.
If you're still trading
after a few years, it either means
you have very deep pockets or you've
learned to control your emotions and
take the profit your system tells
you to.
You're going to need
them to overcome all the losses ….
and become the winner you know you
can be.
| Click Here to purchase a copy of Norman
Hallets' "TradingMind
Software." Your goal
from this program is to reshape
your mind and gain control over
your trading like never before.
This is the secret many traders
never get. |
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