Average vs Great - Which Do You Want to Be As a Trader?

August 21, 2008 by admin · 8 Comments
Filed under: trader training

You’ve heard the saying,

“Anything worth doing is worth doing well.”

When it comes to making money, then isn’t that even more true?

In this video, we explore the differences between being an average

trader versus becoming a great trader and why you should pursue

greatness.

Enjoy!

Cheers

Brian

P.S. In trading, being average stinks because the average trader is losing money or
making very little for the time they put in. Decide right now that you are going to
become a great trader so that you can realize the life that you got into trading for
in the first place!

http://insideouttrading.com/pit/great.html

Tags: courses in currency trading, day trading forex currency, daytrading forex currency, stock trading, trader education, trading for beginners.learn option trading

Time to Profitability

August 19, 2008 by admin · 1 Comment
Filed under: trader training

“Time to Profitability” is a concern of any new business
but of particular importance in the trading industry
because of the potential for loss and the leverage that
is working against you.

When any new business starts up, it takes a period of time
during which the business is getting established.

Those with experience in starting up new businesses know
that research and planning considerably shorten the time
it takes to get to the point of a smooth running operation.

Most new businesses fail because the owners don’t have the
experience in the industry they are entering, or don’t have
experience in starting up a new business - or both - and
they don’t get to the point of profitability before
exhausting their startup capital.

This is especially true in trading, where most of the
people choosing to become traders lack experience in both
categories, which puts the odds severely against them.

If this sounds like you, then don’t feel bad. When you first
started trading, they were mostly just telling you about all
the money to be made in trading and not all of the realities
associated with it.

Ironically, the failure rate in trading is the same as it is
in general with new businesses, but with one important
distinction.

Time to Profitability is even more important in trading
because there is more than just the cost of doing business,
losses ARE going to occur even when the business has fully
matured.

Now if you have started your own business before, then you
know the truth of the above, and you also know that trading
presents unique challenges.

If you’ve never started a business before, then you have
probably already figured out that trading is NOT simply
“something to do to make money”. It is a real business if
you want to have a reliable and consistent income from it.

Plus, you’ve also realized that it is unlike anything else
that you’ve done before and it certainly isn’t as easy as it
seemed it would be at first.

One thing that you probably have experienced is the difference
that it makes when you go into a new occupation and you
receive training for the job versus if you’re just ‘thrown
to the wolves’ to figure it out all on your own.

You get established and proficient MUCH faster and easier when
you have training.

Training shortens the time to profitability considerably.

Now as a trader, you are both the trader, the manager and the
owner of your business. You have multiple roles that have
different requirements.

If you want to shorten your time to profitability in the
business of trading (which you’re now in), then wouldn’t it
be worth your while to pursue training that will help you
QUICKLY develop the knowledge base and skills for the various
roles that you have as a self-employed trader?

You’ve heard the saying,

“Anything worth doing is worth doing well”

and it is especially true of trading because of the leverage
involved and the fact that you can lose too much money too
fast to go about it halfway.

In trading, you either get good at it as quickly as you can
or odds are that you’ll fail and pursue something else. So
the question becomes…

Do you have the desire to become a GREAT trader?

If any of this resonates with you and you’ve got just one
hour a week, then I invite you to check out the Trading
P.I.T. (Professionals-In-Training) Club, where you’ll
receive training on how to become the great trader that
you know you’re capable of becoming.

http://insideouttrading.com/pit/great.html

You’ll be glad that you did.

Cheers

Brian

P.S. Unless you have unlimited funds to trade with, I
strongly recommend that you consider the training offered
here. Besides, you really don’t want to wait any longer
than necessary to get to the point of consistency and
reliability with your trading business do you?

Now is the time to act.

http://insideouttrading.com/pit/great.html

Tags: courses in currency trading, day trading forex currency, learn forex trading, stock trading education

FREE Six-Lesson Mini-Course on E.I. for Traders

August 6, 2008 by admin · Leave a Comment
Filed under: trader training

The ability to keep your cool, make good decisions
and to act decisively without hesitation is arguably
the most important skill you can have as a trader.

That ability is more accurately known as Emotional
Intelligence, or E.I.

You may have heard of E.I. as it is commonly known,
and that it is taught usually in the workplace, most
often targeting managers.

But in trading, Emotional Intelligence takes on a
whole new meaning.

For the beginning trader or a seasoned veteran, E.I.
is critical to avoid mistakes.

To help you along with developing your E.I., I’ve
created a six-part “Reader’s Digest Condensed
Version” of the training that members of the
Trading P.I.T. Club get.

Each of the lessons in the mini-course has an
assignment to go with it, so that you benefit
by doing, not just reading.

You can have this mini-course at no charge, simply
by going here,

http://insideouttrading.com/pit/

I hope that you get it and put it to use. You WILL
see the difference in your trading, even just from the
mini-course.

Cheers

Brian

P.S. Books on trading psychology are wonderful, but if
you want to build skill, then you need to take action.
Reading only gives you knowledge, action brings experience
and that is what builds skill. Get your mini-course now!

http://insideouttrading.com/pit/

Tags: courses in trader training, Emotional Intelligence for Traders

How Much Are Your Emotions Already Costing You In Your Trading?

August 5, 2008 by admin · Leave a Comment
Filed under: trader training

Trading can be a very emotional occupation and unfortunately, emotions are the cause of more lost money than the unpredicability of the markets. It’s easy to see in action too. Whenever you hesitate to get in on a winner, that costs. Whenever you hang on to a trade too long and don’t take your profits when they are in hand, you’re just giving that money back to the markets. Staying in a winner until it turns into a loser is one of the most costly mistakes caused by emotion. Every time you get out of a winner too early and cut your profits short is just more evidence of emotions costing you money.

“Once bitten, twice shy.” At the root of most of the problems in trading is fear. Fear that because you’ve felt the sting of an avoidable loss before, that it will happen again right now. That fear is what causes the hesitation, the hanging on too long, the getting out too early.

There are other feelings that come into play for sure, like greed, hope, despair, guilt, shame, anxiety, confusion, anger, pride, and a host of others. One of the biggies is revenge. When you’ve been hurt with a painful loss that has you licking your financial wounds, there is a part of you that wants revenge. You want to get back and the markets and get your money back. It’s a natural human response.

One of the problems is that trading is an activity that in many respects runs counter to our nature and everything that we’ve learned growing up. Our emotions are part of a survival mechanism that in trading, tend to work against you. It’s not natural for you to step into a potentially dangerous situation, get hurt (take losses) a fair percentage of the time, be okay with it, and then step right back in. The natural reaction is to protect yourself, in trading, you’re dealing with the unknown behavior of the markets, plus trying to absorb a large body of knowledge along the way..

Now, getting your emotions under control, or at least to the point that they no longer interfere with your ability to make good decisions and act without hesitation when the time calls for it takes more than just will. You can’t just ‘force’ the discipline to stick to your system, at least not for long.

Fear diminishes as you replace it with confidence, and as your confidence builds, you’ll find that the discipline to do the right thing at the right time becomes easy. But again, you can’t force it. You have to develop a specific skill set, including a critical one called Emotional Intelligence - as a trader.

That’s quite a challenge, as most people that get into trading have never done anything like it before. It is a totally new experience, and like all occupations, it requires a specific skill set to be good at it, to be confident and keep your cool under pressure. Most of the time when you move into a new occupation, you get trained for the job. Your employer knows the importance of helping you establish yourself and making sure that you have the skills to be good at what you do. For most traders though, they never get that chance. It’s ‘train-yourself” on-the-job training, which in any occupation would be seriously short-changing you if you want to be successful.

In the past, about the best you could do was to buy a book on ‘Trading Psychology’, which is a conceptual approach to trading, and many books on the subject were written by psychologists, not traders. The problem with this is that Emotional Intelligence is a skill - a specific ability. You don’t develop skill from reading, you get it from specific actions. Your skill grows and your paradigms shift from experience, not from simply acquiring new knowledge.

Until now, there has been little in the way of specific training on how to BE a successful trader. Most training that is available focuses 90% on the system, not on you as the trader, and certainly not on developing Emotional Intelligence as a trader. There is such training now available through the Trading P.I.T. Club by Inside Out Trading. The training consists of 26 weekly lessons specifically designed to eliminate your fears and give you the confidence you need to trade well, without the emotional influences that can be so costly in trading.

You can transform your trading experience from one of emotional losses to confident consistency by going here,

http://insideouttrading.com/pit/

Tags: courses in currency trading