Millionaire Traderson day one of the training writes to me and tells me their goals for
the training are to make between 1,000 and 2,000 pips per month
or to take a 10,000 account and double that account before the end
of the month, I can then really tell from some of those types of
catch phases that I’m working with an individual who needs some
deprogramming. So I invite them to consider some alternative
perspectives so that they can approach trading from a different
mind set. Those people don’t always listen, though, because they’re
under some type of external pressure. When you’re trading to pay
your bills, it’s significantly more difficult to stop when you’re ahead
by$20, especially when your gas bill in the winter is$250. They’ve
got pressures on them that are more than just what an average
impulsive individual would have. The second type of individual
who’s a little bit behind on the curve is going to be somebody who’s
just naturally impulsive. Someone who naturally makes decisions
that are significant, really quickly, doesn’t put a lot of thought
into it, talks a lot about how their gut reaction to something is,
XYZ, and they have a feeling that it’s going to go up or down.
Those types of individuals I invite as well to consider a different
mindset and perspective. The people whom I can recognize are
more successful at times are the people who seem to be very laid
back about the training, meaning they’re not as severe or have a
type-A personality about the training or trading in general, but who
are the type of people who enjoy testing and enjoy experimentation
and are interested in validating or verifying the success of a system
before they actually implement it with real money.
Q: You mentioned earlier that you have a network of traders that
you trade with or communicate with. Are these all former students
or external colleagues?
A: Ninety percent of them are former students. The rest of them
would be professionals in the industry whom I trust, whom I might
write and say, you know, I’m in the middle of this trade right now,
and it’s just awful, or it’s going well, etc. Basically people who have
different experience and can offer me a little bit of perspective. So