Millionaire TradersQ: Futures traders quite often don’t even think about points.
They talk about how many ticks did I make today. Do you do that
kind of internal accounting with yourself? Do you say I picked up
20 ticks, 10 ticks?
A: I don’t think about that at all. Instead, did I trade well today?
Did I do what I’m good at? Did I trade my plan? Did I take what
the market offered me? I don’t think in terms of ticks or points.
Q: You said you’ve mentored some students. How many have
you mentored?
A: 30.
Q: Out of those 30, how many have become profitable?
A:Four.
Q: So basically 10 percent?
A: Yes.
Q: The odds never change, right?
A: The odds do not change, and what’s interesting is in the first
90 days you can tell whether or not a person is going to make it.
Q: What are some very strong clues that a person is not going to
make it? What are the key characteristics that just make a person
not cut out for trading?
A: They try to make it a science. They’re stubborn and losing
trades bother them too much. They’re afraid to push the keys on
the keyboard.