Show me the money!!!!

Quoting howtotradeforex

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Thanks for the kind words guys, par for the course here at FF. SterlingTDR, I'd be happy to listen to any helpful sugggestions, comments ... Especailly if others will be able to benefit.
Mark

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Quoting robbooker

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Since some of my beliefs are summarized on these posts, I thought I might contribute something to this thread. Sorry for barging in if I am not adding anything here. But to start:

1. I truly believe that focusing on following your system -- and not on money -- makes an enormous difference.

2. I also believe that the Canaletto restuarant at the Venetian has the best pizza on the Las Vegas strip.

Ok, on to some points I made in my year 2006 preview. This is a really long post, but it does really explain my thought process.

How to be a better trader right now

I have something I want to get off my chest, and although most of you will feel that this more of the same from me, I really want you to read this. It’s important.

In the past 4 months, I have worked with about 30 traders in the web-based training and another 50 traders in the live training. These traders are from every continent on the globe. They are from all different economic and educational backgrounds. Some had trading experience. Some did not. Some I thought would be failures. There was one in particular, at a live training event, that I specifically considered to be totally unfit for trading, and this person has been the 2nd most successful trader of this year – and is now making a living from trading.

The fact is, that a greater percentage of my students are trading successfully than ever before. Easily, more than 25 of these 50 traders are now ending every week with positive pips. The number is probably closer to 35 or 40.

People always ask me: what’s the secret to success? And I tell them. Then I tell them again. Then I tell them again. But hardly anyone listens. Perhaps I don’t say it loud enough. Or often enough. Or angrily enough. Maybe, finally, more of you are listening than ever before. So I want to take a moment and remind you of the most important things you can know about trading.

1. Find and focus on ONE trading system, method, or approach. Buy it, borrow it, invent it – I don’t care. If you are not willing to do #1, then stop reading this and go play in traffic. Please, if you are not now focused on 1 system, then do it. Do it now. You will not be successful until you focus. If you don’t know what to focus on, and you are a 1 on 1 student, then read my chart analysis, and focus on support and resistance, and nothing else. Focus on channels and redline trades. I promise that you can learn this. You MUST focus.

2. Once you have a system or approach, never violate the rules or methodology of that system. Take the channel trading that I do, for example. There are only a few ways to use those channels – redline closebreaks in the direction of the channel’s slope; fibble closebreaks in the direction of the channel’s slope; Winnipeg Specials. That’s nearly all I do. Once you have the system in place, then wait patiently for your setup. Never jump in before your setup.

3. Never complain. If you are wondering if you can do this, if you doubt yourself, if you think that support and resistance is too hard for you, then do this: get a job working on a farm, milking cows or shoveling manure. Or go work for some crappy boss in some crummy cubicle for 12 hours a day, 45 minutes away from your house. Or go work for a fast food chain. Is that what you want instead? Listen: driving a car wasn’t easy at first. Learning to walk was not easy at first. The very best traders I have worked with all stopped whining and determined that they would be successful and they would not let anything get in their way. If you have an attitude problem, then fix it now.

4. Refer to #3. Here are the major complaints that I hear. First, that drawing support and resistance is discretionary. My answer: No duh. Start practicing. Send your charts to a friend, to me, to as many people as possible. Trade charts back and forth for a month and then see if it is still “discretionary.” Second complaint: that you don’t have enough time each day. Well, you know what? The best trader I have ever worked with, who is now helping to manage money with me and Max, he didn’t have time either. He worked from 8pm to 2am each night, then literally slept at his desk and waited for trades to trigger. After trading and sleeping on and off, he went to work selling cars during the day. Then he got home, at quickly, and went back to work. He made more pips every week than anyone. No complaining. Just performance. If you want to do this for a living, then you have to make sacrifices.

5. Clean up your life. Eat better. Speak and think kindly of others. If someone hurts you, then do something kind to them in return. Forgive easily, including yourself. Stop close associations with people who are negative, who complain about other people, who put you or others down, or who seem never to be able to be happy. This is all part of living with discipline, which is the easiest way to get what you want in life. But here’s the catch: gaining discipline can be one of the hardest things to do in life. Please remember that if you are a mean, vengeful person, then you will attract meanness and vengeance back to yourself, in your relationships, in your health, and in your trading.

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Quoting james16

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i realise most of you are new to trading and most of you are used to simple stuff you get when you buy the infamous 49 dollar ebook. trust me when i say that for the vast majority of you your stumbling over dollars trying to get to pennies. the reason why is FOR THE MOST PART YOUR TRADING LIKE EVERYONE ELSE BECAUSE THATS ALL THEY KNOW, AND BECAUSE THATS ALL YOU HAVE BEEN EXPOSED TO. WHAT ELSE ARE YOU GOING TO DO. IF YOU KEEP DOING IT YOUR MOST LIKELY GOING TO END UP BITTER AND BROKE LIKE ALMOST EVERYONE THAT TRYS THIS BUSINESS. mean dishonest and lazy people are a dime a dozen. you either are or your not. the reason i respect rob booker is not just because he teaches good stuff its because he is the real deal on the inside. he will tell you the truth whether you give him your money or not. for those of us who have treaded these waters for a long time its not something you see everyday to say the least. rob booker is not succesful just because he can teach you to win its because he does the right thing when no ones watching and those kind of peoiple are not a dime a dozen. it has nothing to do with relegion it comes from personal experience that what goes out comes back and taking notice of it and adjusting and improving your life in areas where you know you need to. garbage out garbage in. jim

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Quoting Isotonic

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agree completely. i think that you and rob are two of the best mentors i've come across.

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Quoting Isotonic

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agree completely. i think that you and rob are two of the best mentors i've come across.

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