Thoughts on Trading

Thoughts on Trading

Having just returned from giving two seminars plus a private tutoring in Germany, I wanted to share something that I have realized previously and realized once again while I was there: The most important aspect of trading involves behavior modification. It never ceases to amaze me that people will attend a seminar, mostly looking for something magic. A secret, never-before-revealed indicator; to watch someone trade in the hopes that they can pick up some of the magic; to learn the trading secrets of some supposed trading guru; or to find the way to becoming rich quick.
Seldom do I see someone who attends a seminar because they are interested in behavior modification. At the beginning of a seminar, I ask each person to stand up and tell a little about themselves and why they are at the seminar.

While the answers are adequate, sometimes even good, I cannot recall anyone standing up and saying,
“The reason I’m here is because the markets have humbled me more times than I care to remember. I’m here because I need to change the way I behave relative to the action I see in the markets.”Please believe me when I say that Behavior modification, is without doubt, the key to your trading success. It has certainly been the key to mine. What I’m talking about here involves not only in how you think but also how you act under certain circumstances and in a variety of situations. To be successful, a trader must adapt to changing market situations over which he or she has no control, and you must change the situations over which you do have control.
I wrote about this in my book Trading is a Business. I am constantly reminded of it when I meet people who are hungry for trading success. However, this is not what the industry or most trading educators will teach you. Yes,there is a certain amount of basic knowledge that you must have, before even attempting to trade. You have to learn the language of the market. But learning the language doesn’t make you successful. It is a mere stepping stone along the way. You learn about indicators, moving averages and oscillators, but these, too, do not bring you to success in trading.

You read a lot of books. You fill your mind with a lot of confusing information and opinions. But none of that helps you on your way to success. In many instances, instead of helping, all of these things act as hindrances to your becoming successful. Finally you reach the point of desperation. Surely there must be someway to find success in the markets. And there is! It has been right there above your nose all the time. The problem is not the markets. The problem is not that you haven’t found the magic indicator, method, or system. The problem is you. It is the way you think. It is the way you behave.

It is the way you react to certain situations. Until you come to  recognize this truth, you will struggle. You may give up and look elsewhere. But you will find that real success evades you. I don’t like to suggest to you that you do something about behavior modification without also giving you some information that can be of help. I feel that when I see something “out-of-the-ordinary” for futures traders, I should tell you about it immediately!  If your trading discipline waivers when markets get volatile, if you doubt your trading system after a few losing trades then the following may be for you! It is the first REAL mental training tool I’ve ever seen, made especially for Futures Traders.

by Joe Ross

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