PipStop

Some might read it Trading AT the Gym, but I just wanted to share some thoughts that occurred to me when I was at the gym last night.

I won't soon forget what Tom Sosnoff the founder of thinkorswim.com said in a session at the LA Trading Expo last month. In essence it was, if you want to be a successful trader, trade ALOT.

The point that he was making which was a light-shining moment for me last night was - effort and consistency. Just like going to the gym once a week or once a month or once a year isn't really going to make a difference, trading every once in a while isn't going to do too much good either.

What happens at these points of inconsistency is we try to make up for all those other days, weeks, months that we missed out on. We try to pack a full body workout lifting weights we were used to lifting (when we were in a workout routine), and similarly traders seem to take a go big or go home type of approach when trading sporadically - ESPECIALLY when small gains are made - there's a feeling to push that much more.

Really, though, Forex trading or any trading, whether it be equities, commodities, etc., can be related to most things in life.

When you're in the zone of trading, you'll relate everything to life. You walk around, you drive around and everything is relatable. And it should be. Trading shouldn't overwhelm our lives, it should be a part of it.

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I can't believe how fast the days and weeks go by. This past week was particularly crazy. It just seems like Monday was yesterday.

I consider myself pretty technically savvy. So the past 12 hours or so has been pretty, pathetically frustrating.

Most of my outbound emails are being identified as some sort of spam. Oh well, patience is a virtue I'll need to exercise until it's remedied.

(As I type this the USD is getting clobbered. With a big metal pipe I think).

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Since my Trading Post foray into Facebook, it's been a pretty interesting experience. I've connected with upwards of 700 traders there and have exchanged emails with a number of them. In the past hour or so I've probably responded to about 20, and the questions and comments are varying.

There are a few who I'd want to explore Trading Post working with as I see a similar philosophical vein - that is that Trading is serious business and not everybody should be doing it. Then there are those who are new and looking for direction.

One day, I will write a book - a compilation of my thoughts as I've heard trader experiences - and one of the chapters will be entitled "Misguided Guidance." Folks figure they can rely on a "friend" who says he's doing really "well" in trading and think wow, if "So-and-so" can do this, why can't I?.

Then because their "friend" is suddenly reluctant to share their phantom strategy, a trader wades into the vast unknown of the "Internet." Suddenly they realize the abundance of websites, systems, forums, news sites, guarantees, flashy flash stuff all over the place. And they attempt to follow. One thing, after another thing, after another thing. The chase is on, and they will run themselves ragged looking for the way that will make them money.

What they don't realize is what will help them to be successful is between their ears, and they have to condition it. The often overlooked, unsexy, standing in  the corner of the dance floor - trading psychology.

With that I'll share an Facebook mail that I received today and share part of my answer.

Hi ,
That's great
I will love it if you canstart from the basics as to the things I must know, technical names and what they mean (eg. PIP) and how to monitor to buy and sell?
Do I need a broker?
How hard or easy it is without a broker
thank you
looking forward to hearing from you

... Buying and selling is a learning process. You will come across many people who will tell you that they can sell you a service of when to get in and when to get out. Ultimately for long-term success it's something you need to commit yourself to learning on your own ...

Trading signals are a means to an end, it ought never to be an end.

I also got an invite to a new forum, and I gave a long winded answer of there are too many forums, it's cluttering the landscape, and there are too many forums for anyone to bother paying attention to. I gave my honest feedback, and hopefully I'm not viewed as a total blowhard.

There's just TOO much out there. And I don't intend on being the INTERPOL of the trading world, but it is getting pretty ridonkulous.

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Later today I'll talk about trading and working out.