Oct 03 2007
What are Your Expectations?
Often failure is the result of not being clear of what success is.
I’ve had my own rollercoaster experiences as a trader. There has been an extremely wide gap in the euphoria of big gains, and the depression of large losses. I look back and think, what were my expectations? What was my trading plan? I don’t have answers to those questions.
Did I just assume that I would become a successful trader just by virtue of having a live account and being active in it? The answer is yes.
I’ve had my own rollercoaster experiences as a trader. There has been an extremely wide gap in the euphoria of big gains, and the depression of large losses. I look back and think, what were my expectations? What was my trading plan? I don’t have answers to those questions.
Did I just assume that I would become a successful trader just by virtue of having a live account and being active in it? The answer is yes.
Today I was talking to Bruce who lives in update New York. In the past Bruce has expressed distress in finding out that we were increasing subscription service offerings. His feedback was, why make me spend more, when I’m struggling with what I am currently paying for.
The perspective that I shared is that we are all different personalities, and have different needs. Trading Post doesn’t offer a singular “system.” Perhaps what is perceived as our weakness – focusing on one system to show people how to trade, is our biggest strength. That is where choice comes in and that’s what Trading Post offers. We’re not saying subscribe to everything. What we are saying is find what suits you.
Trading isn’t easy. History has proved that trading “systems” don’t produce indefinite positive results for everyone.
Returning to my conversation with Bruce. He is in a period of trading self discovery, as am I. We both realize that there is something special in trading Forex, and it hasn’t come easy, but we both realize consistent success is possible with continued commitment and discipline.
At periods of trading desperation, don’t give up. Douglas Sereda, our VP of Advisory Services, and one who has over 25 years of trading experience has told me that if I can’t walk away when things are going great or horrible, that I haven’t developed the necessary discipline to be a successful trader.
So, know what you’re getting into. Always be aware of what your expectations are and be realistic. Be clear in your goals, and above all small consistent gains trump big gains and big losses. Don’t be afraid to take a losing trade.
-Sam
The perspective that I shared is that we are all different personalities, and have different needs. Trading Post doesn’t offer a singular “system.” Perhaps what is perceived as our weakness – focusing on one system to show people how to trade, is our biggest strength. That is where choice comes in and that’s what Trading Post offers. We’re not saying subscribe to everything. What we are saying is find what suits you.
Trading isn’t easy. History has proved that trading “systems” don’t produce indefinite positive results for everyone.
Returning to my conversation with Bruce. He is in a period of trading self discovery, as am I. We both realize that there is something special in trading Forex, and it hasn’t come easy, but we both realize consistent success is possible with continued commitment and discipline.
At periods of trading desperation, don’t give up. Douglas Sereda, our VP of Advisory Services, and one who has over 25 years of trading experience has told me that if I can’t walk away when things are going great or horrible, that I haven’t developed the necessary discipline to be a successful trader.
So, know what you’re getting into. Always be aware of what your expectations are and be realistic. Be clear in your goals, and above all small consistent gains trump big gains and big losses. Don’t be afraid to take a losing trade.
-Sam
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