Cemenk Cantique

THE TALE OF TWO TRADERS

Our first trader is Ned. Ned is an off-the-floor trader who day trades the S&P 500 Futures. He’s been trying to be consistently successful for the last six months. Unfortunately, it hasn’t worked out very well. But it’s not because of his methods that he’s having so much trouble. No, the main reason Ned is not making the kind of money he wants is because he cannot control his emotions and consistently act in his own best interest. From the very beginning, Ned was confident he would be successful day trading the S&P’s. He’d been very successful in his previous business. Ned owned a retail printing company and he’d learned to make good sound business decisions that helped him become very successful. He almost never made any major mistakes that were detrimental to the business. In fact, in over the nine years he owned the company, he really prided himself in always looking at the big picture and keeping his business moving forward. On the rare occasion when something did go wrong, Ned worked at lightening speed to fix the problem, and many times he turned the crisis into an opportunity.
Because of the smart decisions he’d often made, Ned was sure he could carry this into his new career of commodity trading. At least that’s what he thought would happen. So, when Nedreceived a generous offer from a corporation to  buy his printing company, he decided this might be the time to take the money and run.
It wasn’t that difficult for him to decide to sell. He definitely loved having his own business and, of course, it was that much more rewarding because he was successful. But for the last two years, he’d been so busy that he was working about 65-70 hours a week. That left very little time for him to spend with his family. This made the decision to sell very easy for him.
Another thing that made Ned’s decision easy was that he wanted to try a new business. He had learned as much as he could about commodity trading. He’d read as many books and magazines he could get his hands on. He definitely thought he could transfer his successful business practices to commodity trading. Thus, he could trade from home and be able to spend alot more time with his family. He was quite confident he would be a success in this endeavor too.

ACTING IN YOUR OWN BEST INTEREST

You will see this theme throughout this book. It is the most important concept you can learn in order to be a successful trader. If you can master this skill, you can be very successful in this business. But without it, you are destined to fail. It really is that simple. If you can learn to act in your own best interest, you will make a lot of money trading. If you don’t learn to act in your own best interest, you will lose a lot of money trading.

You see, the (futures) markets work in a very different way than almost everything else in life. There is more freedom in this business than probably any other business in the world. You can do what you want, when you want, pretty much any time the market is open. The only thing that will hold you back is running out of money. Other than that, you have all the freedom in the world to do whatever you want in the market.

Trading really is different from everything else we do in life. In the everyday environment, you can have control (at least somewhat) by taking actions that affect the environment. For example, if you wanted to listen to some music, you would have to turn on the radio. If you push the power button on the radio, music will come out of the radio. If  you don’t push the power button, the radio will not turn on.

Skills You Do Need

- Setting And Accomplishing Realistic Goals

- Learning to Love To Take A Loss

- Time Has No Bearing on Money

- Remaining Flexible

- Do You Deserve To Make Money

- Trading Rules

- Flawless Execution

- The Use Of Stop Orders

- How To Deal With The Market When It Never Stops Moving

- Being Objective

- Being An Active Winner And Loser

- Paper Trading After A Loss

- Self-Improvement

Skills You Don’t Need

-The Worst Mistake You Can Make

- Revenge Trading

- Wishing, Hoping, And Praying

- Doubling Up: Adding To A Losing Position

- Greed

- Fear

How To Improve Yourself

- What Is Psycho-Cybernetics?

- Some Background To Get You Started

- Mental Pictures

- The Success Mechanism And The Failure Mechanism

- Forgiveness

- Famous People Use Psycho-Cybernetics

- How To Use Visualization Techniques To Improve Your Trading

- Goal Setting Exercise

- Visualizing Large Windfalls

- Statement Equity Increase

-Pulling The Trigger Exercise

- Limiting Risk Exercise

- Clearing The Calculator

- Make Your Own Visualization Exercises

- More Relaxation Exercises

- Why Visualization Techniques Work

If  you want to read more complete please download ebook  The Secrets To: Emotion Free Trading by Larry Levin in here