The Dimensions of a Successful Trading Entity

Many considerations go into creating and running a successful trading entity. We’ll look at the most popular which get the most attention, right through to the most important, which usually get the least attention.

Here is the list:

1. Entry signals
2. Risk management
3. Exit signals

4. Reliability
5. Reward to Risk
6. Opportunity
7. Capital management

8. Objectives
9. Familiarity with Markets
10. Resources
11. Mindset
12. Style
13. Management

Most, and by most I mean probably close to 80-90% look at number 1 and that is it! That is a startling reality, but a reality nonetheless. But there is a reason this happens. Most new traders are unaware that such a large number of traders ultimately fail in this business, and more importantly, this fact is well known by the very people who market trading in this way.

But enough of that, let’s look at some serious considerations you should make and the order in which you need to do it.

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The index futures trader…

I received an interesting email recently from a 11+ year experienced index futures trader who wanted to know if a particular program would enable him to take his trading to the next level.

At first I wasn’t sure which program he was referring to and also at what level he was trying to get to, let alone which level he was currently at.

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…But Why?

You may have heard the statement before; the biggest battles traders will face are within. If there was an explanation as to what these sorts of battles are it’s more than likely along the lines of overcoming bad habits, emotional issues, biases, beliefs and so on. But why are these so important to master, and why is it so hard to do so?

I’ll address why it is so important first, as a lot of traders believe that trading should not be so difficult in that if one set of rules works for trader ‘A’, they should work for trader ‘B’.

When a math teacher is attempting to teach a class the 12 times table, some students get it straight away, some take a bit of time, and some can’t grasp it at all. Now let’s just assume that it is important for children to learn the 12 times table, if some are grasping it straight away and some are not, then is it the method being used to teach it the reason some can’t grasp it? Well yes and no.

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..And Where You Fit In

We as humans have the ability to evolve intellectually and have done so at a rapid rate, but when it comes to emotions we have been unable to change in thousands of years. The saying “This time it will be different” is coming from the perspective of an intellectually evolved civilization, one that is somewhat aware of history, but emotionally has not changed at all to prevent it from repeating.

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I have spent an awful lot of my personal time putting together a 69 minute video for traders that I believe will open the door to understanding how to trade successfully.

This video is a trading system I call the 4 T’s trading system, and in this video you’ll learn the trading system itself, the rules and how to trade it. It will also show you I apply leverage to it, but more importantly how to use leverage with the trading system to achieve a goal or objective.

However it doesn’t end there. By the time you have watched this movie, I believe you will be able to take any trading system, not just the 4 T’s system and use it to achieve your goals. If you already have what you believe is a work-able system but are unable to make it work, this may answer your problems.

If you do have any questions after watching the video I urge you to send them to me, via the question form link which you’ll also find on my blog. I plan on answering any questions regularly so do send them along.

It is quite long, so make yourself a cuppa and enjoy
http://financialmarketfisherman.com

To your success
Dean Whittingham

What is it you want - part 2

Reading Dean’s last post the other day reminded me of a story I heard some time back that I think is very relevant to the topic of why we trade, and how we choose to trade.

Then not long afterwards I read Sean Rasmussen’s post in the bullhunters blog which reminded me of it yet again, so I’m going to share the story with you now.

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Let’s first determine if you need to be trading at all.

So you’ve decided you want to get into the markets somehow and you are looking to become an active investor or trader. It is at this time that it is safe to assume you believe you can out-perform most of the fund managers out there. Before you go dismissing fund managers, do the following simple calculation.

Write down your starting capital, the amount you have included in your trading plan.
Next, write down monthly goal, i.e. the amount per month you want to be making from your trading. It could be an amount to replace your current income, or an amount you’d like to see your capital grow at (make sure it’s a money amount and not a %). It’s important that you at least have a figure in mind.

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Who is Brian Dibbins?

You may have seen me on some forums as BJ Dibbins, but for those of you that don’t know me here is a brief intro.

My interest in wealth creation began in January 2005 after my brother-in-law loaned me a Jamie McIntyre free DVD from 21st Century Academy. Shortly after watching that I had ordered my homestudy package and since I was lucky enough to be on annual leave at the time I had the chance to watch them all within a couple of weeks.

To me, this was a real eye opener as to what was possible, and I still regard it as an excellent introduction to learning about wealth creation strategies and mindset.

So before the month was even over I had placed my first trade (hands up if you can spot my mistake?)

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