Quite often I receive letters from one trader to another. Of course, over the last few years, I have met many traders — some who understood the significance of receiving quality training and others who did not. Today, I received an email from a client, who was really new to trading when he began with THD. I remember his frustration at learning a new platform, new methodolgy, and all the indicators. Yet, he persisted. He took pages and pages of notes, from the seminars, as well as from the live trading room and webinars he attended. Although he is beginning to taste “minor success” in his own trading, it has not been without pain and frustration.
I wanted to share his words with you because becoming a successful trader is not unlike any other career path — it takes education, training, and years of hard work. Although price may simply move up or down, it is the ability to control one’s own impulses, emotions, and behaviors so that they enter at precisely the right moment. And, if the trade goes against them, they do not blow their account with losses. Instead, they have learned to use risk to reward to their advantage to compensate for the losses (in other words, they have planned ahead for the losses).
From One Trader to Another Letter
I hope this description gives you some personal gratification for the work that you commit to day in and day out!
About seven months ago I stepped away, with minor exceptions, from THD having filled my head with your words and drafting some 14 hand-written notebooks of your classroom training, trading room, and webinars.
After the latter eight months of 2010 with THD I felt capable and ready for trading? So, I opened an account with Trade Station and through there Sales I capitalized on the 6 month free TS data feed in several markets.
Not surprisingly after the first 14 weeks my SIM account was down $4710 staying exclusively with one contract and a constant tight Stop. In the next 18 weeks my account had re-cooped the losses and gained $2660. From this point I began trading both SIM and Live.
One could easily argue that my decision to Trade was premature? However, I believed firmly that I was ready and I am forever grateful for the SIM Mode. Clearly, any trader starting without SIM would be tantamount to financial suicide! That period has imprinted my psyche the weeks of substantial failure, and finally some proven (reasonable) success. I can now see all that you were trying to drive into our brains and what lies in front of any new trader? All of which demands caution while building experience!
There’s no question that your extensive THD material together with your elaborate and descriptive insights has brought me to experience the success threshold. From one trader to another, I sincerely hope that your clients understand that Live Trading can not be taken lightly, or the individual trader will learn very quickly that THD has the ability to train the trader — not an uncontrollable ambition.
Without a doubt, the Trading Plan and recognizing trade components are linked not, so much that one might miss a trade, but rather commit when elements are missed or misread causing an expensive loosing trade. The question will always be did the trader read, decide and anticipate indicator directions, momentum, higher-time-frames and seeing trade conformations or warnings to stay away.
I thank you for all of this. I have tasted real, though minor success and you together with THD are mainly responsible for that!
I will always be your student