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#7212 01/28/04 11:02 PM
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After reading the comments on the PhotoReading forum I decided to check out the other forums for curiosity reasons and came across your Journal. I was amazed at how open you were with this membership about your thoughts and feeling and the pain that you have.
I first read your comments last night and said to myself don't get involved, what are you going to say that would make a differents in this persons life.Sleep did not come easy to me last night because I felt guilty for not commenting on something that I am very familiar with, and that my friend is the commodity market, trading futures.
DON'T DO IT! You and a lot of other people are not ready to trade. Let me give it to you straight, you will lose money. That is the truth. You don't need that in your life right now until you are at peace with yourself.
I lose money, all commodity guru's lose money, everyone that has ever traded the Markets lose money.
So what make's a successful trader you may ask? You must have a good plan that works for you. You must have a certain mindset before you call your broker and everyday after that you are in the market.You must keep your emotions in check, and you must have more winning trade's than losing trade's. I'm sure other trader's can add to the list but that will do for now.
Here is another thing you need to know about a trading course. No one trading course or even a combination of courses will prepare you for everything that you will need to know. What kind of trading are you going to do? Straight options, futures and options, are you going to be a seasonal trader, fundamental traders,( probably not )technical trader, combination of the two, will you get involved in commitment of traders as a tool, and speaking of tools,will you use software to help you with your trade's and if you do what indicators will you use? All of them, some of them, some on some markets and other indicaters on other markets.
and speaking of Markets, which are you going to trade. Some market are easier than others for new traders, some market you should stay away form all together. some markets you could not afford to trade.
You must also consider what kind of trading you would like to do, Long term, short term day trader, swing trader.
Will your commodity course tell you what to say to your broker and how to say it. A little mistake in your order to your broker can cost you some real money. Will your course tell you about the different orders that are necessary in different situations at different times to get in a market or get out of a market.
How about your seed money, ( account ) will you put in $1,000,$2,000,$5,000 or even $10,000 in your account. Don't even think about putting anything less than $5,000 in your account unless you are trading options and then you would have to be what they call out of the money to trade. Some may disagree with this, so be it. How many contracts will you trade at a time, you can't make any real money trading one contract at a time, but more is riskier. What kind of broker will you use? full service or discount service. You will pay a broker out of your account a commission and fees on every contract on ever trade going in the market and getting out of the market. I did not write this in any certain order, just as it came to me.
PAPER TRADING: I know the commodity guru's tell you to paper trade for three months or so. You will do this in vain. This will help you in no way when you or anyone else decides to trade for real. First of all you have nothing to lose, there is no emotion attached to the trade. You don't have to call your broker, and as they say pull the trigger. A big part of trading is emotional and being able to keep your negative thoughts under control.
One last thing on this subject. Don't ever, ever, ever borrow money now or in the future to trade the markets. PERIOD!!

I have more to say about your Journal but only if you ask.

Because I care.
Dennis






#7213 01/29/04 01:20 PM
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Well.....
I had to go and release a lot after receiving that stream of negative talk, maybe I'll need a session of Prosperity as well. You sound as an unsuccessful trader, maybe someone bankrupted as a consequence of trading. I still don't know everything you are talking about the futures market, but that's something I'm still going through.

quote:
Sleep did not come easy to me last night because I felt guilty for not commenting on something that I am very familiar with, and that my friend is the commodity market, trading futures.
DON'T DO IT! You and a lot of other people are not ready to trade. Let me give it to you straight, you will lose money. That is the truth. You don't need that in your life right now until you are at peace with yourself.

That's a little something that makes me think you didn't read my full journal. I'm not trading right now, I'm paper trading and expect to be paper trading during a full year. I know that I'm not ready, my journal and the Ideal Mindset course are intended to get the necessary mindset to face the market. The key here that you seem to miss is that I'm working to get the mindset that will enable me to be a successful trader. And if you read my journal, you'd know that I do know that traders lose money.

quote:
I lose money, all commodity guru's lose money, everyone that has ever traded the Markets lose money.

Risk Management. I have mentioned it many times. That's the plan and part of my planned ideal mindset.

quote:
So what make's a successful trader you may ask? You must have a good plan that works for you. You must have a certain mindset before you call your broker and everyday after that you are in the market.You must keep your emotions in check, and you must have more winning trade's than losing trade's. I'm sure other trader's can add to the list but that will do for now.

I don't ask that, I already know it. That's the whole point of my journal, and you should have noticed it if you would have read it closer.

Well, your post is rather long and I'm not in the mood to respond to each comment. I could gather that you didn't read the whole journal and thus you're worrying in vain. Since you seem to have such negativity in yourself, I wonder what kind of mental and emotional preparation if any you got before trading the markets. Obviously, you don't have a positive expectation even now and that could end up in a dead end circle of negative self-fulfilling prophesies. I'm sorry if you're not that way, but that's my impression.

Before commenting again on any of this, I suggest that you go back and read my entire journal. You'll get a better picture of the situation and my efforts to get an ideal mindset in order to trade the markets. Then you might be in a better position to counsel me.






#7214 01/29/04 04:12 PM
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It was not meant to be negative, it was information that you won't get from anyone else trying to make money by selling a commodity course.These people try to make it sound like its so easy. Its not.
Also this is a open forum and there was talk about others interested in trading.
Years ago when I got started trading I first invested in a commodity course and found out that I still wasn't prepared. At the end of the first year of trading I had invested in several other course's,but still a lot of what I learned came from the actual trading. Paper trading didn't prepare me for the real thing. Anyway I'm not here to defend myself. I know who I am where I've been and where I'm going. One more thing, I make a living trading the markets.
I wish you all the best that life has to offer, because I care

Dennis






#7215 01/29/04 08:46 PM
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OK, I apologize. I do know that trading commodities is not easy. The course I'm taking, tells that everyone lose money on the markets, that there are just too much variables in work for prices fluctuations, that it is impossible to predict exactly the direction the market will go. It says that we have to do the market without emotion, when emotion gets into play, there is more possibilities of failing. It also says that we have to do the markets for one purpose only, and it is to make money, not for the excitement nor anything else. It insists on risk management; cut your loses and let your winning choices fly. I don't know what courses you refer to, but the one I'm taking feels almost overwhelming on those warnings many times, so I don't believe it is what you described. I do know that the propaganda they sent to me said it was very easy, but the very course told otherwise. Also, I'm cautious on this, that's why I decided to do paper trades for a whole year, learn photoreading, image streamming, and get confidence for doing trades with the right attitude. I'm not stepping forward wildly or blindly, I do know there are risks and that I have to learn before doing trades. But everyone have to learn before doing it, so I found improper to just sound the alarm at the very first sign of possible trouble. Again, sorry for misinterpreting you.






#7216 01/29/04 09:17 PM
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Hey do you guys know any paper trading sites where you can put a stop loss, and it will automatically sell? Also I cant find a good site to paper trade options. Any advice on a good site that is a good simulation of what you can really do would be great thanks.

-Benny






#7217 01/30/04 12:15 AM
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Ok it sounds like you have a handle on it.I just don't want to see you get hurt without throwing some caution your way. After all I've been there, done that.

Because I care

Dennis






#7218 01/30/04 12:20 AM
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Hi Benny, No I do not know of any sites like that. When I first started I had to pay for everything, including paper trading. We are talking about over four years ago. I didn't even know that a site like that existed.

Dennis






#7219 01/30/04 12:37 PM
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quote:
I just don't want to see you get hurt without throwing some caution your way. After all I've been there, done that.

Thank you for your caution throwing. You know, I found it unusual to find a guy in this forum who may try to scare me. I indeed got anxious about your warnings, but you have to understand the nature of the Ideal Mindset course and the stage in which I am in it to fully understand my resistance to your warnings. The course is designed to work with the unconscious mind using paraliminal technology. It features six of the individual paraliminals that are sold separately; New History Generator side A, Prosperity, Anxiety Free sides A and B, and Belief sides A and B; a total of six paraliminal sessions. I have taken the first one (New History Generator side A) to rewrite my past emotional history, and the second one (Prosperity) to open an energy channel in the direction of my goals. I'm stuck there, but now the direction of my thoughts go towards my goal of financial freedom by means of trading futures. Thus any attempt, intentional or unintentional, of scaring me away is just futile; this could just delay me further, but eventually I'll continue toward my goal because the way of least resistance for me is now in that direction. The reason I think I have much anxiety now is too complicated to explain here. I'd need to explain to you how anxiety is generated as of the Ideal Mindset course in order for you to understand why I think I got so much anxiety after the Prosperity sessions. Thus, your warnings added fuel to the fire, more anxiety over the one that was already there. So the way of dealing with your warnings was for me to release all the negative feedback that they could have and continue. Facing the futures market is for me a matter of time now, not a matter of if I could do it; it's "when" instead of "should I?"






#7220 01/30/04 01:02 PM
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One more thing dolson1018 about borrowing money. That was something that I included in my NHG sessions as a possibility, but I didn't included it in the Prosperity sessions because I abandoned the idea before doing them. I really don't need to request a loan in order to open a trade account. Also, someone already gave me that same advise of yours, you may find it in my journal, it was very simple, it said:

quote:
(BTW...loan for trading account = bad idea)

by a user nicknamed dbswinford. So that idea is not part of my platform for financial success now.






#7221 01/30/04 03:56 PM
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Betsemes,
I have never been to a forum like this before. I have never even entered a chat room. I should of been a little more sensitive with my message to you.That message should of been directed to a trading forum which I hang out most of the time.
It's very hard for me to really express myself using a keyboard. I looked at my message being positive, and you looked at it from a negitave stand point.
Looking back at what I wrote and knowing what I know now, I should of taken my own advice and passed on my so called experience. I'm not back pedaling here, my intentions were pure.

Because of care

Dennis






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