Betsemes, I started thinking about what to tell you about commodity trading and the mindset I use, and I had another thought. Because you are not going to trade for a year or so, and that you are new to the commodity trading world I'm going to keep this short. As everything else new you will get loss if I try to explain why I trade the way I do and what I am thinking at the time. There are many ways to trade and I don't know what's in your course.
I trade for one thing and that is to make money. period. Beleive it or not some trade for the excitement. Some gamble.
I am a swing trader so I trade more than others that trade patterns,etc. so I get some intense feeling some times.
One of the good things about trading is you don't have to make a split decison to trade now. From one day to the next you have about 20 hours to figure out if you are going to trade the next day or not. And If you are in the market or if you are going to get out.
The bad thing is the extra hours that you have allows that inner voice to challenge your decision and give you doubt.
You must have confident that what you are going to do is right. You do this by taking your course and trading By the book. Your inner voice ( remember your neighbor ) thinks it knows better and will at times try to convince you to take a chance and gamble your money away. ( Either I'm the Captain or the Mate.) With experience you will have more freedom to move away at times from the course book.
I will lose money at times but I will not over trade to try and get my losses back.
If a trade (setup) doesn't look right for me I will sit on the sideline knowing there will be other days.
Procrastination:I'm alway asking myself why??? if something isn't working out.
Why am I not able to finish, fill in the blank.
You get this sales letter telling you why you need their product, it all sounds good, you say to yourself, I need this product it will make me a better person, make me rich, I will have more friends, etc.
You send for the I got to have this product course and you wait for the mailman or ups to deliver it to your address. Now what just happen. How hard was it to read the sales letter, Make a decision to send for it, get on line and order it with your credit card or mail it in. There was no effort involved, you didn't have to focus on anything, study any material, all you had to do is wait.
The package comes, you can hardly wait to open it and start putting what you will learn to use. Now somewhere between the opening of the package and the last time you looked at the material something took place, and it don't look good.
This does not apply to everyone, only the
Procrastinaters. Now the hard part. Just like a lot of other things in life you head down the path of least resistance. It is easier to think about doing something than it is to do it.
I think before you( and I don't mean You )decide to start any course you need to really prepare yourself.
The first thing would be to be at peace with yourself.
Have a purpose, what is the end game.
Set Goals but make sure you can reach them.
If you don't see any results soon you may give up soon. Success breeds success, accomlishment breeds more of the same.
Make sure you will reach your goals. i.e.,I will read one chapter or listen to one tape a week, a day and do the assignment. At lease the course isn't sitting on the shelf. I will bet that some of the course's will tell you and me how to do it better than I can.
On the Photoreading course that I just received on the second tape it has a good explaination on how to prepare yourself. I didn't hear it all because the tape is bad and I have to send it back.
Remember the voice.
I think its time to put this subject to bed.
Take what you will, do with it what you want,and remember your not alone.
Dennis
