Learn to trade successfully in 3 weeks!

Discussion in 'Psychology' started by Spectra, May 4, 2007.

  1. Evening,

    I'm always getting message from newbies who've found someone or something to help you learn to trade in a few weeks! Lets think about that for just a few seconds.

    Lets look at some very intelligent, determined people and see how long it took them to become profitable:

    Linda Raschke - 3 years
    John Carter - 4 years
    Mark Fisher - 3 years
    Hubert Senters - 2 years sitting by the side of an experienced trader before trading

    Hubert did it the smart way, he didn't he even put in a trade for a year. We have people join our site and ask me if they will be making steady income in a month. No one wants to hear the truth:

    Oh yes, I get it. It takes 11 years to become a doctor. OK it takes 4 years
    of College ball before you even become a rookie in the NFL. Marcel Link took
    7 years before he became profitable, I get it.

    OK, I followed Alex's calls for a week, how come I am not on the cover
    of Super Trader magazine? I am started to get annoyed, Dr. Smithers, I read
    the section on scalpels, but damn it, I have been a whole week here at
    Harvard and where is the flipping brain surgery patient? OK Mr. Jones, I
    have installed Microsoft Flight Simulator, I read the chapter on the
    Bournouli principle and the power and speed relationships, so how come you
    guys here at Delta won't let me fly that 757 to Houston?

    Sorry, experience only comes with time!!!!!!!!!!!!!!!!!

    We'll help you minimize that time, but not by leaps and bounds.

    6 months to 2 years should be the minimum amount of time you commit to this endeavor. If you can not do that, please save of your money.

    End of rant for the evening :)

    Alex L. Wasilewski
    Co-Founder & Head Trader
    Trades That Work
    1-877-GOLONG1 (1-877-465-6641)
  2. A worthwhile rant.

    And most should expect to be at the 2 year end not the 6 month version. In the mean time you will provide liquidity and profit for traders who have put the time in and mastered themselves.

    Get a Plan - the Song
  3. bootize


    Interesting stat. It also took me about 3 years.

    Very true.
  4. I could be mistaken, but I remember Hubert telling me a while back it took him longer than 2 years to become profitable.

    He mentioned, in his words, that the beginning years of his trading were characterized as throwing good money away steadily, while "not even turning a dime in profit".

    John Carter for sure is one persistent guy. He told me he blew out his trading account numerous times in his earlier years. He'd get to $100k in equity, then get greedy, thinking he could turn a million in a home run trade. That home run trade would be the mother of all moves that went against him, and bam! all the equity gone in an instant. He mentioned that it took a good 6 years to rebuild his mental framework from the ground up to handle the successes and failures that come from trading. He has a number of very interesting stories concerning blowouts (entertaining as well), but I'm not sure if he would appreciate me telling them so I won't get into them.

    Almost no one coming in to derivatives trading has the proper mental build from the start. THAT is the thing that is required for sustainable profits, and THAT is the thing that takes a good while to develop. A lot of traders think successful guys in this business hung in there and eventually found the grail or some neat "edge" or technique that lets them pull endless money from the market. It's not about that at all, I think. Reaching success in Chicago's playground is about getting the right mental build, the discipline that goes along with it, and a hardened set of trading rules you feel absolutely comfortable with through the thick and thin times.

  5. TraDaToR


    I have a different record.

    When I started trading, I've made 2 years of important profit by pure luck in long term investment( 50 % and 30 % approx ),I didn't even know what a stop loss was, the market was just on my side ).

    Then I became more interested in trading, I made a really bad year( - 40 % ) trying to day trade french stocks.

    Then I started to day trade US futures intelligently( with backtests... ) and made 30 % for my first year and breakeven ( -5 % after a large DD )for my second. In 2006, I was up moderately( 15 % )

    I'm currently enjoying my best year so far in 2007( + 40 % since january ). My account is not big.
  6. kiwi_trader:
    Thanks immensely for the link!!!!!!!!!!!!!
    Found a treasure of classic guitar...
    I can not believe it.
  7. 3 years, assumming you bust your hump and are able to interact with other experienced traders ... otherwise, shrug, I don't know.

  8. I'd have to fully agree with Alex.
    Although it took me a bit longer. I must of been on the handi capped bus.


  9. I would have to disagree with that. IF a trader has the right person teaching him and the willingness to learn then there is no reason one cannot learn to be profitable in a short period of time. For instance, Richard Dennis grew traders like they grew turtles in Singapore. The training was 2 weeks in length and focused primarily on trading psychology which in my mind is the Holy Grail. At the end of a month most of the traders were profitable. So there is proof that traders can learn in a short period of time with the correct teacher and an open mind.
    I do however agree that if one is to learn on his own then 3 years would probably be a good amount of time for one to become consistently profitable. My experience was losing consistently until I found a professional trader to teach me trading psychology and how the mind works.
  10. Wow. Had not heard of his teachings. Two weeks? Two months would be fine with me :)

    #10     May 6, 2007