Sunday, July 19, 2009
What kind of fish are you
It was humbling to learn about accounts of some readers. And, i am quite surprised by the perception of some new traders of what trading really is. Whether stock, futures or forex, I think majority of traders starting out in the field start out wrong. Perhaps thanks to a lot of marketing and sales by gurus selling chatrooms and training and seminars. Some of these gurus have a seminar announcement/sales everyday. I think it is most important to figure out first what kind of fish we are. The most common new trader is out in the high seas with sophisticated software in a 15 foot boat competing with the commercial trawlers. I think just setting this perspective is extremely helpful in the decision whether to set sail on any morning. But does anyone actually teach this? I think the answer is no.