Q: A few months ago I ordered your Peak Performance Course and am working my way through it. In Book 1, you talk about commitment and how important it is, so I am taking it seriously. The text seems to imply that to be a successful trader, one has to commit to doing it full time. Am I reading it correctly? If that is the case, then I may as well stop here as I do not want to be glued to a computer screen all day. I think I can be a good trader, but not full time. My concept is (or was?) to be able to generate an income while freeing up time for other things (after learning the ropes). Is this an unrealistic expectation?
In any case I do need to learn how to manage my savings, so I might as well learn to do it right. — Ritvars
A: No, you don’t have to be glued to a screen all day in order to be committed to successful trading. Fully committed, however, does mean you have to do the preparation work (i.e., getting the necessary education and developing the required skills) before you trade.
Preparation includes understanding who you are, developing systems that fit you, understanding how position sizing is the key to meeting your objectives, writing a solid business plan, and following through with ongoing self-work.
The attendees at my Blueprint course this week are looking at each of these areas in depth and heading home with a plan to prepare them for trading. This preparation work could take as much as two years of full time work if you were starting from scratch. You can also choose to do the preparation work part time.
Either way, compare this level of preparation with the much more stringent and lengthy education required by most professional fields. Actually doing the prep work to become a consistently profitable trader and then doing the ongoing work to stay there is what I mean by commitment. – Van
