When I started writing this column, I had no expectations of a particular outcome, as I had no understanding of the folks who would read and respond to the column. Over time, that has changed, as I have found those who ask the most questions are those who want to start trading and have no idea how to go about it, or who have been trading and have not done well. Given that, I now have an expectation of a particular outcome for this column – readers will heed my call to educate themselves and then take action to actualize what they learn. The comment below demonstrates a bit of success toward achieving my desired outcome.    

Hello Ed,

I just finished reading Mark Douglas’ book Trading in the Zone after you mentioned it in an article. I stopped trading immediately, started developing a business plan, and began checking any “urges to dabble.”  When my trading mentality has matured sufficiently through the methods recommended, and the wisdom from this site sinks in, I will begin trading on much better footing

I hope this trader keeps us posted on his efforts to “retrain” his mental and emotional trading framework, as I now have an expectation of a second desired outcome – those who are receiving benefit from this column will make the effort (as the above reader has) to share their specific educational movement with all of us. You see, what others are doing to achieve their transformation from a trader-to-be, or an unsuccessful trader, is a higher level than me telling you “things” about the world of trading. Sharing with all of us the efforts made goes a long, long way to both bettering your trading skills, as you describe your efforts, and helping others take the first steps toward becoming better traders.

As the reader above learned, after taking my advice to read Douglas’ book, success in trading (and in life) is about skill, timing, and effort, true, but, and as well, it is about your mental and emotional mindset. A big part of transforming one’s mindset is confidence and belief. Aside from actual success, few things inspire confidence and belief like reading about what others are doing to achieve their success.  

So, my new campaign is to inspire any or all of you to let us all know about what you are doing to make the transformation from a trader-to-be or an unsuccessful trader. As always, I prefer that you post your comments live on the Trader Ed blog, but if you are more comfortable writing to me, I will post your comments as I did today.

Trade in the day; invest in your life …

Trader Ed