Hello Traders! In every Online Trading Academy class that I teach there is a diverse mix of students – usually a couple of people retaking the class a second time, a few new students who have never placed a trade before, and a few who have been trading but are not happy with their performance in the markets. Between the second two groups of students, the ones who have never traded before are very often the most successful at the end of our week-long classes. How could that be? Shouldn’t someone who has been trading for months or years be able to out-trade someone who is brand new to this endeavor? Often times, no. Usually an experienced trader has a lot of excess “baggage” that must be dumped before they can truly begin to excel at trading, while a new trader listens and accepts what they are hearing.
Think about it – if you were to learn how to play golf and went to a professional instructor, having never even seen a golf swing or swung a club would be ideal! Accepting the instructor’s recommendations of a particular type of grip, stance, club selection, etc. would be much easier if you hadn’t been playing (poorly) for years. “That’s not the way Tiger does it” would never be a reason to not do what your instructor recommended. The same idea applies to trading. Frequently an experienced yet not profitable trader will be in class and say something like “That’s not what I read… Continue Reading
