After completing his round in an important tournament, it is very common to see Tiger Woods head to the practice tee.
Most of the other players head off to a relaxing dinner.
Not Tiger, he is not done for the day. He chooses to practice.
Hitting balls from the practice tee is not exactly the same as hitting a shot in front of the gallery with a tournament on the line. But, it is the best way for Tiger to improve his skills and test slight variations in his technique.
Without practicing, how could Tiger expect to get better?
If the greatest golfer in the world practices so diligently, why are so many traders unwilling to use the trading simulator for the same purpose?
- The trading simulator does not provide a perfect parallel to the live market.
- Hitting golf balls from the practice tee does not perfectly parallel tournament golf.
However, this does not stop Tiger Woods from using practice to his greatest advantage.
The most common argument against using the simulator for traders is that the simulator does not allow traders to face the emotional aspect of trading. Many traders are fearless on the simulator and fearful when trading live.
The fundamental skills I teach on the simulator in my Electronic Trader Mentoring Program translate into a strong and resilient foundation. A trader’s emotions are less likely to sabotage his trading when he is confident in the effectiveness of his strategy. This confidence gained on the simulator will help the trader overcome fear in the live market.
When traders use the simulator as I teach, they become committed to their trading plan and expert in identifying and, then, executing their planned trades.
Further, I believe the live market is designed for you to make money. It is not meant for you to practice losing your money. Common sense should tell you that using the live market to practice when it results in your losing money is madness.
The money saved by developing your trading skills on the simulator will more than pay for a Mentor.
Tiger Woods isn’t the only example. Some of the toughest soldiers in the world, Navy SEALS spend the majority of their training for a mission in simulated combat.
Unleash the Warrior Within, an excellent book written by Richard Machowicz, a former Navy SEAL, describes the elaborate simulated training done by SEALS to get ready for a mission.
Of course, the enemy in their simulation is not really trying to kill the SEALS, but through diligent, realistic practice the SEALS become confident in their ability to execute their plan.
When a real enemy is shooting at them, the SEALS are so well-prepared that they know what to do and when to do it – all because of their intense training in simulation.
“Perfect performances can’t exist without perfect practice” says Machowicz.
If you want to become a successful trader, you need to utilize every tool at your disposal.
The trading simulator, used correctly, can be an important tool in your path to success in trading.
After all, if you want to become the Tiger Woods of trading, you first have to become the Tiger Woods of practice.
I will show you how to use the trading simulator to perfect your trading skills in my Electronic Trader Mentoring Program.
Contact me to find out how I can help you find the shortest distance between your desire for success and the reality of it. You can get the benefit of my 37 years in the futures trading business without taking 37 years to get it.
Wishing you success in your trading, Jeff
Copyright © 2009 by Jeff Quinto
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