Goals

Pradeep has a good post about trading goals. He's right. I've spent time finding the "perfect way to trade" and never have. During that time, I've passed up opportunities to make a lot of money. There have been times when I talked myself out of some trading rules because I thought, "This can't possibly work. It's too easy. If it worked everybody would be doing it."

I've shown my Dad the way I trade and the returns I've made. He's not interested and skeptical. He always asks, "If it's as easy and lucrative as you say it is, why isn't everybody doing it?" I think the answer to his question is that it's NOT easy. Until you've been doing it a while, it is incredibly hard to handle the ebb and flow of the market. Every loss punches you in the gut. You feel like you are being irresponsible--like you don't know what you are doing--like you're gambling away your hard-earned money.

There are ways for individual traders to take advantage of the market. If you find something that works (and anything that beats the market works) then stick with it. Don't chase after the newest idea, newsletter, hot stock or whatever. Have confidence in your system and make some money.