Chapter 5
On the Right Track
Why do so many of the people who want to become professional traders find themselves on the wrong track to their destinations? Instead of reaching trading success, they waste their precious time, energy, and money in a long, futile, and tedious journey that leads to a dead end. Here are five major reasons why Trading Hopefuls take the wrong track:
1. They are trying to save time and money by taking shortcuts to success.
2. They want to copy or borrow what they think is the holy grail by using or purchasing someone else’s system or method without making it their own.
3. They adopt a trading style that makes money for someone else, but not them because they do not have the same resources.
4. They are “into-wishing” and hoping that they are the exception to the rules of trading and want to change the rules as they are trading.
5. They put their faith in a “trading guru” who promises to turn them into a trader when this trading guru cannot make a living from trading for himself and that is why he is teaching.
As we take a closer look at these wrong tracks to success, ask yourself if you have taken the wrong direction at some point in your trading.
