Trading on Target: How to Cultivate a Winner's State of Mind

YOU REALLY DO NOT WANT TO DO THE WORK

Not having money is a good reason for you not to start taking any action on accumulating the knowledge and doing the necessary planning to become an accomplished trader. Let’s face it: One of the only reasons that you want to trade is that it looks like an easy way to earn a huge amount of money with very little effort. At least that is what is beneath the surface of your thinking. What you really want is someone to give you the trades to take because studying the fundamental and technical side of trading is quite boring and/or tedious to you, and besides you do not understand it.

You are the kind of person that would be attracted to a software program where you do not have to know anything except to push a button when certain colored lines cross. Just as an aside, those who have tested out these types of programs have found that a coin toss works just as well. You perhaps have thought, “If only someone would hire me and train me. After all, is it not discrimination for institutions to only consider hiring those who have college degrees from Ivy League schools for those kind of positions?”

One such trader was John who worked as a router for a trucking company for 20 years. His wife handled the family accounting, which in her case meant that the family did not have any savings. When the company John worked for started downsizing, the family went into a panic. John considered what else he could do to support his family. His thoughts were directed ...