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All too often people starting out in a new endeavor have an urge to run before they can walk. Typically their ego is in the driver s seat and wants the satisfaction of immediate action. However, it is a realistic question to ask: How long before a level of competency is established? Unfortunately, the answer can only be somewhat vague, since it really depends on how committed the individual is. This level of commitment will dictate how much energy is placed into mastering the required skills. |
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In order to become an outstanding trader, you will need a large number of references, a valid belief structure, and the ability to ''internalize" your new skills, perceptions, and beliefs. The more references you experience, the more refined your distinctions can be. The references can come from other individuals. |
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There are several seminars that I highly recommend. My favorite is "Date with Destiny," offered by Anthony Robbins. "Date with Destiny" is intended to help you clarify your goals, beliefs, values, and rules. Although it is not specifically designed for traders, I know many who have attended with great benefit. Another good resource is Dr. Richard McCall, a practicing psychologist who is also a shishan of the Bushinkai Dojo, where he teaches the traditional martial disciplines and the philosophies of the Japanese samurai, including Budo-Zen. Dr. McCall offers several retreats that also work with the mental beliefs a trader must have. Since these seminars are geared toward traders, the information is invaluable. Finally, there are a variety of technical analysis seminars available. My favorite is the TAG conference held in Las Vegas, usually in October or November. |
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Books and audiotapes are also a valuable way to obtain more distinctions. A new and useful source of information are the various e-mail lists that you can subscribe to. For example, since I use Omega Trade Station (version 4), I subscribe to the Omega e-mail list. While the vast majority of the information on the list is geared to technical problems that users are experiencing, occasionally there will be a posting (1 in 300) that is informative. The main thing to keep in the back of your mind is that the traders who produce consistent profits are too busy trading to send e-mail, while the novices have a lot of time to post comments. The best posts seem to occur over the weekends, which is not surprising. A sampling of all these resources is presented in Appendix B. |
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The most valuable references that you can obtain are quite naturally those that you actually experience. Every time you encounter a new event, your mind is using it to either create a new belief or reinforce an old belief. By applying the techniques in this book, you will be able to challenge your |
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