Â Â Â Â I am â€“ and always have been â€“ a lone wolf trader.Â By nature, I am a recluse, and I have never sought the advice of television financial networks, chat rooms, or even the barber down the street. Â My charts always have been there to give me all the information necessary for making proper trading decisions. Â My â€œlone wolf pathâ€ to becoming a full time trader worked, but in retrospect, there was a much easier and more rewarding path around a corner that I never visited.Â That path was located at the street corner of â€œAccountabilityâ€ and â€œFriendshipâ€. Letâ€™s step onto this path for a moment and look at some of the advantages of building your trading education with some of the friends you will meet along the way. Â Watch your step; here we go.
Â Â Â Â You see, things might have worked differently for me, but when I committed to becoming a full time trader, there were no other friends or associates that shared my financial pursuit. Â Â Quite frankly, if anyone dared broach the subject, it was usually with enthusiasm â€“ not. â€œItâ€™s too hard to learn, itâ€™s too risky, people always lose money, and you will probably lose your shirt,â€ they would say. Â Then, they would go merrily back to their nine-to-five jobs, content to live with their fixed-income way of life. Fortunately for me, before I could become entirely overwhelmed from all the advice, I found a mentor â€“ arguably the finest of trading mentors; coupled with a solid trading program, I solidified my dream and found success.Â Â My mentor could stand in the gap, could hold me accountable, could make instant teaching corrections when I veered from the knowledge base, and could be there as a friend, an encourager, and a confidant. My advice to any beginning trader â€“ or to one honing skills that have become dusty over the years â€“ is to find a friend that shares your trading goals and ambitions. Make a pact to hold one another accountable until you both become professional traders. Become cheerleaders for each other. The two of you (or more if you should be so fortunate) can take turns visiting each otherâ€™s trading rooms, writing via e-mail, talking over Skype or local phone services, meeting in the local library twice a week, or setting up scheduled live chats over the internet. Â Whatever or however you decide, accountability is your purpose, and profitable trading consistency will be the end product. You will settle for nothing less!
Â Â Â Â Watch how fast the barriers to becoming successful will be broken down. Your focus will be sharper, your motivation will be stronger, you will have a support system in place, the whole plan will be laid out before your eyes, and â€“ the most important â€“ no longer will you be on your journey alone.
Â Â Â Â So, from the â€œlone wolfâ€ to the newly formed Wolf Pack, enjoy! Itâ€™s going to be a lot of fun.
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