Â Â Â Â No, we wonâ€™t have to put on our Harrison Ford â€œRaiders of the Lost Arkâ€ fedora hats here; however, we are going to discuss the fact that traders often invest years and spend thousands of dollars searching for the elusive â€œHoly Grailâ€ of trading systems, only to reach one disappointing dead end after another.
Â Â Â Â As a neophyte trader, I would read trading magazines from cover to cover. My problem was that my focus was never on the articles, but it was always on the advertising.Â Â I wanted to believe that there was a shortcut around education â€“ a Holy Grail trading system if you will â€“ one that was easy-to-use and had effortless money ready to be made. Â WOW, pattern recognition software; thatâ€™s surely the answer. No wait, how about this program on neuro nets; I really need that. Better yet, I will buy them both, and I probably should add in this automated artificial intelligence package. Â Well, if your searching was successful, I am pleased. Â If youâ€™re one of the myriad of traders still in pursuit of the Holy Grail â€“ finding yourself identifying with where I was â€“ still struggling, still reaching blind turns and dead ends, I have a piece of advice from past experiences. Â Sadly, I have some bad news for you: there is no Holy Grail to trading, and more importantly, you can waste your trading life in pursuit of such a treasure.
Â Â Â Â Many traders beginning their trading journey will choose to circumvent education in lieu of what they believe will be quick and easy money. They reason that learning and equipping isnâ€™t necessary because out there in the large trading universe is some sort of secret indicator, some bell-ringing software, some perfect vehicle that will dictate trades and allow them to reap huge profits. Unfortunately, they search in vain because this is not how successful trading works.Â In reality, skipping the educational road takes you down a money-spending path that leads away from discretion, from discipline, and from becoming the professional trader that invested a little time and effort to reap trading consistency and profitability.
Â Â Â Â So remember, there are no shortcuts to becoming a successful trader. If you think your search is turning up holy-grails too good to be true, then they probably are. Â Exchange â€œquick and easyâ€ for â€œsolid and firm.â€Â Find a mentor, learn a trading program, and soon â€“ through all market conditions, through all changing economic conditions, throughout your lifetime of trading â€“ you can reflect back on the benefits of your trading education and be thankful that you invested a little time and effortÂ in your future. I did it, and so can you.
Todd Mitchell is the CEO & Founder of Trading Concepts, Inc. He's been trading since 1994 and has mentored over 12,000 traders from Wall Street to Main Street. He's an expert at developing strategies for creating more consistent daily, weekly and monthly income.
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