Like most traders, I started out thinking that making money in Futures and Commodities was all about crop numbers, weather patterns, and other fundamental data. The subject of Technical Analysis was new to me. Because of my background in computers, I was naturally drawn to Technical Analysis.
From my transition from Fundamental to Technical Analysis, I suffered like most new traders did in actual trading. My early failures and occasional successes became the most important teachers I had at the time. With each failure I learned what did not work and with each success what might work. What I did not do was to allow myself to quit just because of all the setbacks I experienced. Instead of getting upset at myself or others, the desire to master market timing and to get control of my emotions burned hot inside me to push on with an open mind and tireless drive.
What I discovered first is that success was not meant to be easy. It only came to those that believed it was possible to achieve and who did not quit in trying to achieve it. My desire was to become extremely good at market timing and to find for myself the best ways of achieving this. Once a person is able to do this, half the battle then has been won. The other half, which is much more difficult to achieve although not impossible, is mastery over the emotions involved with trading.
As an emotional being, this aspect of trading continues to interfere in many of my personal trades in spite of excellent timing. There are many, many times I had forecasted a major new market trend in advance only to capture a very small percentage of the overall move. While my analysis was spot on, and there are some gains to this, much is left on the table due to the emotions getting in the way. If you are new to this idea of emotions being a part of trading, just think of FEAR and GREED and perhaps you will go "a-ha".
When an inexperienced trader, or one with lots of experience (but in losing) says they are looking to win trades without a whole lot of effort, it becomes apparent to me that they are likely doomed to fail in the end. Just think about this for a second: When you think of the word "Technical", does that conjure up in your mind "easy"? When someone thinks an explanation is a bit over their head, you'll often hear them say "can you be less technical in your explanation?" Less technical or not technical at all must equate to EASY then. Therefore, you have a choice to make.
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