Wednesday, March 23, 2011

Pit Traders who Can't.... What letter describes you?

Traders who are having a difficult time making the transition from the trading floor to the trading screen, 99%, are unwilling to take the time to re educate themselves.

The aforementioned floor traders who are not making the transition from floor trading to the screen trading successfully fit in one of the following categories:

A. Too Tired from their Pit Trading Career
B. Too Lazy
C. Self imposed Uneducable
D. Stuck
E. Too arrogant
F. Lack Confidence
G. Unwilling to sit alone in a room by themselves with a computer
H. Don't want to pay for education
I. Monetarily Broke
J. Embarrassed to ask someone to teach them to trade on a computer
K. Too embarrassed to find out a legitimate educational program or mentor
L. Want to explore another career outside trading
M. Unwilling to recognize Screen Trading is a different Career path
N. Unwilling to recognize it takes time to adjust to the nuances of a new career
O. Afraid to trade a commodity they haven’t traded (necessary in re training)
P. Unrealistic expectations to move to the Trading Screen and make money day #1
Q. Impatience in learning a new career
R. Afraid to try Screen Trading because all their friends have failed for REASONS ABOVE
S. Some do not know how to use a computer
T. Can’t Screen Trade alone, need a friend to do it with them
U. Personal Overhead too high thus preventing the trader from changing to the screen
V. New Screen Traders should start with a one lot and the philosophy is beneath some
W. Trading all day may be unnecessary
X. An excessive loss on the screen is rarely recoverable in one day
Y. “Scalping” is virtually impossible with normal connectivity
Z. It is too easy “ to click” to put on a trade without a reason

Want to learn from a professional trader and an outstanding educator? Go to www.rdstrader.com
Upon learning to trade, clear your trades at the University of Trading/Dowd Wescott/MF Global.
Call Dr. Mickey Hoffman 312-909-1301