University of Trading

A Screen Trader is likened to a Quarterback in Football!

2011-06-14T10:04:00.000-07:00

The Screen Trader is a Quarterback

In many ways, trading mirrors many sports.

For example, a trader trading for his/her own account is like a quarterback in football....

So, if you are a trader, why not encompass the thinking of a quarterback?

"Bad things happen when the quarterback holds on to the ball"

Likened to a trade that goes against a trader; the trader must have the fortitude: 1. to exit the trade; 2. to temporarily drop the experience from one's mind (short memory) and, to go on to the next trade.

Mkh

An Important message for Screen traders'!

2011-06-05T03:50:00.000-07:00

An important email for screen traders',

Without question, you are one of the few in the entire floor trading business with the stick-to-it-ness & the discipline/self control who can continue their career “off the floor”.

Let me warn you, however, that it is much easier to get in trouble when trading off the floor:
1. to be over confident on the following day after a winning day
2. to reach or come close to your daily monetary goal and continue to trade because you
feel it
3. to continue to lose money after reaching your downside loss limit
4. to trade when you should not trade because you have a good work ethic, but are over-
tired or have negative thoughts
BEWARE & BE AWARE OF THE SUB CONSCIOUS PREOCCUPATION WITH PERSONAL PROBLEMS OUTSIDE OF
TRADING
5. and finally it is much easier to fall into or slip into the Chain of Disaster
(Chain of Self Destruction ) because of the ease to click as opposed to getting a
brokers’ attention on the floor

NOTE: The Chain of Destruction: Impatience; Irritation; Anger: Self Destruction (IIASD)
(the loss of a lot of money that ends your trading career)

At any rate, you do have the “Right Stuff” to have a life time career in trading, if you pick your spots and remember to pay attention to the problems in computer trading above.

New Traders Are Always Interested, Asking When To Abandon A Trade?

2011-04-09T08:59:00.000-07:00

A SIMPLE SYSTEM FOR OFF-SETING YOUR TRADE:

NOTE: When you are calm you will Hear the Whisper of your Inner Voice; And, you will
Feel & Sense the discomfort within your body; Do not be afraid to act!

5 Star ***** Trade - No Problem ( Watch the trade come close to or reach your out number )

4 Star **** Trade - Unsure ( Get out of 25% of the Trade )

3 Star *** Trade - Nervous ( Get out of 50% of the Trade ) ( #1 lot traders get out here )

2 Star ** Trade - Scared ( Get out of 75% of the Trade )

1 Star * Trade - Sick ( Get out of 100% of the Trade Now )

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

2011-03-23T17:29:00.000-07:00

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

10 Trading Rules For the University of Trading Traders

2011-03-21T12:10:00.001-07:00

Follow the rules below and you may make some extra cash?

1. Determine a reasonable and attainable amount of money to make each and every day!
2. Determine a fixed and acceptable amount of money to lose each and every day!
3. When either #1 or #2 is reached STOP TRADING for the day ( Yes, stop on the upside too, so you can preserve your energy for the next trading day )
4. You may exceed the upside on a given day without trying by letting the market dictate the profit. If your trade runs let it, but remember to take profit without being greedy

5. Self Control and Discipline mean you may not lose more than YOUR PREDTERMINED LOSS for a trade or a day. Your fixed and acceptable amount is the end of the day; not one penny over the amount ( this means IN ALL CASES you will have to stop prior to the amount so that you don’t override it ).

6. When you have three losing trade in a row call it a day, since it is not particularly your day to trade. For some unknown reason the market is not consistent with your thinking or your thinking is not consistent with the market. Who cares which category the inconsistency fits.

7. You must prepare in your mind for losing trades and losing days. Preparing to handle the inevitable loss of a trade does not mean you are setting yourself up to lose, but simply having a plan on how to act, what to do, where to go, and how to accept the loss as part of the trading EXPERIENCE. LEARNING WHEN AND HOW TO TAKE A LOSS IS THE WHOLE ENCHILADA.

8. Rest and energy are vital to a traders’ arsenal for success. If you lack energy and you are not rested you are not prepared to trade. Playing hard on the weekend or during the trading week will inevitably be your demise. Trade only when you are ready and never, never trade when you lack energy for whatever reason. Recognizing when you should not trade is vital to your success.

9. Having a successful week is the answer to your trading success. If you lose too much in one day you are behind the “8 ball”. Thus, one day must not set the tone for putting yourself in a “GET IT BACK MODE”. Too much energy will have been spent on the excessive losing day to recover in the ensuing days. Moderation in the losing column will enable you to win.

10. Friday is a day you want to play DEFENSE so that you may go into the weekend feeling good about yourself. Insure that on Fridays you are a winner even if you have to stop earlier in the trading day than anticipated.

The Losers Chain of Events!

2011-03-14T07:51:00.000-07:00

The Losers Chain of Events:

Exit a losing trade prior to entering the chain of destruction:
Impatience,
Irritation,
Anger,
and Self destruction!

As my daughter & son in law preach at RDS Trader Trade Strong, Trade Smart while making certain that you can come back the next day to trade again.

Dr. Michael K Hoffman "Mickey".

Advice to a Trader!

2011-02-13T10:57:00.000-08:00

Advice to a Trader!

Focusing, paying attention to your position, and having a predetermined, fixed exit strategy on the right side of the market & the wrong side will enable you to succeed and have many more winning trades.

Note: I am not in favor of using stops since the market is too transparent. I believe a trader should get in and out of the market without a predetermined public announcement.

Your trading objective should be to complete each day and most importantly each week with money in the bank.

Have a daily upside goal where you discontinue trading from $250 to $500; and a downside number that says your day is over from $250 to $500. Upon reaching or coming close to the predetermined dollar amount, you may cease trading. Adhering to the aforementioned program will enable you to experience success more frequently. You do not and must not end the day precisely on the number, for being close is enough i.e. $220 OR $410 - YOUR BODY WILL TELL YOU WHEN IT IS TIME TO STOP.... Make certain that you listen.

Determine as quickly as you can each day whether or not you are in cadence with the market.

On the days, you are out of sync or the market is out of sync with you, which is possible, discontinue trading.

Returning to trade the next day, rested with positive energy means the difference between finishing the week up or down money.

"Fighting the market" and using excessive energy on any given day can and will hurt one's trading on the following day(s). Lethargy and tiredness derails one's ability to think clearly, thus impeding execution

Trading is all about you and managing money. Trading is not all about the strategy used or the commodity traded. Trading is about the trader executing ideas, admitting and exiting trades when the trades are not working.

Adversity

2010-12-05T13:32:00.000-08:00

Traders must realize: We are put on earth to be tested – to be challenged with adversity and to see what we can accomplish. The successful person ( trader) is the one who continually faces the problems and challenges life brings. – and overcomes them all, no matter what the obstacle is. Mkh

WHAT MAKES A CHAMPION (or A SUCCESSFUL TRADER

2010-11-13T02:14:00.000-08:00

WHAT MAKES A CHAMPION (or A SUCCESSFUL TRADER)

The thing that makes a champion is obvious enough:
It isn’t any mystic prestidigitator’s stuff.
It’s nothing more than giving to whatever be the chore,
The power that is in you - and a small scintilla more,
It isn’t any wizardry’, it’s not a magic gift,
It’s merely lifting honestly the load you have to lift;
Or, in the game you’re playing, it is using all your store
Of grit and nerve and energy – and just a trifle more.
The thing that makes a champion is simple, plain and clear:
It’s never being “almost, “just about”, or pretty near”,
It’s summoning the utmost from your spirit’s inner core
And giving every bit of it – and just a little more,
“That little more-how much it is “. As deep and wide and far
As that enormous emptiness from molehill to a star,
The gulf between the earthbound and the eagles as they soar,
The champions are those who give their best – and one iota more.

Father Eumach, Coach
St. Stephans Mission

Losing!

2010-09-09T17:16:00.000-07:00

Losing: On any given day a losing trade must not exceed your best winning trade. If its your first trade of the day use the best trade of the previous day or the best trade of the present week.

Remember not to disappoint yourself: Three losing trades in a row simply means it is time to take a break or stop trading for the day............... It is obvious you are not in sync with the market or perhaps the market is not in sync with you. Dr. Mkh, Life & Trading Coach

From the Pit to the Computer

2010-03-18T16:15:00.000-07:00

From trading on the floor of an exchange in a specific pit, to trading off the floor -1. using a computer to trade from any place in the world that has an internet connection; 2.and, having the ability to trade any and all products simultaneously!

To Chuck, you are absolutely correct, the trading game is different when you are using a computer; in fact, the trading game is completely different. Thus, the game of trading must be re-learned.

Similarly, to the game of BASEBALL:

After years 15 years or so of being a winning Pitcher, a coach asks the same Pitcher to become a Catcher

The game is baseball, RIGHT?
QUESTION: Isn’t the throwing, batting, and catching the same for every position in baseball?
ANSWER: Ya Right!

1. PITCHER – The Pitcher “standing tall” sees & knows every hitter while throwing the baseball to the catcher for 9 innings
2. PIT TRADER – The Pit Trader while standing in a pit trading, sees & knows every broker & sees & knows every trader in the pit. He/she stands in the pit all day – when the store is open the players play all day.
3. CATCHER– The Catcher while crouching, takes into consideration present situations ( hitter, men on base , score, righty or lefty hitter, singles or home run hitter, inning, etc. and calls all the pitches for 9 innings.
4. SCREEN TRADER – The Screen Trader sits at computer while looking at charts and news, He/she selects his/her trades methodically & trades ( he/she may trade for 2-3 hours during a chosen time of day).

Also, more women can be expected to play the game using a computer to trade,
On the floor of the exchanges, men dominate the pits

Immediate Gratification Refuted!

2010-03-02T13:34:00.000-08:00

Immediate Gratification Refuted! It takes time to be good or great at anything.Thus,
it is unrealistic for a new trader to expect immediate success. The Stages of Success for a New Trader is briefly explained by Dr. Hoffman in the following sentences: Stage I involves the neophyte trader experiencing trading by trading with real money**. Stage II involves the neophyte trader accepting losses as part of the trading experience. In Stage II, the new trader learns how accept a loss painlessly . Losses are expected and handled STOICALLY ***. Stage III involves learning to win. No one enters Stage III without mastering Stage II. It is important to recognize that each person progresses in trading at a rate commensurate with his/her own ability. Thus, the time involved in getting to Stage III is different for every individual.It is mandatory that the new trader recognize the importance of taking one’s time while methodically experiencing the experiences in each of the three stages. For a new trader to want to skip a stage is normal. However, skipping a stage is not recommended.

**( In Stage I, the new trader is neither concerned with making or losing money. Learning to trade in Stage I is akin to learning to meet the ball when learning to hit a baseball ).

*** ( Stage II may be likened to learning to ice skate and continually falling on the ice in the beginning ).

**** ( In Stage III mistakes of the past are eliminated and temptations outside of the rules established by the trader are ignored.

Traders who need discipline!

2010-02-27T08:30:00.000-08:00

For Traders who need discipline! Consistency is the key! If you are going to have a "monster day", let the market give it to you. Do not decide that you are going to have a "monster day". Take no big hits......stop trading when you have reached your downside limit (have a reasonable downside limit). Lose only what you can comfortably make back on the following day. To be a winner at the end of a year, follow these rules: Do not press prior to holidays; Do not press prior to birthdays; Do not press prior to vacations; And beware of every Friday. Your job is to be a winner at the end of every week period.Mkh

Four Rules followed by the University of Trading Traders

2010-01-27T16:25:00.000-08:00

Four Rules followed by the University of Trading Traders:

1. Work the plan you prepare. Have a trading plan for the expected and the unexpected;

2. Pay the price to succeed!
To be disciplined is to have rules of trading; To be disciplined is to adhere to your rules of trading; And, to be disciplined is to have strict rules of departure.

3. Always, make your second trade first; know your lean!
( Know where you are getting out of the market before you get in the market. In most cases, your lean will be a losing place in the market, so be prepared )

4. In the beginning, new traders must get out of losing trades and winning trades quickly. ( Upon mastering the aforementioned, begin to slow up the process and practice getting out of the market a touch slower on the winning side of the market )

Some thoughts for new traders!

2010-01-26T18:48:00.000-08:00

Do not get discouraged; work hard;work smart and you will be successful

You must will yourself to learn: 1. something about yourself 2. something about the market and 3. something about trading each and every day that you trade.

If you are in the process of becoming a professional trader, be patient with yourself. Remember that you are just beginning to learn how to trade; learning takes time; So, don't rush it!

Accept losing as part of the game. Realize that the loss happened for a reason; consequently, treat each loss as a learning experience ( this is how the successful traders lose without self destructing.

Eliminating Self Destruction!

2010-01-24T09:13:00.000-08:00

When you have completed a bad trade (violated your limit loss for a day) STOP TRADING.

Do not try to recoup your loss……………………

You broke your rule and your day is done.

Grant yourself a day off for multiples of the loss (i.e. maximum rule loss $200; actual loss $600 equals 3 days off).

A trader needs time to wipe the pain of the bad trade away from his/her memory.

Rule: Do not trade the next day when your limit loss rule is violated.

Defense, discipline and self control wins the day in trading.

In trading, you shouldn’t have to prove to yourself how tough you are by continuing to trade after breaking a rule.

You already proved you weren’t ready to trade on the day of the excessive loss.

The Bad Trade Test!

2010-01-02T11:45:00.000-08:00

In working with traders, I have discovered that traders often get trapped in a bad trades. To exit a bad trade, the trader must have the discipline, the self control, the resilience, and the courage to realize that a trade is not working out. In some instances a trader may hold on to a bad trade for extended period of time, discovering that the trade is getting worse. What if, you the trader had 3 questions to ask yourself to determine whether or not to exit the trade? 1. IS THE TRADE LOSING ME MORE MONEY THAN I WANT THE TRADE TO LOSE? 2. CAN THE TRADE BE REPLACED WITH ANOTHER TRADE, ENTERED AT A BETTER TIME IN A BETTER PLACE? and, 3. WILL I FEEL GOOD WITHOUT THE TRADE? If the trader answers YES to 2 out of the 3 questions ....HE/SHE GETS RID OF THE TRADE.... IMMEDIATELY! For the laser method of getting out of a bad trade,use the University of Trading LIE.I FACTOR TEST( yes, that's right.... stop lying to yourself test. ("L" stands for "LOVE" and "I" stands for "IT" "E" stands for "ELIMINATE" and .."I" stands for "IT" again) Believe me this works! IF YOU DON'T LOVE THE TRADE GET RID OF IT( that's right... purge it, scrap it, junk it, abolish it ). Think about it. The trader in a bad trading position is in the position of being stuck! Why can't you the trader be in a strong position and LET IT GO. The winning trader choses to be in a state of PEACE and a losing trader choses to be in a state of PANIC! Why hold on? It is always better to be in a trusting stage of peace instead of a fearful stage of panic during ones trading day! Remember, staying in bad situations requires much much more energy.

Winning with energy!

2009-12-30T07:03:00.000-08:00

Did you ever read about or hear someone talk about energy (about people or events giving you energy and people or events taking your energy away? Well, energy for a trader is very important. In fact, energy is vital for peak performance. Without energy a trader finds it difficult to feel, to see and to hear the whispers of available information. For a trader to be successful the brain needs to be rested. The brain is like a muscle; to work effectively it must be in a state of relaxation (calm). Thus, for the brain to receive all the significant stimuli, it must be in a tranquil and confident state. If you are a sports fan, think about how and why some performers are better than others at critical times. The “Big Dogs” know how to relax to accomplish the task. My point in sharing this information is to let traders know that when they are without energy, have a cluttered mind, it is very dangerous to trade. When one is without energy, lethargy sets in. Lethargy is represented by the Dark Knight (the ego, the voice of distraction within). The ego’s delight is to get the trader into a state of anger or panic. Thus, the trader is encouraged, baited, tempted, to do something out of the ordinary i.e. to trade a 50 lot when the trader is a 5 lot trader. Without energy, it is impossible to challenge the dark knight of the brain. When lethargy kicks in, the trader losses are inevitable. So, if the trader has had an argument with a spouse, someone cared about is ill in the family, or any adverse event has caused the trader disappointment or stress, the trader must be wary. Remember a trader does not have to work everyday. So, if you, the trader, is not feeling strong, you should not trade. I know, all winning traders enjoy the challenge of the day, so they want to come to work. I know all winning traders enjoy the camaraderie of the environment. And I know, all winning traders just plain enjoy making money, doing what they want to do. Also, I know it is hard not to trade when the market is open for business. However, great trading, good trading revolves around not only knowing the market but knowing oneself. To be a champion trader one must first know oneself. Knowing yourself involves examining your thoughts and examining just how you feel each and every day. How else do you know whether or not you are ready to compete? How do you know how you feel? Ask yourself and listen to the answer……. Some days it pays to stay away from trading. Depending on the extent of the depletion of the trader’s energy, the trader may have to stay away for an extended period of time to regenerate his or her energy. Playing the game, when one should not play, may cause the trader to be seriously injured (lose more money than desired)! Note: When a trader recognizes that his/her fuse is short, it is a good time to take a break. It makes no sense to let the "Dark Knight" (your emotional state) control your decision making. The Dark Knight’s goal is to place you, the trader, in a self destructive mode. Maintaining a high energy level keeps the “Dark Knight” on the side line.

More on Energy!

2009-12-27T08:58:00.000-08:00

Did you ever hear about people or events giving you energy and people or events taking your energy? Well, energy for a trader is very important. Without energy a trader finds it difficult to feel the market, to see what really happening in the market and if you are on the floor trading - to hear the market. For a trader to be successful the brain needs to be rested. The brain is like a muscle, to work effectively and completely, it must be in a state of relaxation (calm). Thus, for the brain to receive all the necessary stimuli it must be in a tranquil, confident state. If your are a sports fan, think about how and why some performers are better than others. My point in sharing this information is to let traders know that when they are without energy it is very dangerous to trade.......Lethargy sets in and waiting in the wings is the dark knight, of your self, preparing to get you to panic or do something out of the ordinary Without energy, losses are inevitable and can be expected. Energy reducing activities expunge energy. So, if you have had an argument with a spouse, someone you care about is ill in the family, etc. or any adverse event has caused you disappointment or stress, BEWARE. Remember as a trader you do not have to work everyday. Conversely, all winning traders enjoy the challenge of the day, enjoy the camaraderie of the environment, and just plain enjoy making money, doing what they want to do. It is hard not to trade when the market is open for business. However, great trading, good trading revolves around not only knowing the market but knowing oneself. To be a champion trader one must first know oneself. Knowing yourself involves examining your thoughts and examining just how you feel each and every day. How else do you know whether or not you are ready to compete. Traders can and want to play every day the market is open. However, some days it just makes sense to stay away from trading. Depending on the traders energy the trader may have to stay away for an extended period to regenerate his or her energy. Playing when one should not play, may cause the trader to be seriously injured! A point to remember is when you discover your fuse is short, it is a good time to take a break. No sense in letting the "Dark Knight" (your emotional state) control your decision making, because placing you in the self destructive mode is his goal.

From the Pit to the Screen!

2009-12-21T17:49:00.000-08:00

I am disturbed that many of the floor traders have had a difficult time trading on the screen. In fact, many traders are considering leaving the business because the transition they say is too difficult. Floor trading was difficult for many when they became traders on the floor. However, most traders have forgotten how much time it took to launch a floor trading career. I don't believe floor traders need to give up their passion or their career. Floor traders need to understand that learning to trade on the screen is like learning to hit a curve ball, if you have been a fast ball hitter. Learning to hit the curve ball takes diligence, time and patience. Gauging the speed of the curve ball and or gauging the distance of the curve all takes time, possibly years. Of course, the experience of failing is painful, but at the end of the day it is worth the effort. In time, with the appropriate execution screen, with the appropriate pricing of the screen, with a trading strategy , and finally trading any other commodity other than the commodity traded for years, for decades on the floor, one can become a successful screen trader. How much time? Each trader is different. Thus, progress will be commensurate with a traders patience, perseverance, and a strong desire to succeed.

How to Win Trading Electronically? Lesson #1

2009-12-20T10:43:00.000-08:00

First, and foremost I believe no matter how much starter money one has to trade, he needs to have an inexpensive experience. I say, inexpensive trading experience for the development of confidence takes time.

Thus, I always recommend traders to trade fx products that have no expenses tied to the execution screen, cost of trades, and charting services.
Furthermore, when trading these products today, it gives an individual a reasonable chance to succeed because of the trending of the currencies and the inexpensive tick value(as low as a $1.00 a tick). If what I just said needs explanation, please call me at Dowd-Wescott 312-604-6061 in Chicago.

No matter, who explains electronic trading to you, the new trader (this includes former floor traders) must realize that to become a successful screen trader will take time. See my stages of trading to understand the value in making trades and the value in experiencing & handling losses. Trading today is not an "immediate gratification" game. To become a big time winner and earner as a trader, one is going to need thick skin, an ability to be resilient, the courage of a lion, and the stick-to-itness of a man on a mission of passion.

Energy

2009-12-17T14:59:00.000-08:00

When competing, one expends a great deal of energy. At the end of any given day a professional independent trader has spent physical, mental and emotional energy. Whether the day's outcome is favorable or unfavorable, energy has been expended. My suggestion to traders, in this day and age with volume low on the floor and with little edge on the screen, is to conserve energy. Have an upside $$ amount that is predetermined and a downside $$ number that is predetermined to end the day. Thus, when the trader is close to the $$ number he expects to earn, the trader is done for the day. Trading all day is an activity of past generations. The brain is a muscle and it gets tired when under severe stress and strain. How long can one curl a 5lb weight in each hand? Hours? A typical trader's story is that "I make money in the morning and gave it back in the afternoon". "Y" do you lose money later in the day? You lose later in the day because your brain is tired. And, what about the energy expended to be up money in the a.m. and to give the money back in the p.m.? Try coming back the next day and feel energized after losing. "There is such a thing" ( an old expression) as being mentally, emotionally and physically tired. Trading and working at most jobs is different. In this job of trading futures, when you are up near your goal, take a hike (literally). The next day, you will have a much better chance of winning again.

Self-Confidence for Traders

2009-12-16T01:25:00.000-08:00

There is a way to build self confidence besides having winning trades, winning days, winning weeks, winning months and winning years. You can build confidence through weight training. Can having a personal trainer help you? Maybe, but......... While training runners, I developed a unique weight training system to foster self confidence, and it works. It's easy, it's fun, and you can do it everyday...women too. Believe me self defense, martial arts, or yoga etc. can't build confidence like my Self Confidence Builder Program (SCBP). Will the program help you with your trading? What do you think? There is no loss here. When you look in the mirror, you will see somebody that you like, maybe even love, if nothing more! Call and ask me about the program!

2009-12-12T15:12:00.000-08:00

Lately, I have been working with traders to transition from floor trading to electronic trading. In fact, I have transitioned a bit myself by expanding my services to traders or people that need life direction, guidance or advice. During the first interview, I get to know the individual and then we collectively work out a viable program to transition from one's station in life to the next. Those who know me know that all I wanted to do in my life was be a football coach. Actually, I coached football at Evanston H.S. for under 6 months. The football coaching experience was outstanding because of my mentor Robert Trevarthen. Becoming a football coach just wasn't in the cards for me. Ones' life takes some interesting twists and turns as fate plays a hand in our existence. If one is interested, I am willing to share my path from a teacher and a coach to owner of a futures trading firm in Chicago.. There are many unexpected experiences in one's life that shape one's decision making and take him off course. Unexpected doors open and close all the time. A secret involves being aware and ready to change. Also, to simply change is one thing, but to change and desire to be successful, takes time.

Your personal life affdects your trading!

2009-12-08T16:38:00.000-08:00

Many traders have a hard time believing that their personal lives affect their trading performance. A trader must realize the magnitude of the brain and get to know how the subconscious works. Lots of information is stored in the brain and lots of things are going on in the brain without one realizing it. If a trader is troubled: for example, a family member is sick, a spouse's argument has taken place, one or more of the traders children is having a personal problem, or a tough month in trading may prevent bills from being paid etc. It may be difficult or impossible to have a successful day because of the brain ( the subconscious) being preoccupied with a problem. Thus, the trader may have a difficult time focusing or concentrating on trading. Whether or not the trader is dealing with a problem consciously, he or she must be aware that he or she maybe dealing with a problem subconsciously. For the fore mentioned reasons, a trader must always be in tune with what he is thinking. How many traders think about about what they are thinking about? How many people think about what they are thinking about? Well, to be successful one must be in tune with ones self. Thus, to know what one is feeling and thinking is vital to one's performance. How well do you think Tiger Woods could play with his recent problems? My advice is for the trader is not to trade until the problem is solved or until the trader has the ability to transcend the problem temporarily (this takes practice, this takes work, this takes experience and this takes time to cultivate the ability to know that trading on a particular day may be prohibitive and could be disastrous).

Success in Trading or in any endeavor!

2009-12-06T06:57:00.000-08:00

1. Would you rather read about someone else's success? 2. See others become successful? 3. Or, learn how to become successful yourself? If you choose number 3, then you must be a ware of the following. The tools needed to be successful are: a passion for the endeavor; a will to accomplish what you set out to accomplish; self control; perseverance; and, a person who helps you to believe in yourself. Mkh

From the floor to the screen!

2009-11-25T15:39:00.000-08:00

Almost all floor traders are considering their future if and when the pits in Chicago close. I am of the opinion, that each and every trader who loves the business of trading prepare to be a screen trader. First and foremost, time must be set aside each week to determine how to screen trade. Yes, I mean the trader must prepare and practice screen trading each week for at least 2-4 hours throughout the year. Screen trading, as my daughter who was a pit and floor broker in the S&P'S says "screen trading is like comparing pit trading to becoming a dentist - two different careers! The next suggestion, I want to make to the new screen trader is to screen trade another commodity than what the trader is trading on the floor. With an "empty glass" it is easier to begin the new trading experience and ultimately succeed by trading another contract. For further clarification, a trader may contact me at the Chicago Mercantile Exchange/ Dowd Wescott/ University of Trading 312-909-1301. Using a hand held on the trading floor is not screen trading!

To become a successful trader!

2009-11-25T10:55:00.000-08:00

The first stage of learning how to trade electronically is to have enough courage to execute trades. The second stage of learning to trade using a computer involves not concerning oneself with winning but learning how to lose without stressing!Stay tuned for more.