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Testimonials

I believe you are probably the best out of the literal hundreds of traders that I have witnessed.
-Frank B.

I would like to say that the way you teach the structure trading is excellent. I have gone from not being able to pull the trigger on trades to feeling more confident & excited in trading now.
-Hemal P.

This week on the AU market I have done my first trade... well, it has brought sweet success! Thanks again and kind regards.
-Jurgen K.

Has This Ever Happened to YOU???

By Todd Brown :: Head Trader / CEO
Jul 2, 2008, 21:55

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Here is the picture: You got a perfect and restful 8 hours sleep and wake up bright eyed and ready to go. You get to your desk after your morning ritual and have plenty of time to spare. So you decide to be EXTRA prudent this day and go the extra mile and you have all your notes written and support levels on the posty note on the monitor for every market, currency pair, stock, whatever the instrument and you have your plan of attack for the day, (rules of engagement for those who invested in our DST course). You have a clear mind and nothing but positive thoughts going through your mind and you just know that it is going to be a profitable day. So its 5 minutes until the market open and there you are ready to just bring that market to its knees because it is a great morning and YOU have done EVERYTHING correctly.

Well the market opens and starts to head south so you prepare for your first trade of the day and sure enough you get the setup and place your order and the market comes within a single tick of entering and then moves straight to your target and you weren’t in! This is where some trader’s day just took a bad turn. You now start figuring in your head how much money you would have made and you don’t know why you didn’t “know” to go ahead and enter with a market order even though you only use limit orders according to your rules. Well you shake that off and the next setup comes and you get your order in and sit patiently like a good trader does and poof it happens again. NO FILL and it would have been another nice winner so you start getting upset and your palms get sweaty, your heart is racing, and you now are thinking internally that the market is out to get you. “They are just playing games today” or” Why didn’t I just stay in bed?” starts running through your mind.

Now at this point many traders will turn the machine off for the day but let’s say you know you have to take every trade your system produces to see the results you want so you are disciplined enough to take the next trade. This time you put your order in and you add a couple of ticks to the order because you aren’t letting it happen a third time. The Market moves up and goes and you are in the trade!! It would have been filled at the correct entry anyway so you took on extra risk and if you use targets just dropped the reward as well but it doesn’t matter because there is an unscheduled news event and the President is speaking on the economy improving and you are short so it rally’s. You get stopped out and then the market falls and hits your target in a wild and violent move up and down full of emotion from the news. Now you are thinking “How can this be? I was so prepared today.” So in disgust you quit for the day and that evening see that if you had stayed in the seat and taken all the trades you SHOULD have that day you would have made a nice profit. Can this all be true?

If you have been in the markets for very long you know it can. The ability to stay disciplined and trade your plan is much much harder than it sounds. So if this sounds like a day you have had or the story of your career I promise you that you are not the only one this has ever happened to! This IS however what will ultimately decide your fate as a trader and the outcome of your career as one. Will you be the 90% who give up and close their accounts in the first year or will you be the 10% who make money and beat the market? The choice is all yours.

By now you are probably wondering why I am even talking about this. It’s simple, this is what we teach traders to deal with and it doesn’t happen without the proper knowledge and help. The most successful people in the world all have 1 thing in common. The all have at some point if not always had a mentor. Someone who can help them overcome the emotions involved in their profession. That is one of the biggest things we offer is the experience and knowledge of how to get these types of destructive and costly mistakes out of your trading. So please, if this little story struck a nerve in you, come take control of your career with us! Trading isn’t easy, it is however simple. Psychology of trading is by far one of the hardest things to learn and employ, once you do then you write your own check in this business. LITERALLY. Join us today and take the emotion out of trading forever!

Trade What You SEE!

Matt

At The Trading Authority, Our philosophy is to provide a one-stop trading education solution by addressing all of the factors critical to online trading success. These include a profitable trading system and tools as well as trading psychology and money management strategies.