How I Have Made Money Trading Commodities
Thanks to the excellent articles in CTCN over the past
several months by many traders. I have been inspired to also write about my
trading success.
It's true, trading success is more related to the trader's
physiological makeup, a trading plan and the discipline to follow it
religiously, and money-management techniques. The trader's methodology, in my
opinion is not as important as these three listed attributes.
When I first started trading commodities, I lost plenty of
money, like most new traders do. However, I didn't realize it at the time, but
it was like college tuition for me. The $40,000 I lost, was in fact the
approximate cost of a four-year college degree. The great knowledge gained
during those early losing years was well worth the "tuition cost."
My trading and bottom line has now greatly improved, thanks
mostly to my better psychological makeup, discipline following my plan, and
good strict money-management.
Once again, I started out a big loser.
Also, as mentioned by other traders, for years I was
far too concerned with data services, type of data
(perpetual vs continuous vs regular data), quote machines,
charting services, advisory services, standard technical
analysis methods, etc.
After years of fairly consistent losing, I realized that its
all garbage and trash and will not make you any money. Discipline, a well
defined but simple trading plan based on sound trading principles, good
money-management methods, and the psychology of trading will make you plenty of
money.
That's only providing you can shed
all the heavy baggage of the believed to be valuable
trading tools and concentrate on these aspects of
trading. This will really make you lots of money.
You too can do it. written By B.J.
