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.

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