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"The great aim of education is not knowledge but action." |
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Herbert Spencer (1820-1903) |
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Address: |
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USA:
1620 Central Ave, Suite 202
Cheyenne, WY 82001
Canada:
20486 64th Ave.
Suite #108
Langley, B.C. V2Y 1N4 |
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Phones: |
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Tel: 604.539.8700
Fax: 604.539.8701 |
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Here are some of the cast of characters. Please keep in mind that many traders have multiple members of the cast present in them. For example, a trader might be a combination of Fearful Frank and Analytical Andy. These are just some of the many characters that we use while teaching traders how to trade profitably and consistently. |
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Analytical Andy: Andy over analyzes everything. He is the poster boy for “Analysis Paralysis.” As you can clearly see, Andy is weighted down by tons of paperwork. This paperwork is from hours spent in front of the computer, over analyzing every trade to the point that he never takes a trade. He constantly watches all of the great trading opportunities pass him by because by the time he has finished analyzing the trade, the opportunity has passed. Andy waits for way too many indicators to line up and needs way too much confirmation. Because of his necessity to over confirm everything, the only trades he ever enters turn into losers because of his late entry. He is the last one to get into the trade and the first one to get out. |
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Fearful Frank: Frank is always afraid that he will lose money while trading. Frank does not pull the trigger on trades because he always looks at the worst case scenario. Whenever a good trade comes up, the first thing that Frank thinks about is how much he is going to lose because he took the trade. When Frank finally gets in a trade, he can never step away from his monitor, even for a minute. Frank constantly watches his P&L window and tends to make emotional decisions whenever he is in any losing trade. |
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Greedy Gus: Gus is a greedy trader. He should think about the motto “Bulls and Bears make money; Pigs get slaughtered.” Gus is always afraid that he will miss the good trade, so he is constantly getting into trades in which he has no business being in. Because of his fear of missing a good trade, he does not wait for the high probability setups. Instead he shouts, “Just get me in at the market!” Gus tends to hold onto his winners way too long because he thinks that every trade is going to the moon. Many times he lets winners turn into losers because of his greed and not wanting to take any profits. |
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Stubborn Sam: Sam will not listen to anyone. He does not like to take advice or learn anything new because he thinks he already knows it all. Sam stays in a trade even when everything tells him to get out. Once Sam has made up his mind, he refuses to change it, even when the market conditions or reasons behind the trade change. Because of this, he will take a trade to the grave with him. Sam needs to learn to constantly reevaluate what the markets are telling him and to be willing to listen to other traders who know more than he does. |
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Thieving Tom: Tom does not like to do any of the work or research for himself. He tends to steal other trader’s ideas. Because he doesn’t do the work for himself, he is constantly getting caught in trades that he doesn’t understand, and therefore, he doesn’t have the necessary information to manage the trade effectively. Tom is constantly looking for the next “hot” idea that will make him all the money he needs and put him on “easy street.” Tom needs to either start doing the research and analysis for himself or find another career. |
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