This book, that I read about the same time I read Enhancing Trader Performance, Proven Strategies From Trading Psychology (Steenbarger), finally convinced me about what it should be clear from the beginning: that trading is not easy, as any business is not easy.
Why trading should be easy than my actual business? I never thought for a minute that I could I solve my problems in my business applying some mathematical formulas to some data (something like price charts) and make money. And just because trading has something like price charts, it does not mean that money come from squeezing data from there.
Just think how is hard to excel in your business: lot of people is able to do it, may be as good as you; and you must sweat to do just a little bit better to get your money. Why trading should be different?
So, as in any field you want to excel, you need:
-Practice (the rule of thumb is 4/6/10: 4 hours day/6days a week/10 years to get there)
-Superior coaching, that teaches you how to practice
-Psychological support from your relatives.
After reading BWILC I found very honest the Dirk picture about markets, telling what should be your expectative and why you need a mentoring program.
I found that the strategy and methodology explained in BWILC fit naturally the market behavior. Unfortunately there is no magic formula inside, you need to use your brain to make money but the mentoring program will give you time to learn it. We would like to have a formula to make easy money, but this is not going to happen, anywhere, and not here too.
You do not rush in a business after a three day courses or after reading a book, so why here? You need time, right practice and mentoring.
We are not all like Larry Williams that made 1 million dollars from 1000 dollars in a year; this is what we all are looking for, but it will not happen just overnight. And the next year anyway he lost more then half. Leverage...Ciao,Stefano
