38 Steps to Successful Commodities Futures Trading

1.We accumulate trading information - buying books, going to seminars and
researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realize we may need more knowledge or
information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our 'updated' knowledge.
7. We get 'beat up' again and begin to lose some of our confidence. Fear starts
setting in.
8.We start to listen to 'outside news' & other traders.
9. We go back into the market and continue to donate.
10. We switch commodities again.
11. We search for more trading information.
12. We go back into the market and continue to donate.
13. We get 'overconfident' & market humbles us.
14. We start to understand that trading success fully is going to take more time and
more knowledge then we anticipated.
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Many Traders Will Give up at this Point as they Realize Work is Involved
15.We get serious and start concentrating on learning a 'real' methodology.
16. We trade our methodology with some success, but realize that something is
missing.
17. We begin to understand the need for having rules to apply our methodology.
18. We take a sabbatical from trading to develop and research our trading rules.
19. We start trading again, this time with rules and find some success, but overall we
still hesitate when it comes time to execute. We start trading again, this time with
rules and find some success, but overall we still hesitate when it comes time to
execute.
20. We add, subtract and modify rules as we see a need to be more proficient with
our rules.
21. We go back into the market and continue to donate. We go back into the market
and continue to donate.
22. We start to take responsibility for our trading results as we understand that our
success is in us, not the trade methodology.
23. We continue to trade and become more proficient with our methodology and our
rules.
24. As we trade we still have a tendency to violate our rules and our results are
erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market and trade.
28. Our trading results are getting better, but we are still hesitating in executing our
rules.
29. We now see the importance of following our rules as we see the results of our
trades when we don't follow them.
30. We begin to see that our lack of success is within us (a lack of discipline in
following the rules because of some kind of fear) and we begin to work on knowing
ourselves better.
31. We continue to trade and the market teaches us more and more about ourselves.
32. We master our methodology and trading rules.
33. We begin to consistently make money. We begin to consistently make money.
34. We get a little overconfident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but
successful) and our trading account continues to grow as we increase our contract
size.
37. We are making more money then we ever dreamed to be possible.
38. We go on with our lives and accomplish many of the goals we had always
dreamed of.