But there is one particular kinds of traders also whom have been in touch for long period. They just struggle to get a grip on trading. Some of them in last 18 months have been through various methods, various websites, newsletters and they continue to struggle. What is most interesting is that they put enormous amount of energy in their struggle. So they are unsuccessful inspite of their efforts.
I have been thinking a bit about this for sometime. Some people just cannot define a logical stepwise methods or lack in confidence. As against that the successful ones have very different approach. For example:
- There is a silicon valley based trader, he had run various backtests, changed and evolved rules and made his own system based on similar logic to Double Trouble. This inspite of having full time and very demanding job.
- Some time back I exchanged hundreds of emails with a trader who very methodologically defined and tried to understand the earnings trade and Virgin strategy.
- There is another trader who everyday does a thorough analysis of all earnings releases not only 100% plus and culls out 2-3 top ideas and trades them.
- There is successful trader whose specialty is IPO,throughout the day she keeps sending out email alerts on IPO trade and if I need some info on IPO's ,she is the first person I catch.
- There are 3 traders who everyday send me a copy of their analysis for every stock in Episodic Pivots and the logic for picking up trades.
- I also get analysis of likely additions to IBD 100 and shortlisting of best candidates from IBD 200 from many people.
As against that the struggler find more and more innovative ways to struggle. They just cannot somehow define a method and continue to flirt from one method to another. If a sector is hot, they get excited by it. If one call by Crammer is right, next 3 months they are after Crammer. Next they get excited by Elliott Wave or Fib or some concept and then put lot of effort in to it. It is interesting glimpse in to the psychology of some of the traders who fail to make it or continue to struggle.