I hate to say it but the sad reality is that if you were in a room filled with 1000 novice traders that in one year, more than 900 hundred would already been blown out of the market. In other words they would have lost all or almost all of the money in their trading account.

Crazy right!

So what’s the deal? Why is trading so tough?

After all, when we look at charts at night it seems so easy. Just buy here and sell here off of a trend trade. Pocket a quick 50 pips and repeat…

It’s easy to get really excited looking at charts as we can see all the moves that happened in the past and assume that we’ll be able to identify them in real time in the present trading day.

The whole “BIG SECRET” to being a professional level trader is to
simply find one trading setup and trade the heck out of it over and over again.

A couple examples…

Trader 1: I knew a trader who I’ll call “Hillbilly Jim” as he lived in rural Arkansas and dropped out of school at 12 yet… (Please note I’m not making fun of him as he laughingly called himself the “Biggest hillbilly you’ll ever meet and proud of it”.)

He was making $5000 to $8000 a day using a simple strategy that used 2 indicators, 1 chart pattern, 1 market and a 1 minute and 3 minute chart. That was it and he never changed it.

So while he wasn’t considered very intelligent based on his official education level, he was a genius because of his ability to follow 1 thing which in the end gave him the keys to the ATM machine.

Trader 2: Sanjay from the UK was a student that used my system that I first offered online back in 2003 using some simple chart setups.

He managed to turn £1000 into £109,000 in just 10 months. Now don’t get me wrong as not everyone did this or came anywhere as close but…

His success came from the same place as Hillbilly Jim’s…

He knew that he had to faithfully follow the system over and over without deviation.

He also knew not to ever add other indicators or rules. He also studied my program 30 times so to say he was dedicated was an understatement!

Most traders get caught up in the “Bright Shiny Program Syndrome”.

This is where they buy one program and a few weeks later see a new “Magic EA” online that promises the keys to the vault so they drop the first program to focus on the newest thing.

A month later they see a trading guru online and decide that this is just what they need to crack the trading code so…

They fork out $5000 to sit at the feet of the guru and study hard and hang on the guru’s every word until…

They see a automated trading robot that promises a 100% return a week by just installing a piece of software which will take all the painstaking work and analysis out of the equation.

What could be better, right?

In the end all there is, is a BIG FAT NOTHING in the way of trading profits. Despite all this education, all they have to show for it is information overload and a terminal case of analysis paralysis.

So much so that it feels like their head might explode!!!

Does this sound familiar? I know I went down this slippery slope at one time as well.

The bottom-line to success is doing like Sanjay and Jim and taking one strategy and becoming a master at it.

That literally is the key to making your trading goals come true.

Now the million dollar question is…

What’s the best system?

NEWSFLASH: There isn’t one best or perfect system.

Every trader thinks different and is wired different so what is perfect for 1 trader is too complicated or risky to use for another.

The trick is to be smart enough to know that when something looks pretty good, is easy to use and gives you an edge then that’s where you should spend your time.

The next big secret is to turn a blind eye to all the other bright shiny trading objects…

If you follow my advice, I can assure you’ll be in the small group of traders still standing 1 year later but…

If you keep chasing the “next sure thing” then you’ll be chasing your tail for a long long time.

I hope this opens your eyes and gives you some food for thought…

Until next time, stay focused and believe…

Since 2003 I’ve written 5 books on trading and taught over 14,000 students in more than 73 countries. I love sharing my knowledge and I’ve found by accident that mentoring others actually helped me become a more profitable trader.