All right, welcome back, Matt Davio of Market Profile Trading Academy. One of the first questions I always ask students and partners that come work with us is why do you trade, or why do you want to trade? Very often I hear, the first question is, “I want to make a lot of money.”
I think that’s wise, there is a reason why you want to get into this business and ultimately, to any business, is to obviously show a profit. What happens in reality for many people that want to come into this business, is they treat … they drift away from their idea of making money, to getting sucked into the bells and whistles of the game, whether it’s indicators, whether it’s overtrading, scalping.
I ask you, quite simply, do you want to make money, or do you want the action that can come with the business?
It’s kinda of like Vegas. Unfortunately, with markets today and trading being the way it is, and online platforms being so readily available, even in your handsets, it’s created a microcosm of many people who think that trading often means making money. Quite honestly, I don’t think those two come together, so ask yourself again when I ask that question, “What do you want out of the business of trading?”
If it is making money, then why are you trading so much? Why are you trading all the time? I have no problem, and I have learned over the years that you must stalk the market. You must be patient and you must not trade. That is the way to run an efficient trading business.
If you really are out to make money, then please don’t overtrade. Don’t think that you can turn $10,000 into $10 million in a year, you will not do it. Very improbably, not impossible, but you will either be flat out lucky, and much like winning the lottery, you’ll end up losing it all ultimately, or you’re very good. You’re one of the … you’ve won the lottery, and having the tools, able to scalp your way from $10,000 to $10 million in a year.
If you want to run this as a business, we are here to help you at the Market Profile Trading Academy. Ask yourself, are you trading as a business, or are you trading because you’re a junkie and you want the action?
If you want the action and you want to blow a few thousand dollars, go to Vegas for a weekend. Have some drinks, have some laughs with your buddies, but trading is not Vegas.
I don’t enjoy going to Vegas quite honestly. As a matter of fact, used to go quite a bit for business back in the late 80’s, early 90’s, and now there is no thrill for me there, especially now that it’s become a playground for the masses. It’s really kind of a much more pathetic place than it has always been.
If you want action and you want to be pathetic, go to Vegas. If you want to trade as a business, come to the Market Profile Trading Academy, we’re here to help you. Trade smart, trade less, be patient. Sit on your hands, stalk the market.
We’re here to help at the Market Profile Trading Academy, misstrade.info. We’ve got a twitter feed where we provide great ideas for our members. We have one-on-one training and we have seminars for groups. Check us out, and again, trade as a business, and guess what? Being a junkie is not a business. Trade less, earn more.