Announcing the “How to Trade for a Living” Bootcamp

A boot camp for aspiring traders

Atlanta, Georgia

October 20-22, 2011

I am thrilled to announce a joint endeavor I am undertaking with Robert Prechter and his team from Elliott Wave International. Robert and I have known each other for 30 years and this project fulfills a decade-long dream.

If you are just starting out in a hopeful trading career, or have traded for a few years without the success you expected, then this boot camp may be for you.

It is well documented that at least 80 percent of people who actively trade stocks, futures and forex markets lose money. The percent of people who become consistently and meaningfully profitable is between 5 and 10 percent.

I have observed workshops, seminars and conferences attended mainly by novice and aspiring traders. I have also participated in gatherings of proven traders. The conversation and themes of the two different groups are as far apart as east is from west. Consider the following:

 In short, novice and aspiring traders obsess about finding winning trades. Professional traders obsess about managing losing trades. Novice and aspiring traders want success to come without a big cost. Professional traders understand that trading one of the toughest jobs in the world, there are no short cuts, and trading success is a journey, not a destination.

Most novice and aspiring traders will leave the game a loser before understanding the most important aspects of speculation. What are these foundational aspects understood through trial, error and endurance by journeymen:

  • Developing a comprehensive and  realistic understanding of risk and profit potential
  • Designing and implementing protocols for risk control, risk control, risk control, risk control
  • Forming a personalized trading plan, fit to a one’s personality, character traits, risk tolerance, capitalization and time schedule. Nobody I know has ever been successful by copying someone else’s approach.
  • Knowing exactly what a trade is or is not within the framework of one’s trading program
  • Understand and managing powerful and counter-productive human factors such as greed, hope and fear
  • Developing and maintaining a structured trading routine and process
  • Identifying metrics to monitor (and, if necessary, to modify) one’s trading operations

These foundational pillars will be the sole focus of the boot camp. I will not present my specific trading approach or advocate for one general approach over another. Whether you trade forex, stocks or futures is unimportant. It is my hope that the last day of the boot camp will be the first day of a new trading adventure for you.

Why am I conducting this boot camp?

I have made significantly more money in a good day of trading than the entire sum I will collect for three full months of preparation for the boot camp. I am undertaking this endeavor with the Elliott Wave International folks for two major reasons (besides my friendship with Bob).

  • I believe strongly in the concept of mentorship. I will always be grateful for the two men who mentored me at the Chicago Board of Trade so that I could avoid some of the mistakes they had to make.
  • I am looking for new trading talent. My longer-term goal is to fund a multi-trader pool built around emerging traders. I am hoping to find two or three such traders inAtlanta.

If you already have an established and consistently profitable trading operation, then my hat is off to you.

I hope you can join me inAtlanta. There are only 20 spaces available. So, if you are interested, please act soon.

To learn more about this special 2-1/2 day event scheduled for October 20-22 in Atlanta, Georgia, click here. 

 

Traders Boot Camp

Two exclusive 3-day Boot Camps for serious high-net-worth traders in 2012. If you trade at least $500,000, have three to five years of experience but have not achieved the performance you desire, this Boot Camp may be for you.
Only 40 seats are available in 2012. The next possible Boot Camp in the U.S. will be late summer 2014. Click banner for more information.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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