If you’re a trader who has a hard time taking a loss, or waiting for the right entry point, or prematurely exiting winning trades at the first sign of heat, or putting on too much size, or too little…..then those are the issues that need to be addressed.

If you don’t address the right issues you’ll never make it in trading. Period.

I get emails asking my opinion on various indicators, software, chat rooms, etc. Over and over I see traders continue to add stuff to their charts but not trade any better. It’s natural to think that more information will lead to better trading decisions.

I’m not against more information per se, but if you’re someone who struggles taking a loss, waiting for the right entry point, prematurely exiting a trade, or something else, you have to ask yourself why is it that more information has not helped?

Even with more information you’ll still experience uncertainty. I’m not suggesting stopping your search for more information, I am suggesting that you need something beyond ‘more information’. What you need is a type of confidence that I refer to as real confidence.

I define real confidence as resilience in the face of discomfort. This is different than how most traders describe ‘confidence. Most traders will feel good when things are going well and feel down when things go badly. A situation where confidence is closely tied to P&L.

Everyone knows that trading involves various forms of discomfort – losses, waiting, etc. And it is the ability to tolerate discomfort – resilience – that separates successful traders from the rest.

If you believe you have an edge but are unable to execute on that edge, you have two viable options.

You can decide to give up trading, or you can address the issue directly. Getting new software, indicators, joining another chat room is not going to do it for you. You’re welcome to try….but the trading road is littered with people like this. Although you may not want to admit it to yourself, you know I’m right.

A trader needs to be very honest with him or herself. Believe it or not, once you have an edge, self-honesty is the first step to making money in the market.

I maintain a small coaching practice where I work with traders who are absolutely committed and a good fit. If you think you’re one, email me first, if you’re still serious, we will have a phone/Skype chat to see if it makes sense to work together. I prefer to choose my clients as much as they choose me. You’ll know why once we talk. My self-paced course is another option.

Client quote: “Quality isn’t expensive…its priceless”