Not all of you folks are day traders (or even want to be). But the broad outlines of what I'm about to share apply to you just as it does to those who are day traders.
I had the good fortune to have coffee with a friend passing through town this weekend. He's still on the corporate turnstile and, until recently, was on the rise inside his firm. He found out last month that he might become a casualty of a slow down in his line of business.
Late forties, pre-teen kids and recently divorced.
Most important he's living the highly leveraged (debt filled) life he's been told his whole life he's supposed to live.
And he doesn't see an out.
He asked me why I've never suggested day trading to him... He knows I consider people like him perfect candidates to learn what we do... - reasonably smart
- hard working
- time flexibility (available between 9 and 11am EST)
- current income source
I chuckled a bit and reminded him he left the most important ingredient out of that little list.
What is it you ask?
He doesn't believe in what we do.
He's a long term hold, fundamental value, blah, blah, blah kind of cat.
Back to our conversation, he paused for a sec then agreed... saying he doesn't really believe what we do is possible.
I smiled and said, "Yes... but what if it is possible?"
My point?
Do your beliefs help or hinder your development as a trader and this your ability to make money from trading?
==================
Here's your PreCap for this week.
Enjoy the remainder of your evening.
Stay simple.
KIS,
The Trader
| 
