The Road to Successful Trading

 
Give and receive 
Trading markets are huge and it is easy to imagine it is just you, the trader, against the world. You 
know that there are vast sums of money being managed by a relatively few fund managers who are 
out there trying to suck the little guy, you, into surrendering their audacity to “swim with the 
sharks”. There are some who feel that it is not beyond the realm of possibility that some large fund 
managers might be communicating with each other and indeed, there is nothing illegal about 
discussing business.
There is no dispute that more heads are better than one and this is particularly true with trading.
Often times, the markets are not rational and at times” off the wall views” (call it contrarian) can 
have merit. Many traders read continuously about trading and the markets and there is little doubt 
that the many can absorb much more information than the isolated trader. You may see something 
that appears to be clear but you have no input to persuade you otherwise. You may only learn the 
truth about your perceptions only after a losing trade. By operating in isolation, a trader loses the 
advantage of talking and listening to other traders. It may be only occasionally that the words of 
others play an important role in your trading but that one time will pay off handsomely. If you are 
isolated off from other traders, you may miss the ability to look objectively at your perceptions and 
ideas and those of others. Isolation has its price and a trader should reach out and try to develop the 
powerful resource of the minds of others. 
You may think you are right but throw it out there and your view may not be shared by others. If 
you are flexible in your attitude about sharing information, you will benefit not only yourself but 
others like you. The market is huge and a few traders talking shop is not illegal; in fact not to 
collaborate with others is a perhaps an unhealthy sign of arrogance and self destructive insecurity.
By keeping an open mind and not letting your ego get in the way, other traders can become your 
mentor and vice versa
 
How to Design and Construct An Effective Trading Plan 
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There is no doubt that being open to the ideas of others and using others to test your ideas is a 
superior strategy to that of just listening only to your own counsel. If you really want to be 

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successful as an independent trader, you must reach out and share openly and honestly with other 
traders. In today’s digital world, there is no excuse not to tap into this marvelous resource.