jwdodge01

EL is Tradestation, tradestation.com Great platform and easy access to stocks, ETF futures and FX Customer service average $100/month if you have an account and < 10trades/month. No programming degree required for EL. very straightforward or Ninjatrader.com Good Platform with great access to futures and good access to stocks Customer service is on-line only, but timely, articulate responses They have a free version of NT with EOD data from Kinetick programming in ninja scipt is C# I use both, have nothing to sell, nor do I receive compensation for sending you to their sites

I agree that a person must develop a new model of self, work and success when making the transition to trading and that their training should holistic. It will be interesting to see how your cooperative program with trading trainers works. I watch different training techniques from a curiousity position, because I went through many webinars, training programs and methodolgies in my searching years. In that time, I found very little in real training from the "experts". It would be great if, as part of your coop training, you can get students to understand what resources they need AFTER training. They need to understand that they have to do enough live account trading and self assessment to fully understand themselves AND implement the training they received. I am not a trainer and have nothing to sell, but very few of the people that ask me for help, have the commitment, patience and/or funding it takes to succeed after "training". I realize that I may sound negative about the training community, but I have yet to see anyone who is selling training (system and psychology) actually help their students understand the time and effort it takes to become successful. Maybe you can work to change that truth. I propose that there are not many people who can or will persevere after they have blown out their 1st account or go a year or more without consistent income. Maybe that is where the infamous 5% number orginates.

I spent almost 10 years trasitioning from a successful business career to consistency as a trader. That makes me look slow, but it was the most difficult thing I have every accomplished in my life. I spent the early years looking for the "Holy Grail" in seminars and internet opportunities. That what newbs do, right? Finally after attending a Mark Douglas workship, my transition took 3 years of daily focus, studying Mark's books and making trade after trade, reviewing my actions until I fully comprehended the concept of probabilities, randomness and ubderstanding what Rande calls "mindfullness". I still track my actions and system probablities on a daily basis. I never question doing it, it is part of my business plan. The most frustrating thing I see these days, is the multitude of so called training webinars touting shortcuts to success and people making 10lot (or more) trades with demo accounts. They give new and struggling traders the impression they can BUY the understanding and experience they need to be consistent. If we really want to help new and aspiring traders, we need to help them understand there is no shortcut to consistency. They need a good understanding of their "mindfullness", an edge, and the where-with-all to get the experience they need to understand the only thing they can control is their own action. Like I said at the start of this post, it took me about 10 years, after having a very successful career in the corp world. I may be slow, but that's what it took me to make the journey.

Growing from watching the markets (or sim trading) to making a steady income from trading is a journey that few who start become successful. But, if you are trading consistently in 6 months, GREAT! You made it to the first step of successful trading. NOW Move forward, once you become consistent, understand that as the market changes you will need to learn to adjust and move with it, or you will be another 6 months down the road, wondering what happened. There is nothing you can buy or assimilate from someone else that will give you that knowledge. It comes with experience and you can't buy that. Long term successful trading becomes an art that has little to do with who you are or what you know today. It is a journey that will always have you developing new skills and understanding new ways to approach the market. JD

Db, I spend a lot of time reading TL posts, but rarely post myself. Your post should be part of every perspective traders learning process. It is right on the mark. Thanks!

i was where you are at in 2000 and with the info you provided, i say don't do it without getting a lot of help with the pychological aspect of trading. the tax entity, software and indicators are great things to discuss on these forums, but will do little to make you money. I spent 5 years and 150k looking at all those externals, before reaching to the point of understanding the mental aspect of trading. then another 2years making it a viable business. if you still want to get into trading, spend the money get the best computer, internet setup, open a minimum futures account (usually 5k, and expect that to be gone as a cost of education), get help with the mental aspect of trading through one of several programs on-line, (you may or may not get what you pay for) and start by sim trading the euro futures contract (not forex!!) for a couple of hours at night. with the best equipment, a trading plan and phycological training or coach, the only thing that remains a variable is in your head. you will quickly know your appetite for taking those small losses and willingness to flow with the market. the night trading can easily generate $200 if you have the right mindset for trading. there is no easy or fast way to get from where you are to the magic of consistent profits, but it can be done. wishing you many great trades