How many times have you heard the biblical admonition, “it is better to teach a person to fish than to give him or her a fish to eat”?  Probably more times than you care to remember.  This concept of learning “how to trade” as opposed to seeking out “what to trade” is a key distinction in the long term development, and eventual prosperity of the Trader.  It is also central to the Tickerville mission, as it is the first principal of the Boot Camp series, and the focus of constant mentoring by Quint and others within the Tickerville trading community.

Despite the fairly evident logic behind the importance of “learning how to trade”, it is still a difficult concept for many Traders, especially new Traders, to embrace.  Basically, the “how to trade” versus “what to trade” is similar to the choice between exercise and dieting when trying to loose weight.  When most out of shape and overweight individuals embark on a weight loss program, they immediately turn to the latest diet fad or fashion, and seek out “what to do” in terms of caloric intake, food type or various other programs on offer through television, magazines or the internet.  In short, most folks seek to be told “what to do” in order to loose the pounds.

In reality, what most people who have lost weight and kept it off will tell you, is that in order to have lasting success in the body mass game, you have to made serious lifestyle commitments, with exercise and physical activity as a daily budgeted activity.  As opposed to having to invent the latest diet fashion, most people already know how to exercise (we all took gym class as kids), and there is no magic formula beyond sweat and discipline.  There are few fads here, and certainly no shortcuts to cardiovascular health.  However, the successful active adult, with a lifestyle commitment develops good ongoing habits, is much more likely to achieve, and more importantly, sustain, a healthy body.

So it is with successful trading.  When many newcomers to the markets start to trade, they are drawn to the latest system or “names” to trade by watching Fast Money, online blogs, or purchasing pre-fab trading systems to dive right into with little or no effort or commitment.  This is why 90% of all dieters fail to keep off the weight, and why 90% of all traders fail to keep their capital.

The successful Trader first learns the “how” of trading, by committing time to learning key concepts such as risk management, impulse control and the art of taking profits against the powerful emotions of greed and fear.  The successful Trader puts in the treadmill hours when the markets are closed to review charts, study historical patterns, plot indicators and manage watchlists.  The successful Trader does the stretching and warm up work of journaling their trades, documenting their results and testing their trading approach.  It sure is not glamorous activity, and I am sure that I have never seen a trading spreadsheet lesson on Fast Money.

It is my goal as a contributor to the Tickerville community to engage you in a discussion of the “how” of trading, much more than the “what of trading through my periodic writings and video appearances.  While I will post individual names and patterns, my primary mission will be to bring you the framework around “how to trade” and achieve trading longevity.  There is no shortage of watchlists, hot stocks, setups and breakouts for you to find, and given the high quality of this content in Tickerville from the superior traders on the site, you will get much more than a fad diet approach of “what” to trade.  You will get nothing short of a nutritionist’s fare of what and how much to eat.

However, if you want to dig deeper, and learn the “how” of trading, please join me on the exercise circuit, as we develop ourselves as Traders emotionally, learn discipline, remain accountable, and build our capital over a lifetime of consistently prosperous trading.  See you bright and early for warm up and a run to greet the day.  There are no shortcuts, but once good habits are formed, a sustainable healthy lifestyle comes naturally. 

~ QuasiD is a Tickerville Active Trader Moderator