Hey everybody. It’s Michael Martin. So I got an email from someone who suggested I get clear or help them understand why I say you shouldn’t be sitting in front of the screen all day when you’re just starting. And the reason is, is because you don’t know anything and sitting in front of the screen, isn’t how you’re gonna learn. You’re only gonna learn by actually putting on the trade, sitting there, right. For who knows how long? I don’t want to say hours and hours, because I don’t really know. And sitting there might induce you to want to kind of sit there like a slot machine and pull the one arm bandit, when you don’t know what you’re doing. The last thing you want to do is try, try to feel any type of gravitational pull from the market itself as if you have to do something, right?
Another example, if you’re watching one minute bars, right. That data’s not material. So you can line it up. Of course, with like weekly or monthly highs, then it would mean something. But then it’s incidental because it’s the weekly or the monthly high that actually has the statistical significance. But what I don’t like hearing about is folks trying their hand thinking that somehow they’re more in control when they’re looking at things like in the lower timeframes, because that’s not the case. And I get the emails from people like all the time. I only read you the ones where I can kind of help people save themselves. But for a lot of folks, it’s too late. They bought into some marketing pitch that if you have 14 monitors and you’re sitting there with real time quotes, watching things in one minute bars, you can’t possibly lose.
And I’m sorry for that. We as an industry owe you better – you deserve more from us. We’re failing you. And we let that type of marketing happen. I try to call people out without starting fights. But the majority of what you see advertised is garbage. Now my other philosophy is this go to Martin Chronicle and look to sign up for a course to trick course. It’s a trick question. You can’t do it. It’s it’s unethical in my way of thinking to sell a person a how to trade course. Okay. If I don’t know who they are and what their makeup is because that’s, if you don’t know any of that information, how are you gonna know what type of trading system is gonna resonate with you emotionally and psychologically, that you can replicate day after day and hit your goals. Chances are, and I’m gonna say it this way. 97 out of a hundred people don’t have clear goals. And if they do have a goal, it’s probably like, I want to make a thousand dollars a day. I want to make X amount of dollars. That’s not a goal that’s like saying I want to lose 20 pounds as your new year’s resolution.
So maybe if you knew what the money was gonna do for you, and there was a magnetic pull that way. But nonetheless, I don’t want to get off subject. The idea here is that if you sit in front of the screen all day, without having a strategy, you could end up doing stupid things with your money. Now that’s different from what I do recommend, which is trading is your best teacher, but that’s something you would know, like over the weekend, what you’re gonna try to do Monday to gain the experience. Okay? Have that mapped out, open up your thing, put the trade on and then be done with it, steering and watching it. Isn’t gonna make it move in your direction, right? You purchase something long, put in your protective stop and that’s it. You can trust the market mechanisms gonna work for you. And if you’re so scared about losing money, there’s not a lot.
I can help you with there because you’re gonna have to try to figure out what level you are comfortable and willing to lose in order to get where you want to be. But the benefit of listening to this show is that I’m teaching you the stuff that the pros do and that they had to go through before they made it. And no one is exempt from going through this, not a soul one way or another. If you want to dance, you have to pay the Fiddler. And that’s the way that it works. And if you’re underfunded, I would sit and wait then and try to gather some funds and then trade. When it’s not gonna be such a psychological blow to you because you will lose money and you are going to make mistakes. And very rarely do I think in 35 years, I made one mistake that I actually made money on.
And I’ll tell you exactly what it was. I was long gold. I think it was many years ago, 15, something years ago more. I was long February gold, beyond first notice and I got delivered against, so it wasn’t technically a mistake, but it was something that I should have known better. And I didn’t, and I was already a pro and I got delivered gold and I didn’t want it. So I had to unwind the whole thing. And somehow in the end of it, I think I netted two or $300, but the it’s not the money’s insignificant. The thing is, is that’s, that’s not what I wanted to have happen. So I look at that as a mistake.
Anyway, if you have any questions about this, so you want to get more clear reach out via email and I will help you discover what’s best for you based on what you’re willing to do and what you’re willing to feel. because if you’re unwilling to feel those feelings, it’s going to be very, very difficult for you to succeed in the trading world. And that’s good for anyone. Who’s got a thousand dollars or anyone’s got a hundred million, the feelings that you don’t want to feel have as much control over you as the ones that you think you do want to feel.
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