The Crude Oil Trader: masterclass

Today's article is from my trading partner, Brian McAboy of Inside Out Trading. Brian is a retired engineer and has a rather unconventional yet very effective approach to helping people become successful traders. He's been helping traders for over 11 years, so he's been around long enough to know what works and what doesn't.

Take just a minute for this. You'll be glad you did.

There are two very specific success traits that pertain to you and your trading. The first one is absolutely necessary for you to give yourself a reasonable chance of making it. And the second one is to keep you from wasting tons of time, money and psychological capital

Now as you know, trading is not a "get rich quick" kind of activity. This is NOT a place where anyone off the street can stroll in, grab a system, start throwing money at the markets and live happily ever after. Just doesn't work like that

Trading IS a true profession, a skill based occupation, and not a place for the squeamish or weak of heart. So for a person to expect to be "living the lifestyle" overnight is just not realistic. But the question then becomes, "How long should it realistically take?"

Too many traders let things go way too long in a less than satisfactory state

They simply let time to continue to pass, doing things generally the same way they have been for months on end, with the same disappointing results, well beyond what is really a reasonable time to allow

You see, there are generally two aspects of patience when it comes to trading:

You have to be patient enough for things happen, for your trading to develop and mature.
The other side of patience is knowing when you've reached a point where it's pretty obvious that your current approach just isn't working and it's time to stop, reassess, and change course.

"How long should it take?" is a common question, and the real answer is that you can get to the point of real, business like, reliable consistent profits in 3 to 6 months, a year at the outside

If it's taking YEARS, then something is wrong and you're really just spinning your wheels, wasting time and money and cheating yourself out of the success that you should be enjoying. There is also a huge personal cost to letting things take longer than they should

One trader expressed this very well,

"I've been trading futures for about 9 years now with inconsistent results. I've made the usual mistakes, buying too many courses, focusing on the results not the process and being too impatient to trade to wait for valid setups.

After listening to your video this weekend where you make the distinction between being patient in the beginning and giving yourself time, and beyond a certain point (3 - 6months) considering that it may be time to be impatient about your progress, this made me realize I've been allowing myself to coast for far too long, and that's impacted my confidence and the belief that I can turn trading into a business with a consistent return."

Complacency, NOT being impatient when it's time to, is one of the biggest cost centers many traders have

There's the financial cost of missed profits and unnecessary losses, plus the opportunity costs of not enjoying the fruits of your time being spent on other matters of course, but she noted the personal, psychological cost as well

The thing is, you chose trading so that you could have freedom, financial and time freedom, not a J-O-B. You wanted trading to be a truly enjoyable activity that generates income and wealth and provides security and peace of mind

If you've been trading for more than a year, and your trading is not where you want it to be, nor is it really even close, and looking at the trajectory that you're now on, it doesn't look like you're going to get there anytime soon, then perhaps it's time to consider a different approach. That's why I suggest that you check out the training masterclass I created for you

Here are the details on the masterclass,

"Rewrite Your Trading Story"

How to become a confident, consistent and profitable trader in 60 days or less even if you've never had a profitable month.

Here's what you will discover....

The "Little 3" and the "Big 3" and Why the Wrong Focus Will Have You Chasing Profits Forever
"The Gap" and How It Keeps Traders Jumping From One System to the Next, Without Ever Realizing The 'Easy Consistent Profits' Promised by the System Sellers
One Specific 'Hidden' Lie Traders Tell Themselves That Continually Drains Your Time, Capital and Confidence
Why Self Sabotage Goes On For YEARS For Most Traders, And How To Permanently Eliminate It From Your Trading
The Four Stage Process To Make YOUR Trading Profitable And Predictable