Trading For A Living

Trading For A Living, a book published in 1993, opens with an inspiring story about how the author deserted from the USSR navy and immigrated to the USA. He had $25 in his pocket when he arrived in the USA in 1974. Two decades later, he wrote the book Trading For A Living after becoming a psychiatrist and a financial trader (his preferred area is futures trading). He's a popular author and a popular trading coach.

I really like the book and own a copy of it plus the workbook that accompanies it. It has made and continues to make a big contribution to my trading profits in the e-Mini Market Index Futures that I like to trade and which are featured at my commercial website, LeisurelyCashFlow.com

The author of that book says you should consistently make a decision about who you are before trading. That's similar to what I wrote in the June 21, 2006 article in this blog (entitled "Decide").

I said that "the first step to becoming profitable is to DECIDE to become profitable". In articles that followed the June 21/06 article, I elaborated on how to get yourself to CONSISTENTLY make the decision of "I am a profitable trader".

I also pointed out that one of the secrets of the world's best traders is that they consistently make that decision every time before trading.

On the contrary, the author of the book Trading For A Living says the contents of the decision to make everyday before trading is that you are a loser, a big dangerous loser!

Great! The best traders in the world need losers (especially big dangerous ones) to take the other side of their trades!

Tomorrow, I'll chat more about other things I like in that book...

Raymond T. Lee
Leisurely e-Mini Futures Trading
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