million dollar traders

pl find below links to the 3 part bbc series "million dollar traders"

i recently came across these and watched them. these are 1 hour each 3 parts of an "experiment" wherein 8 shorlisted novice traders are given 1 million dollars to trade (after ofcourse basic training and under watchful expert eyes)

what a series this is! what an experiment it turned out to be!

every novice, ambitious (& even others) must watch these. all tensions and emotions and dilemmas and triumphs etc are beautifully (and at times in raw ugly manner) exposed!

watching these and other videos will add to any trader's learning curve.

enjoy.

http://www.youtube.com/watch?v=v6ciY8u04Kk

http://www.youtube.com/watch?v=ML4ObTeYLhg

http://www.youtube.com/watch?v=pWkzAvE5aQQ

training, not just education

"(trader's development).....is typically a lengthy one

and involves numerous setbacks

as well as milestones.

what sustains the growth process

is a very strong interest in the performance field

and a learning process that nurtures continued motivation

and a sense of growing mastery.

talent and interest will not turn into expertise

if they are not channeled into ongoing learning,

review of performance,

and efforts at improvement.

this is why traders require training

(like a physician or Olympic athlete)

not just education."



-Dr.Brett Steenbarger
Author of The Psychology of Trading

3 levels of trader training

there are three levels of a trader's training.
--
at first level
a budding trader is supposed to
learn the technique of
(1) trading
(2) consistently / repeatedly
(3) with tamed fear
(4) with control over the trade
(5) with cool head
and
(6) profitably
(7) with surety to a reasonable degree!
--
only
after this
the trader reaches
level two of training.
--
in this second (advance) level
he needs to find
safe and effective ways
to leverage
his
proven technique
to build his networth!
--
in the third level
the trader
has to learn to manage
his millions
to keep gliding
like an eagle high in the sky
without much fluttering of wings!
--

cost of training

do u have any idea

how much does it cost to do MBBS these days?

how much does it cost to do B.Tech. from a good engineering college?

what does it cost to do an MBA from a top management institute?

how much does it cost to get a pilot's license from a flying school?

any idea how much you need to shell out

to become a trained

"qualified"

experienced

professional

stock trader?

it is, in my opinion

one of the best

and yet

the cheapest

professions on earth!

provided you are willing to learn

at the cost of

every drop of sweat

and blood!

emotions,inexperience& trained gut (words from masters)

"there is a big difference

between trading emotionally and trading from your gut.

...trading emotionally means reacting to fear and hope, which can destroy your trading decisions.

...trading from your (trained) gut is different.

inexperienced right-brain traders are susceptible to acting on ideas

based on feelings drawn from erroneous principles

because they have not sufficiently trained their right brain in proper trading principles.

they have not yet supplied the right brain

with enough of the raw material required to make proper judgments.

for this reason, the gut reaction of the novice trader will often be wrong."

- Curtis Faith