INSIGHTS INTO THE MINDSET OF SUPER TRADERS – Part 1
“Many would-be traders are afraid to take the profession
seriously. They dream of making huge riches, but they aren't willing to put in
the time and effort to make their dreams come true.” – Joe Ross
Name: Lan Turner
Date of birth: February
5, 1964
Nationality: American
Website: Lanturner.com
Career:
Lan Turner is a proficient public speaker, publisher, and an
author. Being a professional stocks, futures and Forex trader, he’s had more
than two decades of experience in financial indsutry. Lan is renowned for his seminars and trading ideas, having
presented them in the US and other countries. He’s the founder and CEO of
Gecko. For many years, he taught finance at Utah State University. He designed
Track ‘n Trade and Trade Miner in 1998. He’s also the president of PitNews
Press and editor-in-chief of PitNews Magazine.
Insights:
- Success in other
fields doesn’t automatically translate to success in trading. Lan was
successful as a distributor of computer hardware, and when he first
invested his money the markets, he made substantial gains. He thought he
was good until he lost almost all the money. No matter you level of
education or the kind of job you’re doing, you still need to learn the art
of trading because it’s a different world entirely.
- Gamblers lose
their money right away or first gain money before they lose it all. When
gamblers make money, they think they’re good just before the markets prove
them wrong. Good traders may also lose money before they make money (or
make money before they lose money), but they make gains and losses based
on their trusted trading methods. In addition, the losses have minimal
effects on their portfolios while the profits make their account grows;
though not be leaps and bounds, but slowly and gradually.
- When the going
was tough, Lan didn’t quit because he discovered he loved trading. You
can’t last long in the markets if you don’t love trading with passion.
- If you’ve become
a success trader, how can you help others to become successful? How can
you help other avoid the pitfalls that affected you badly in the past? Lan
has found his secrets to success in the markets and he’s doing his best to
help other become successful through his products and services. Honestly,
his products and services are among the best in the trading industry.
Please check his website in order to benefit from those products and
services.
- There are
trading concepts and principles that work. Some of them may already be
known by you or some of them may come to you as a surprise. The knowledge
you’ve is useless unless you use it to improve your life – hence your
trading results. Lan Turner is an exponent of recurring trends and market
cycles, which are genuine and powerful. For example, if you can know that
USDJPY tends to rally within certain period of every year, with about 80%,
90%, 95% or even 100% accuracy, for the past 10, 12, 14, or more years,
you can take advantage of that knowledge.
This is one simple idea that can be used to make millions/billions
in the markets when used properly and applied to other trading instruments.
Conclusion: It’s
sensible to take the right position in the right market, otherwise, things
mayn’t go as expected. Doing that is like we’re aware that a farmland is
infested with rodents, yet we plant peanuts in it. We need trading methods that
ensure everlasting safety of our portfolios. We want to take trades based on
the seasonal trends that have proven dependable in the past. Although past
results aren’t indicative of future results, they can give us the best insight
into the future. We wouldn’t want to speculate based on the things that have
proven to be flops in the past.
This piece is ended with a quote from Lan:
“If I only knew then, what I know now! Stop trying to
reinvent the wheel, just use what works!”
Source: www.tallinex.com
Learn from the Generals of the Markets: Market Generals
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