Saturday, March 20, 2010

Dreams

"You know what, it doesn't matter if you're big or small, you've got to believe in yourself, believe you can do it and you've got to be able to dream the big dream." - Mr. Teo Ser Luck, Singapore's Senior Parliamentary Secretary for Community Development, Youth and Sports. Few thought it possible that tiny Singapore would win the rights to host the first Youth Olympic Games.

So, what's your dream?

Most traders have big dream when they first started out but somehow or rather, after a few months they ended up having nightmares instead. Dream is the driving force for anyone who aspire to achieve a goal that might seem impossible and full of obstacles.

I would suggest new traders to have smaller dreams instead in the beginning while working hard towards that big dream. Nothing comes easy and there's no free lunch.

Successful traders not only need to work hard, they need to work smart as well. They need to know when is the right time to trade and the right size to trade.

My new batch of students were very realistic when I asked them about their expectation, most had some experiences trading in stocks or Forex, having attended other courses and know how difficult it is to be a successful trader. They just wanted to learn how to survive and make a decent living.

It's an eye opener for them to see and learn how a real trader trades live in front of them. It's no doubt really stressful for me. I justify each of my trade with an explanation, the mistakes I made and the various emotions expressed especially the frustration when the trade goes against me. Most were stunt to see how I cut losses with such ease, something that is so difficult for them to do so.

I'm glad and happy to enlighten them on their new journey in life as most have quit their job to be full time traders. Their success will make my hard work worthwhile. I hope to guide them towards the big dream I have achieved long time ago.

2 comments:

siew said...

hi Fat,
I think Ok to address you as that I hope?

i wanted your advice. when you mentor that people starting out is there some terms of reference? in the realtionship. ie profit sharing , capital sharing etc. any details 50:50 , 60 : 40? please appreciate your insight, sir.

Fat88Trader said...

Hi Siew,

No problem, everyone address me as FAT, it's simple and easy.

There are many TMP out there, each have their own terms and conditions. Most would like to interview and know their potential traders before engaging them.

As for me, traders will need to come out with their own capital and the terms will be agreed upon with the individual trader whereby both parties are happy to work together on a win win situation.

Capital injection will come once the trader know how to trade.