I have a dog and also a cat.
I live in a fairly rural part of an island where there is
an abundance of lizards.
Both my dog and my cat like to catch lizards.
Both are very dedicated to the task and spend many hours
each day in this seemingly endless pursuit.
As I have said, both the dog and the cat have the same
goal, and yet they approach the task in very different ways.
Ted, my dog, rushes out as soon as the door is opened, tail
wagging, barking at full cry and starts his ritual hunt. If
he can actually see a lizard he rushes straight after it,
but of course the lizards know he is coming almost before
he has left the house, and they retreat in a flash to their
hideaway.
Undeterred, Ted continues his energetic search of all of
the nooks and crannies in which he once saw a lizard.
Rarely if ever does Ted catch a lizard, but he loves to try.
My cat, (no name) could not be more different from Ted if
he tried.
Cat never rushes out of the house, but prefers a leisurely
stretch, a slow but scrutinizing stroll to his favourite
vantage point where he makes himself very comfortable and
then he just sits still, sometimes for hours.
Every once in a while, an unwary lizard moves within
striking distance of what appears to be the statue of a cat
and in an instant, Cat has added another lizard to his long
list of trophies.
Cat is a formidable lizard hunter.
So what has this to do with currency trading?
Aside from being a professional forex trader, I also sell
copies of my forex trading system, The Amazing Stealth
Forex System and I offer a free unlimited email support
facility to all of my purchasers.
I receive, as you can imagine, a great many questions and
comments with two particular themes being received more
often than any other.
One is in relation to my thoughts on what "the big dogs"
are doing and the other is why the system did not
"recommend" any (or many) trades Yesterday - Last night -
This morning - or whenever the particular trader in
question wanted to trade but did not get a system trade set
up.
My answer to the first question is usually similar to this:
I really do not worry about what the "Big Dogs" are up to
as it will not affect my system trading, but if you really
want to know, you can look them up for free at the
"Commitment of Traders" (COT).
And to the second my answer is:
Even a great forex trading system like The Amazing Stealth
Forex System can only alert you to high probability trades
if there are any. The system highlights the opportunity, it
does not control the market.
The most successful traders are the ones who have learned
to have the patience and self discipline to watch and wait
for the right opportunity…..and then they strike.
It was whilst idly watching both my dog and cat that I
realized that if they were both traders, the attributes of
the Ted would put him in the category of the 95% of traders
that lose money.
Ted is all enthusiasm with no patience. Lots of energy but
no self control. Eager to the task but not prepared to
watch and wait.
Whereas the attributes of Cat would easily place him in
the top 5% of traders that make money.
He has a method that works and he sticks to it. Cat is
infinitely patient and has fantastic self discipline. Cat
knows that it is pointless to make a move until the
conditions put the odds firmly in his favour. When
everything lines up, Cat strikes.
For this reason, I highly recommend that you stop trying to
trade like a Big Dog and consider trading like a Cat.
----------------------------------------------------
Martin Bottomley is co founder of Stealth Forex Trading
Systems as well as being a successful full time forex
trader. For more information please visit his website at:
http://www.stealthforex.com
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