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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:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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: Tallinex.com
Learn from the Generals of the Markets: Market Generals
