Feb. 2006 SFO Magazine Cover

In 1999, it was Internet stocks. In 2002, it was the E-mini S&P futures. In 2004, everyone wanted the Russell futures, and 2005 was all about forex. Please, folks! Stop chasing the momentum! As someone who has been trading for 15 years, I’d like to offer a point of reason. If you feel like you need to find the next “vehicle” for your success, I have a better idea: Find the success first and then trade any vehicle. People spend too much time in the trading world focusing on upside potential and costs. It isn’t the vehicle or the potential that is going to make you successful, and it isn’t the costs that are going to keep you from being successful. Success comes from understanding how to trade and applying that knowledge to the markets. I make the case constantly to my subscribers that they’ll do better if they trade all markets.

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