The Truth about Trading
People often ask me to autograph One Good Trade, which I do with gratitude. I receive appreciative e-mails daily about how my work has helped traders, which makes my day. When I was in Singapore, I literally couldn’t pass through the lobby of my hotel without someone recognizing me and asking to take a picture. Perhaps the large billboards of Jim Rogers and me presenting at a big conference was the cause. SMB recently had to shop for a new trading space in NYC for a joint venture (JV) with a larger firm. Apparently, very few traders missed Wall Street Warriors, and some of our other appearances, as they easily recognized Steve and me when we walked onto a trading desk looking to sublease space. I have been introduced as a “trading expert” to multiple packed-house lectures. If you Google my name, you can find some pretty nice things said about my writing and the contribution my firm has made to the trading community. All of this makes me very uncomfortable in the sense that some might think that I, and people like me, have mastered the trading game. I haven’t. I never will. This is impossible.
What you can learn from me, my firm, and The PlayBook, and the reason I have shared so openly about the personal events described earlier, is the truth about trading. These truths often escape what I call The Financial Media Entertainment Complex and leave many new traders misinformed. You must get better every day. Even if you do become a great trader, you’ll sometimes face personal struggles and need a timeout. When you become a successful trader, this is not the end. There is no trader destination. Trades will stop working, and you will have to find new ones that do work. Seven-figure traders can walk around in a frustrated daze desperately searching for a return to just a profitable month. Trading is a sport of survival, reinvention, and perseverance, even for the successful trader. That is why I shared the earlier personal anecdotes. That is why it is so important for each trader to develop his or her own PlayBook. This is what I hope you learn from this book.