"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledg

We consider these to be the domain of experienced traders only, particularly as they are leveraged products which work both ways – they have the potential to magnify losses as well as gains.

We suggest that traders should learn how to successfully trade stocks profitably for a few years first – to master their skills in analysis, money and risk management – before you consider trading leveraged products.

It was with great concern that we received the following from one CFD trader this week:

“Hi,

I have decided to stop trading for 6 months due to "blowing out" my CFD trading account through some poor position sizing and risk management. Nothing I couldn't afford to lose, but I can't afford to lose any more.

As such - I wish to remove all possible trading distractions and hence I request to cancel my subscription as per your one month notice policy. I liked the newsletter and was considering signing up for Boot Camp, but I am afraid I no longer have the funds to trade and really need to reset.

I can see now why CFD's are not much better than poker machines for those people who understand the odds against putting hundreds of dollars into a poker machine and don't play them. (Like myself)

CFD's seemed like a good way to trade on a small account ($5K), but the ease of trading, the commissions on trades (I spent $1000 on commissions when I totalled it all up last week - 20% of my account), the large share parcels on small stop/losses, slippage from gaps all contributed.

The major factor though was some false confidence that I thought I knew what the market was going to do next and so what I thought was trading was probably more punting. In addition, some seminars, trading books, newsletters and software packages added another $5K to the losing experience.

I have decided to step away from trading for 6 months (I have to – my wife won't give me any more of our holiday savings at the moment) - save some capital and re-launch with some education... I will keep an eye out on your web site for the next Boot Camp later in the year.

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PS Thanks again for your interest which I do appreciate - you are no doubt extremely busy… to take the time to personally respond for a $30/mth subscription cancellation email has been one of the positives in my current trading career to date. I look forward to joining you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

Its times like these that traders have to make the decision to quit and walk away completely …….. or pull themselves away from physically trading, consider what they did, what lessons they learnt, then very importantly seek out the education to put themselves back on track .

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a cornerstone to trading and investing success. Over the past year we have particularly come to appreciate the coaching work of Catherine in helping traders around the world understand themselves better, set goals and strive to achieve more.

Following up on John’s suggestion for an article about the “….. challenges for new traders, psychology and CFD's”, we invited Catherine to comment on John’s situation from her perspective. We thank her for her reply:

Dear John

Ouch! My heart hurt when I read your story. It reminded me of two famous quotes:

“Men are disturbed not by things that happen, but by their opinions of the things that happen.” Epictetus (55-135) and

“Failure is the opportunity to begin again more intelligently.” Henry Ford

It's painful to see someone withdraw from trading or any game due to some poor decisions and lack of knowledge.

The way I see it is if you could actually attend Boot Camp and stay with the newsletter, you could not only turn your trading around with time, but also your esteem, confidence and life in general.

The following is from Robert Kiyosaki, who literally slept in his car after his first business failed and before he wrote his best selling book ‘Rich Dad, Poor Dad’:

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledge

I can see now why CFD's are not much better than poker machines for those people who understand the odds against putting hundreds of dollars into a poker machine and don't play them. (Like myself)

CFD's seemed like a good way to trade on a small account ($5K), but the ease of trading, the commissions on trades (I spent $1000 on commissions when I totalled it all up last week - 20% of my account), the large share parcels on small stop/losses, slippage from gaps all contributed.

The major factor though was some false confidence that I thought I knew what the market was going to do next and so what I thought was trading was probably more punting. In addition, some seminars, trading books, newsletters and software packages added another $5K to the losing experience.

I have decided to step away from trading for 6 months (I have to – my wife won't give me any more of our holiday savings at the moment) - save some capital and re-launch with some education... I will keep an eye out on your web site for the next Boot Camp later in the year.

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PS Thanks again for your interest which I do appreciate - you are no doubt extremely busy… to take the time to personally respond for a $30/mth subscription cancellation email has been one of the positives in my current trading career to date. I look forward to joining you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

Its times like these that traders have to make the decision to quit and walk away completely …….. or pull themselves away from physically trading, consider what they did, what lessons they learnt, then very importantly seek out the education to put themselves back on track .

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a cornerstone to trading and investing success. Over the past year we have particularly come to appreciate the coaching work of Catherine in helping traders around the world understand themselves better, set goals and strive to achieve more.

Following up on John’s suggestion for an article about the “….. challenges for new traders, psychology and CFD's”, we invited Catherine to comment on John’s situation from her perspective. We thank her for her reply:

Dear John

Ouch! My heart hurt when I read your story. It reminded me of two famous quotes:

“Men are disturbed not by things that happen, but by their opinions of the things that happen.” Epictetus (55-135) and

“Failure is the opportunity to begin again more intelligently.” Henry Ford

It's painful to see someone withdraw from trading or any game due to some poor decisions and lack of knowledge.

The way I see it is if you could actually attend Boot Camp and stay with the newsletter, you could not only turn your trading around with time, but also your esteem, confidence and life in general.

The following is from Robert Kiyosaki, who literally slept in his car after his first business failed and before he wrote his best selling book ‘Rich Dad, Poor Dad’:

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledg

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PS Thanks again for your interest which I do appreciate - you are no doubt extremely busy… to take the time to personally respond for a $30/mth subscription cancellation email has been one of the positives in my current trading career to date. I look forward to joining you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

Its times like these that traders have to make the decision to quit and walk away completely …….. or pull themselves away from physically trading, consider what they did, what lessons they learnt, then very importantly seek out the education to put themselves back on track .

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a cornerstone to trading and investing success. Over the past year we have particularly come to appreciate the coaching work of Catherine in helping traders around the world understand themselves better, set goals and strive to achieve more.

Following up on John’s suggestion for an article about the “….. challenges for new traders, psychology and CFD's”, we invited Catherine to comment on John’s situation from her perspective. We thank her for her reply:

Dear John

Ouch! My heart hurt when I read your story. It reminded me of two famous quotes:

“Men are disturbed not by things that happen, but by their opinions of the things that happen.” Epictetus (55-135) and

“Failure is the opportunity to begin again more intelligently.” Henry Ford

It's painful to see someone withdraw from trading or any game due to some poor decisions and lack of knowledge.

The way I see it is if you could actually attend Boot Camp and stay with the newsletter, you could not only turn your trading around with time, but also your esteem, confidence and life in general.

The following is from Robert Kiyosaki, who literally slept in his car after his first business failed and before he wrote his best selling book ‘Rich Dad, Poor Dad’:

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledg

Following up on John’s suggestion for an article about the “….. challenges for new traders, psychology and CFD's”, we invited Catherine to comment on John’s situation from her perspective. We thank her for her reply:

Dear John

Ouch! My heart hurt when I read your story. It reminded me of two famous quotes:

“Men are disturbed not by things that happen, but by their opinions of the things that happen.” Epictetus (55-135) and

“Failure is the opportunity to begin again more intelligently.” Henry Ford

It's painful to see someone withdraw from trading or any game due to some poor decisions and lack of knowledge.

The way I see it is if you could actually attend Boot Camp and stay with the newsletter, you could not only turn your trading around with time, but also your esteem, confidence and life in general.

The following is from Robert Kiyosaki, who literally slept in his car after his first business failed and before he wrote his best selling book ‘Rich Dad, Poor Dad’:

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledg

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledge. Knowledge is fundamental to winning in any game. By allowing yourself the opportunity to attain more knowledge, you then have the opportunity of turning your game of trading around.

Success is the goal of any trader in the market with visions of increased income, ever increasing capital and a lifestyle to their making.

By definition, success is the condition or fact of achieving the desired objective. It’s purely about achieving your target, objective or intention. Success is an extremely personal state of being.

When you started out trading, you had a target that you wanted to reach, It was your personal goal. Okay, so on this occasion you have experienced the opposite to success, a ‘learning experience’ that unfortunately is more frequently labelled failure.

Congratulations! Why? Because you have discovered what didn’t work and therein lays a pot of gold. Your ‘learning experience’ is something of incredible value. Embrace it!

Failure is often the doorway to success – dependent upon what you do with it. Ceasing to trade is admirable and I really acknowledge your action of no longer trading and taking the time to reset at this point in time.

Total withdrawal does not support you nor get you any closer to fulfilling your original intention.

Most of us withdraw from an area after a learning experience because contact with the area that we didn’t achieve success in (be it trading, relationships, business or health goals to name a few) causes us pain and discomfort.

The more Present we are with something or someone, the closer we are to it. The more withdrawn or Absent, the further away we get. After a learning experience it is paramount we draw closer to the area, embrace it, get really Present – be there!

Why? So you can extract a wealth of wisdom, correct on and add to some of your existing knowledge.

Use your innate resilience to be Present and capitalise on what you have already spent in losses, commissions, courses and software plus the time, energy and attention that you have invested to date.

You have already started on laying a foundation and now that foundation just needs some work. Continue to invest in yourself and your education.

And finally, here’s another secret that all the successful people I have worked with have as part of their fundamental philosophy; take on the mindset of an apprentice. Acknowledge that there is much to learn, much that you don’t know. Allow yourself to make mistakes – manage your risk and grant yourself the time necessary to work toward a level of mastery.

Here is to your capitalising on your knowledge and learning experiences to date. I wish you every success John, both in your trading and personally.

Best regards
Catherine Taylor