Why the world’s best trading strategies and tools fail to bring success

...and what you can do about it.

Well, this phenomenon has been proven many times over.

Take Richard Dennis and his partner William Eckhardt, for example—they conducted an experiment in 1983 and 1984. They recruited beginners through newspaper ads, trained them for about two weeks, and gave them actual capital to trade. In theory, everyone should have been successful.

But what was the problem with those who failed? They didn’t follow the rules.

But if you have a tested, successful system, why do some people still fail to follow the rules?

First, there’s Hope:

• Hoping the market will turn around when it’s already deep in the red.

• Hoping a larger profit target will be hit.

• Hoping for an even better entry point.

Then there’s the Psychology of it all:

• Fear of the Stop-Loss: You kill the trade prematurely.

• Fear of another loss: You become "trigger shy" and don’t execute the trade.

• Greed eats brain: You let the trade run too long and turn a profit into a loss.

Of course, I could add 50 more lines to this. Humans are complex; we plan, and God laughs at us. At least, that’s how it felt to me back when I was still searching for my trading "luck."

You see, my point is that no system in the world can simply conjure up discipline or psychology out of thin air. That is as certain as the fact that I have to pay taxes and will one day kick the bucket.

But there is a "solution" - or rather, two.

Warning, this is going to hurt:
Find another hobby. If you don’t have the discipline, or aren't WILLING to acquire it, you’d better clear out before you gamble away your entire fortune. And by the way: Prop-trading firms like TopStep, TradeDay, etc., are just sucking money out of your pocket by burdening you with even more rules (which, incidentally, are totally unrealistic). They do this, of course, to keep taking your money for new accounts and "resets." Welcome to the "Trading Industry".

Allow me one more remark: Why does TopStep always show the winners cashing out $10K, $50K, and more, but never show the 90%+ losers who bring TopStep MILLIONS - or rather, the traders who lose those millions? Turn on your brain and think about that for a second.

OK, after that cold shower, here is the real, realistic solution that can transform you into a successful trader:

Create a strategic plan to get rid of bad habits like greed, fear, and overconfidence. In the military, for example, you learn to follow a procedure (a trading system) with discipline and to listen to and obey orders (rules). If you don't do that in combat, you’re dead faster than you can say "Stop-Loss."

And how do you do that without joining the military?

You find a coach who has crawled through all the crap and has the experience themselves. Someone who knows what they’re talking about and how to solve the problem because they’ve lived through "combat" and survive the trading war day after day. And just so you know I’m not just blowing smoke: my nearly 1,000 posts on TradingView.com alone and my 30+ years of trading experience are proof of that.

Suppose you chose me as your coach - this would be my "drill" to turn you into a successful trader:

1. Trading System: Review and learn it.

2. Controlling Tools: Implement them (planning, execution, result monitoring).

3. Reflection: Analyze the trades and your behavior.

4. Correction: Adjust and optimize.

All you need is a machine that makes "small rolls." Once you can consistently bake small rolls, we can start planning the bakery.

Think seriously about what I've written here. And if you feel like it, feel free to send me your thoughts, wishes, and fears in an email (mytrading@howtochart).

I look forward to an exciting exchange with you.

Emilio