on your home, and buy, buy before it's too late. But the price goes down, not up.

You call your market guru and he says, "Great! That's what we hoped for: the opportunity to buy at a better price."

Your collar is already too tight. You have invested everything you could afford and more than that.

The price keeps going down and you already need some extra money.

You sell your futures contracts to pay off a loan to a bank. Depression sets in, you wonder what to do with the little money that's left.

You think you may have misinterpreted the counselor's instructions. After all, your consultant is a certified specialist in the commodity market and must know what he is doing. His reports still show summaries of how much money his clients have made. Perhaps you bought at the wrong level and you need a different, more thorough consultant. You are worried, you have a desire to change the strategy and tactics proposed at the seminar.

You begin to read a large number of books, including such as "Wizards of the Market" and "New A couple of stories tell of traders losing money when they trade without a system and when they jump from one trade to another without a specific buying and selling strategy.

"Here's the root of the problem!" you decide, and find a system that has been in use for over 15 years and has produced an average annual return of the aforementioned 30 percent per annum. You know that with a system like this you can't go wrong.

So, you get started! As soon as you start using the system, one way or another, in the first year it brings losses. However, you continue to trade. You know that millions of dollars are made every day in futures, and yet you only need a fraction of it.

You hear about spreads, where you can trade even more profit with more limited risk. You are now older and wiser, so you decide to take less risk and have more certainty.

You are now more picky and choose systems with only logged records of the results of trading positions. You join the 3000 club to sympathize with the mostly naive and constantly losing.

SWING

You have become more careful and compatible with your trading. The only problem is that you are not making money all the time, you are on a swing of losses and gains. The only constant part of your trading is the percentage that you regularly spend on commissions.

Your script has led you to believe that trade records, studies, and indicators are mostly a sham. There is no way to separate good advisers from bad, honest from dishonest. You're sure there's more cheating per square foot in this business than there is with the mafia. Therefore, you temporarily refuse to trade, leaving no hope of becoming a trader.

However, you have to put your savings somewhere and want more than interest on a CD or a passbook. You decide to join trading pool 5, where you think there is less risk and maybe more competent advisors. You choose a pool that demonstrates reliability in the form of a series of winning years with little decline. Newsletters may deviate from accuracy in records, and pools are better regulated.

Unfortunately, the situation in the economy is changing, the market reacts to this change, of course, negatively. The pool is failing. This is his first losing year in ten years.

You come to the idea of ​​returning to the position of an active trader. Seesaw ride again: you decide that no one but you will take better care of your money. Everything returns to its place. You don't even think about the call you can make to Kansas.

WORLD OF TRADE

At each stage of trading, you decide to be extremely careful, carefully plan your trade, listen only to the best forecasters, work exclusively with proven systems, turn to the most outstanding and bright minds. In short, use only the best available plans. However, for various reasons, nothing works the way it was supposed to. Welcome to the wonderful world of futures trading where nothing happens according to expectations! You are drowning in forecasts for the economy, for interest rates, for gold, for foreign exchange, but rarely any of these forecasts are accurate.

Subscription newsletter writers brag about sensational trading results, although only a few of their readers have renewed their subscriptions.

Economists and consultants who speak at FNN and seminars periodically explain clearly and convincingly why certain market events are inevitable. But the predicted events either do not occur at all, or come much later than expected.

In fact, nothing in the world of economics or trading works exactly as predicted, despite plausible ideas, computer-tested models, economic wisdom, carefully chosen trading techniques, documented trading histories, common sense approaches.

Some traders make profit, make money from time to time. In principle, some of them have stable positive results for more than a long period of time. Moreover, despite the events taking place far from being in line with market forecasts. If you doubt the latter statement, then refer to the forecasts published in periodicals for Last year. Read what the authors of the articles predicted to happen this year. Now ask yourself how valuable those predictions were. Make sure you read the original: the review and the informational message may differ significantly.

Remember how, during the 1992 presidential campaign, X. Ross Perot "guaranteed" us that there would be a catastrophic banking crisis and we would see the fall of the FDIC (Federal Deposit Insurance Corporation) during mid-December 1992?

Turn on the evening news. Experts seldom agree with each other on the assessment of the consequences of current events, much less than on the future.

Professional analysts constantly emphasize "I knew this was going to happen" because they understand how necessary it is for their business. Each of them understands that he must be at the very center of the situation, at the top of the markets, knowing what is happening and what will happen. After all, their competitors take the same deceitful positions.

Traders have their own reasons for hiding real results. They risk their reputation as well as the money they trade. They also don't want to look like the only losers when it seems like everything is going well for everyone around them.

Many traders still hope to discover the secret of predicting the future. They remain confident that a reliable system exists and that other people have found it. They keep looking for the financial "philosopher's stone" but never find it.

No one can say for sure when bonds will peak, or how far they will fall. Humans are unable to accurately predict the future. When I am given examples of successful predictions, I can respond by pointing out four or five unsuccessful ones. Moreover, both successful and unsuccessful forecasts will come from one analyst.

Once you give up hope of finding the right analyst, system, or any other source that can point you to the shortest path to wealth, you will finally begin to take control of your trading future. Вы поймете, что никто не "торгует" на market. Neither you, nor experts, nor "techies", nor those institutions with three-story computers. Nobody. We all trade in our own personal beliefs. Once you realize this truth, the world of trade will open before you

in a new light.

Trading is a psychological game. Economic, fundamental, mechanical, or technical strategies mostly don't work. While I was writing this book, it was reported in FUTURES magazine that out of 231 professionally managed funds, only 33 showed returns within six months. Only 3 out of 231, or just over 1%, showed an increase in assets of more than 10 percent 6This means that 87 percent had losses and only 1 percent made more than 10 percent in a year. Again, these are the results for the highest paid professionals who manage some of the largest public funds in the world.

They have the most powerful computers and have access to the most up-to-date and complete information about markets and events around the world. But markets are not computer models and cannot be understood by machines. There is a very easy way to know exactly when computers can become successful traders: as soon as they can tell a cat from a dog.

Trading in the markets provides fantastic opportunities for generating income. But at the same time, it is, for the most part, a career of self-expression that anyone can choose for themselves.

We understand that self-knowledge is the key to generating income and making decisions and applying strategies. We see that, in addition to monetary results, there is a benefit inherent in trading activities. A general approach to understanding the market requires strategies and tactics that allow us to understand ourselves as well as we understand the market.

We will see that the basic structure of the market is a mirror reflecting the personality of each trader. It is very important to reconcile your own identity (often hidden) with the structure of the market.

Our search for ways to success can be compared to the search for grains of truth. We are looking for them for one idea. An idea that can guarantee us that we will always win. I believe that the goals of our search can be summed up in five words: "Desire what the market wants." The goal is very simple, but not easy to achieve.

All our sorrows and losses have one cause. We cherish expectations that are not met with understanding. When we want what the market wants, we have no regrets. Thus, bringing your intentions in line with the intentions market, we will never have any unrealistic