Description:
"God gave men two ends - one to sit on and one to think with. Ever since then, man's success or failure has been dependent on the one he used most." The secret of being a successful Couch Potato student is in knowing when to use which end. Unfortunately, when God created the two ends, he forgot to include instructions. That's why I've been writing my Couch Potato Trader column for the last six years and why I've compiled my wisdom into these hallowed pages. Trading is an equal opportunity vocation. It doesn't matter if you're Shaquille O'Neal or Mini Me, Fat Albert or Twiggy, Jack Welch or Jack Kevorkian. The point that I'm making is that trading is a skill that anyone (almost) can learn and have for the rest of your life. All you need is a computer, a little bankroll, a willingness to learn - and, of course, a teaspoon of common sense and a tablespoon of self-discipline. If you don't have these qualities, McDonalds is always looking for good people. Would you like fries with that? I was a rebellious kid (does that surprise you?). My parents wanted me to be anything with a tie - doctor, lawyer, broker, etc. I would go to any lengths to prove that I could be successful by using my head and not a three-piece suit. Me? In a tie? I get dressed up for two things - to marry people and to bury people (weddings and funerals). I did it my way. I learned - by reading, by listening and (unfortunately) by a lot of expensive trial and error. But I persevered and I made it. I'm not wealthy by financial standards, though I'm not worried where my next meal is coming from. Why? Because I've learned how to consistently take little chunks out of the market. Those who have attended my two-day advanced seminars, have an excellent grasp of these concepts. I've paid my dues. Hopefully, my dues will cover some of the mistakes you would otherwise make. Unfortunately, human natures tells us that, despite what you read, the lessons that you'll learn from are the most expensive ones. I'm often asked about my method of selecting trades and trading vehicles. Fortunately, I'm better at selecting trades than wives. Wives may come and go, but bills are always going to be there. So, unless you want to know how I pick out wives (which might be good for a few laughs), let's procees with the stock/index selection process. Actually, Lydia (my third) has been a blessing. I think I finally got it right. A Place To Start Examine the strategies in your arsenal. In this book, you'll find a variety of strategies - primarily non-directional. Ask yourself: Which strategies do you know thoroughly? Which strategies do you know how to enter and monitor? Do you know when and how to exit? Do you know how to fix the trade if it goes bad? Do you know when to cut your losses and move on? Each strategy has its own set of answers to the above questions. If you're confident that you can handle all of the above in one or more strategies, you're probably ready to proceed.
