{"id":53018,"date":"2016-05-08T02:40:00","date_gmt":"2016-05-08T09:40:00","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=53018"},"modified":"2016-05-08T02:43:15","modified_gmt":"2016-05-08T09:43:15","slug":"profitable-trading-skills","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/ask-al\/profitable-trading-skills\/","title":{"rendered":"Ask Al: Profitable trading skills — how long?"},"content":{"rendered":"

BPA trading room Q&A: March 30, 2016<\/h2>\n

Question: How long would you suspect it takes to build a sufficient skill to become consistently profitable?
\n Audio duration: 4min 45secs<\/em><\/p>\n

 <\/p>\n

Trading skills for consistent profitability<\/h3>\n

\"LearnThat is such a personal issue. It took me 10 years to figure it out.\u00a0 I\u2019d come out of a medical training where the whole design of medical school is you\u2019re learning from honest people who know how to be doctors and they\u2019re trying to teach you what they know.\u00a0 But at the time in the \u201880s when I started out, the only people who were talking about how to trade and the only people trying to teach you how to trade were liars and thieves.\u00a0 There were no honest people.\u00a0 Now, I think there are some honest people out there, but back then — if you were around trading 30 years ago, you\u2019d be shocked at just how dishonest it all was.<\/p>\n

Anyway, I came from a medical school model where if somebody\u2019s offering to teach, you assume they\u2019re honest, and it just took me years to discover that the world was just filled with dishonest people.\u00a0 And it also took me years to discover that even honest people were not giving ideas that were not particularly helpful or profitable.\u00a0 And eventually I just started looking at charts, and after I started doing it — it probably took me a few years to become reasonably, reasonably, consistently profitable.\u00a0 But I\u2019m trying to make it easier for everybody else.<\/p>\n

\u201cThe Greatest\u201d<\/h3>\n

\"MuhammadMuhammad Ali — I don\u2019t know if you know who he is, but to me, he\u2019s probably the most admirable person in my lifetime.\u00a0 I know you can point to John F. Kennedy and I go back to Truman.\u00a0 Truman was president when I was born.\u00a0 You could point to anybody — Nelson Mandela, Martin Luther King. Muhammad Ali<\/a>, I really admire the guy–he did some really difficult things.\u00a0 But anyway, now he\u2019s incapacitated.\u00a0 He\u2019s got really bad Parkinson\u2019s from a career as a boxer, and if you listen to him talk, which he rarely does anymore, he talks about — he\u2019s a Muslim.\u00a0 He talks about his life and how important it is to try to make peace with his God, and try to be very helpful and kind, and that\u2019s how I feel at this point in my life.\u00a0 I have enough money and what do I want to do that makes me happy?\u00a0 And one of the things that I want to do is try to help people get ahead as traders.<\/p>\n

There\u2019s a lot of, I think, appeal to being a trader.\u00a0 And I want to see people happy; I want to see their lives better.\u00a0 And so it makes me happy to do whatever I can to just try to help traders become consistently profitable much faster than it took me to become consistently profitable.<\/p>\n

Building trading skills<\/h3>\n

But going back to your question, \u201cHow long does it take to build sufficient skill to become consistently profitable?\u201d\u00a0 Some people do it in six months to a year.\u00a0 I\u2019ve gotten a lot of emails from traders who have done very well inside of a year of two, I guess.\u00a0 But other traders, it might take a few years.\u00a0 A lot of it has to do — I mean, it has entirely to do with your personality.\u00a0 How willing are you to give up your vices and become objective?\u00a0 How willing are you to start looking at the chart and saying, \u201cI don\u2019t care.\u00a0 The market\u2019s going down– I got to sell.\u00a0 I don\u2019t care if I think it should go up.\u00a0 I don\u2019t care if coming in to the day on the news they said it was going to go up today.\u00a0 I don\u2019t care.\u00a0 It\u2019s going down–I got to sell.\u00a0 Or it\u2019s going up–I got to buy.\u00a0 I don\u2019t care if it\u2019s not supposed to go up.\u00a0 It\u2019s going up–I got to buy.”\u00a0 Or if it\u2019s in a trading range<\/a>.\u00a0 “I don\u2019t care if it looks like it might go down forever.\u00a0 This is trading range price action.\u00a0 It\u2019s going to go up.\u00a0 I don\u2019t care if it\u2019s going up.\u00a0 This looks like a lousy rally — it\u2019s going to go down.\u201d<\/p>\n

Trust your objectivity<\/h3>\n

It takes a while to trust your objectivity, but that\u2019s one of the most important things to develop in becoming a profitable trader.\u00a0 And once you get to that point, boy, life becomes really, really easy.\u00a0 To me, it becomes really easy.\u00a0 It\u2019s just easy to do the right thing, trusting that what you\u2019re doing is logical, and if you do things that are logical and if you manage your trade well, you\u2019re always going to do well.\u00a0 You\u2019ll be just fine.<\/p>\n

Closing market review<\/h3>\n

All right, so I hope everybody has a good night.\u00a0 Tomorrow, I would not be surprised if it gapped down.\u00a0 We\u2019ll probably trade below today\u2019s low tomorrow and trigger the sell.\u00a0 Today\u2019s a bear reversal bar after a gap up above last week\u2019s high in what I think will ultimately be a trading range.\u00a0 So I think we\u2019ll trigger the sell tomorrow, either by gapping below today\u2019s low or opening somewhere in today\u2019s range and then trading below yesterday\u2019s low.\u00a0 Okay?\u00a0 Hope everybody has a good night. <\/p>\n

Al Brooks<\/em><\/p>\n

Information on Al’s Online day trading room<\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

BPA trading room Q&A: March 30, 2016 Question: How long would you suspect it takes to build a sufficient skill to become consistently profitable? Audio duration: 4min 45secs   Trading skills for consistent profitability That is such a personal issue. It took me 10 years to figure it out.\u00a0 I\u2019d come out of a medical […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-53018","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/53018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=53018"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/53018\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=53018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=53018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=53018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}