A Firm Foundation

Maybe you recall the biblical story of the house built on sandy soil and the other build on a rock. There is a nice little children's song based on this idea. One line of this song says, "The wise man built his house upon the rock, house upon the rock, house upon the rock."

              Your Trading Must
              Be Built On Rock

Starting with a firm foundation to your learning and later trading sounds very reasonable doesn't it? Even so, most people never even consider this principle.  In fact, most people who want to trade the stock market go about haphazardly. Talk about risk! There is nothing riskier than investing or trading without a plan. Nothing  unusual or sinister about that... starting any business without a plan is the same thing.

I teach my students to set their finances in order, to never trade with money that is needed for ongoing needs. They learn to paper trade before ever committing money to the markets. My students learn to practice  trading on paper first, just like ground school. Once they can show that they know how to be profitable on paper, and then it's time to get in the real game. But, still there are advertisements all over the place claiming that someone will teach you the one secret of trading.

There is no one secret!

Look, if you are serious about making big money in the stock market then get serious about learning to do it right. You must be willing to follow the steps, willing to practice, willing to learn from others. Most importantly you absolutely must be willing to find and follow a plan!

What is a trading plan? Simply put, a trading plane is a set of guidelines and rules that help you to overcome the emotions of fear and greed when it comes to trading. Further, a good trading plan has rules that cover every possibility once you are in the trade. It is a road map to profits. Anyone without a trading plan is destined to eventually fail! 


Learn more about Dr. Cooper's Trading Plan in the OnlineOption Trader Manual