- 1998: Volume 7, No. 6 Trader's Coach

Dear Coach:

I have been attempting to trade from my strengths and work hard on my weaknesses at the same time. What I'm finding is that my results are very mixed. Would I be better off to stay away from the areas where I'm weak altogether or should I continue to try to improve in those areas?

In the Middle of the Road

Dear In the Middle:

Sing this to music: "You gotta accentuate the positive! Eliminate the negative! And latch onto the affirmative and don't mess with Mr. Inbetween!"

Dear Coach:

I used to trade more from my intuition and I was making money, but I wasn't enjoying my trading. Then I found that what I really enjoy is highly sophisticated technical analysis and mechanical trading. Unfortunately, I don't seem to make anywhere near as much money this way. I'm still in the game and enjoying it more, however. The problem is that my wife liked things the way they were and I need to have an outside opinion.

Mechanical Man

Dear Mechanical:

You have to decide why you are in trading. Is it for money or excitement? If it is to make money, find another way to get excited. But if it's to get excited, you'll have to find another way to make money.

Dear Coach:

I have been paper trading for nearly seven years while I have been accruing enough savings to actually trade. During that time, I have made a fortune on paper. In fact, if I used the system I developed the way it is designed to be used, I will be able to live very comfortably on my trading earnings. However, now I'm too afraid to pull the trigger . I've read dozens of books on trader psychology, but nothing seems to work. Can you help me?

Virgin Trader

Dear Virgin:

Try simulated trading for awhile with a company that permits you to do everything except use real money. After a month of this, if the results are still the same, start trading by being very risk-averse. And don't worry, the market will still love you in the morning.