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1 pointA TRUE LIFE STORY OF A VETERAN TRADER We were in a midst of a popular monthly traders’ forum when an elderly man on a wheelchair was helped into the hall. The moderator asked us to stand up for the man, whom he called “a soldier on the battlefield of the financial markets.” As the forum was about to be concluded, someone suggested that we allow the professional on a wheelchair to give a short speech. A mic was given to him. He held the mic and said: “My fellow traders. Thank you for standing up for me, and thank you for giving me a privilege to talk in this forum. I started trading 12 years ago. And I am still trading. I will trade for as long as I breathe. I am one of the most popular Forex traders in this country. Sadly, the one who coached me for Forex trading stopped trading in 2008, because of subprime crises and market crashes. He lacked risk control skills. I pressed on, to become a regular columnist in a popular newspaper, writing about Forex trading on daily basis. I also provided trading signals for people, as well as trading my personal accounts. I have 2 powerful manual strategies that I use. I developed the strategies based on my many years of experience. Trainees who apply my strategies have been sharing wonderful testimonies since. A few years ago, I fell ill. Diagnosis revealed that I had cancer of the bone marrow. I required surgery in a foreign hospital. I gathered all the funds I could gather, and well-wishers and friends also contributed what they could. I was transported to a foreign country (I was already paralyzed). Luckily, the surgery was successful. I can say, partially successful, for the paralysis was partially corrected. I can now speak and use my hands. I can also stand up, but I cannot walk. While I was on a hospital bed and my legs were tied. I was trading profitably on mobile devices. I was even providing trading signals and mentorship to people online. Then, a client couldn’t believe I was providing services to clients on a hospital bed until we connected on Skype, doing video calls. I was seen trading on a bed, while I was strapped to the bed. Several months ago, I came back to my country, and I have continued trading, training and providing signals since then. [He burst into tears]. Traders. Let me tell you this. Online trading remains the best tool for financial freedom. Please do anything possible to become a winning trader. Look at my condition now. I am advanced in age. I can only stand up, but I cannot walk. I need crutches and a wheelchair to move about. Imagine. If I was someone who did 9.00 A.M – 5.00 P.M. work, what would be my lot now? My employers would have laid me off. If I was fortunate enough to get anything from them, it could have been exhausted by now. I would have become a beggar by now. Or what makes me special when compared to other handicapped persons who have now become beggars? Clearly, online trading makes the difference! Imagine. If I go to Mr. Henry to beg for $30, I would finish spending it. If I go to Mr. Johnson to beg for $20, I would finish spending it. If Mr. Johnson was kind enough to give me $20 three times. He would eventually stop giving me more money because he got his own responsibilities. He might not pick my calls again; or he would instruct his folks to tell me he is not at home, when I visit him next (to beg for money). This is a lesson you must learn. Please learn from my story. I trade on a wheelchair, and I make money from signals provision, coaching and trading. I can sustain myself, my wife, my 3 kids and my aged mother.” He dropped the mic. And the forum ended. I conclude this articles with the 3 quotes below: “You must be disciplined in following the plan of your trade religiously. Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include notes that will help you learn from the trade, reasoning what actually took place once you entered the trade. Explain why the trade was a winner or a loser. If you keep detailed records, you can learn from past trades and increase your chances of recognizing your strengths and weaknesses. Build on your strengths and stay away from trades you have demonstrated weakness in.” – Andy Jordan (Source: Tradingeducators.com) “Humans are an error based machine, we make mistakes and perfection is never really on our radar despite our best efforts. The realisation that mistakes are at the core of good trading is hard for many to accept as they are locked into the belief that you cannot make money if you get trades wrong. Fortunately there is no nexus between making money and being right. Many, many years ago i discovered that the fewer fucks I gave the more I made. To revert to a past life choice of mine – you could never be a fighter if your expectation was that you would never be hit.” – Chris Tate “Avoid illiquid markets. Be sure to check volume. How much is it on average and is it steady day after day. And perhaps the greatest lesson of all should you happen to leap before you look--never, ever trade on hope or stay in a trade based on hope. If you are wrong, get out. If you don't have the discipline to do that, you shouldn't be trading.” – Joe Ross