I’m sure that most of you will already be aware of the number of people out

there who are willing to take your money from you and give you little to nothing in return. This is no different

in the world of trading.

But for all the fakery out there, the number 1 trading CON that stands

head and shoulders above the rest - the Commitment Of Newbies.

Newbies tend to come in looking for a system or method to trade rather than

to learn and hone their skills.

With such an easy parallel drawn between the outcome of single events

being winners and losers, newbies frequently get sucked into the “well this doesn’t work” line of thinking

when things aren’t going well.

The simple fact that they’re usually trading either to make money or to

conquer the markets, motivates them to discard whatever system they’re

currently looking at and go on the hunt for another.

their drive and short-term results-based conclusions demand them to do so in order to find success – to find the

key to unlock untold riches that the markets promise.

The trouble is, often people don’t understand the root causes of failure

and because of this, their commitment isn’t always steadfast.

What a newbie tends to do when they try a system and lose money, is blame

the methods and systems they’ve utilized instead of asking questions

about their own level of application.

Over time and having spent lots of money, they can become bitter over having had their money taken from them by unscrupulous vendors and this only serves to further mask the

real issues they face.

The way some people go about learning to trade could be best

described as hobbyist in nature. Frequently they achieve a high level of

knowledge, understanding and expertise in the trading world.

But all too often, you’ll also find a lack of professional business-like

application that’s needed to be successful in the long run.

How a newbie starts out in their trading is indicative of whether they

have a chance of success in this business.

A newbie who is organized, motivated and committed is clearly going to have

a much better chance of making it than someone who is not.

Someone who has a desire to be a success, but fails to get to grips with measurable performance is always

likely to struggle.

The hobbyist newbie traders have other traits that make them stand out

too. They want to learn and tend to use the time they have for trading to investigate new methods, strategies, indicators and innovative software

platforms.

They spend less time on what they themselves are doing and more on

what everyone else is doing. They give over some of the time they have available to trading, rather than

making time for trading.

When they face set-backs, they take some time away from the markets instead of redoubling their efforts.

They frequently trade based on subjective opinions rather than facts.

They fail to define and work to a structure - i.e. they haven’t got a trade

plan.

The language a newbie trader uses in their self-talk is usually non-committal too. When they want to do something, they “try” or “have a go” rather than

“do” or “assess”.

They figure that the market “should” do something but when it looks like it might not, they “hope” or “wish” that the market will turn around and not

hand them a loss.

A professional however, is more likely to readily accept the loss and use the

valuable information the market is giving them relative to their original

expectations.

The type of chatter that goes on inside a trader’s head can have a huge influence on whether they are

successful or not. In fact, the same can be said about success and failure in

any walk of life. Using non-committal language breeds non-committal

actions.

The biggest trading CON out there is the commitment of newbies. However

enthusiastic an individual is, if they don’t have the commitment needed to

act in a professional way, they are likely doomed to failure. But it’s about being committed to the right things.

So ask yourself whether you avoid spending time on the most important aspect of all – your personal trading. If

you do, there’s a danger that you’ll become a hobbyist trader.