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March 17, 2000

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GETTING AHEAD 

Last night I returned from nine days in paradise. In Belize, Central America, the water is clear and the color of translucent turquoise with miles of visibility for scuba diving. While the weather is a bit much for this freckled girl of Irish decent, the water is the perfect temperature for diving in no more than a swimming suit. Fine, white sand beaches seemingly extend forever. Or cabana is no more than 20 feet from the shore, where lazy waves lap rhythmically against the pier. Tiny seahorses cling to the vegetation in only a foot of water at the end of the dock.

Being in Belize, I spent time thinking about the way the country will be in 10 or 20 years, as the indigenous population struggles to get ahead and stressed out people with high power jobs and money come seeking a place to relax.

Of course, I considered the pros and cons of trading from this remote location, where I saw no computer stores or familiar brown UPS trucks. Lazy days of sunlight and tourism, tradewinds blowing in at sunset and a room with no television or telephone got me philosophizing about what it takes to get ahead.

At first, I pondered the sacrifices one must make along the way, spending hours and days working while others are playing. Then I admitted that it's really not a sacrifice, it's dedication to a goal.

All too often, traders (especially beginning traders) want to get to the high returns part of the job without doing the homework that's necessary to get there. They want to get ahead by coasting and it just doesn't work that way.

As I prepare for workshop sessions at several upcoming industry trade shows, I look forward to meeting with others who are pursuing the same goal I am: Taking more money out of the markets than we give back. Yet, I know from attending these trade shows over the last 20 years that thousands of people will be in attendance. All looking for the Holy Grail. Attendees want one of the lecturers to give them the answer. Well, my friends, there is no answer - only years and years of hard work.

Getting ahead means exactly that. I gave some thought to getting ahead of the dive master during my scuba diving in Belize. What would it take? How far ahead? What would the advantages and disadvantages of getting ahead be? Would it be worth the effort? Getting ahead of the dive master would mean powering it on with sufficient muscle power and a burst of energy to swim faster and farther than he did. No one could give that to me but me. The decision and the effort would have to come within.

In Belize, I philosophized about how the surge of power and determination to swim farther and faster is not unlike the effort it takes to be a good trader. While others are coasting, perhaps at a secure job, perhaps through limiting their risk, the exceptional trader will be the one who is willing to take larger risk and apply larger effort. It's no different with trading. Only 20% of the people who trade make money. The other 80% lose money. If you want to get ahead of the trading masters, you will have to power it on. You must have more tools, knowledge, effort, data and discipline to win at getting ahead of the masters.

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2001