KING - "I earned a lot of money with King"
This quote is from an e-mail that I have recently received from one of the best KING traders, one of "the originals," that is, the students from the first KING mentoring session that took place in late 2008. He was known as Dick and I mentioned him under that name in the Testimonials section as well. The screenshot below along with its caption comes from that page.
It's always a pleasure to hear from someone like that, but as you can see from his e-mail sometimes I may lose touch with them. Nevertheless, some of the students from the first two KING mentoring sessions are still around and in touch with me from time to time.
Dirk, as he prefers to be called now, is back to trading after a break due to his job that took him to Germany from his native country of the Netherlands.
That can happen too. That's one of the reasons people stop trading. A new job means greater obligations, a greater pressure to prove yourself, to demonstrate your value to the people you work for or with. That's perfectly understandable.
I decided to share his e-mail with you so that you can see how people's lives change and how this can affect their trading aspirations.
I suspect that only about 5% of people who undertake day trading as a way of making money, end up with day trading as the main source of their income, that is, they truly make a living with it. About 15%, I estimate, may profit from it to some extent in the long run, but not enough to make a steady living. And then there is the 80% who never make a dime and may even lose a lot.
I have said on this site what makes some people more successful than others in this business and I emphasize this also in the KING course. You have no idea how many people will ignore my really good advice that would help them to become better traders. But that's beyond my control. I don't even pity these people any more.
If you have what it takes, you will succeed with KING. One of these things that it takes to succeed is reasonably good basic computer skills.
KING is a self-study course, and not a teach-me-everything-I-failed-to-learn-in-high-school course. Unfortunately, these days, more and more I have to deal with the people who think that it's the latter despite the fact it has never been advertised as such.
On the contrary, it has always been a self-study course. Since it is a very comprehensive course, anyone who can learn at all, can master its methodology on his or her own. Most people never ask a single question and only some time later I find out that they are doing just fine or even very well.
You learn best by doing (practice, practice, practice!) and if that's not your idea of learning, don't bother. I may be a theoretical physicist by training, but I am more pragmatic than most business types I have dealt with some of whom I found to be more theoretical than theologians. They even liked to think they were smart. Nah, the only smart people are the pragmatic kind, the kind that knows that "no pain no gain," and that "the hard way is the best way." The rest are idiots of various shades in need of a better mirror, minor exceptions notwithstanding.
But I am always willing to help, as long as I see that you have done your homework. Still, I also do strongly suggest that you first learn how to use NinjaTrader (or Sierra Chart) to see if you stand a chance as a trader. Some people can't do even that and yet that's the absolute minimum you should be able to do if you fancy a career as a day trader. Yes, they cannot do even that!
Posted on December 8th, 2014.
Updated on January 4th, 2015.