This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

All too often when we read trading books, we see a pattern that plays out perfectly. Then we go on to spot double bottoms, make our trade, and finally find out it wasn’t the bottom. We average down, the position comes back to break even, and we feel some relief. You know what happens after that. I laughed when I saw this chart. Although I don’t average down, and hold losers overnight (winners either), this chart reminds me of my own trading.

I would love to see at least one chart in every trading book like this. If I had a better grasp of the English language, I would write a book myself. I think its easier to write the book, than to actually trade. I would almost bet that many of the books I have bought are from washed out traders with enough knowledge to become dangerous.

Zoomie pointed out on Prospectus’ post that he believes it takes about three years to become profitable. If nothing else, after two years, we should have enough knowledge (and maybe a secret indicator or two) to write a book.

That’s Plan B!

And before everyone starts bashing Boogster, how many traders are willing to air their dirty laundry every single day without fail. I know I’m not. I will quickly drop out of the VO, and change my name. However, my fourth grade writing skills will be easily recognized.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com