The Weekend Trader – A Trader is Born

Sunday 8:12AM ET Update – The weekly PivotPoint Advisors Briefing for longer term cycles and portfolios has been updated on the Briefing Room tab of the PivotPoint site.

As you may be able to tell via the lack of recent posting, the last few weeks have been … well, no less than ”intense” as the full immersion of the current Jellie team enters its fourth and final week.

Now since the current effort is our ninth installment of what – with all due humility – many are now regarding as one of the top trader training efforts in the industry in terms of authenticity, value, and results, you’d think I’d stop wondering on occasion if its worth the effort. 

And by effort, I’m referring the to the behind-the-scenes effort that I purposely rarely discuss and few know about:

Such as the getting up at 3AM daily to trade and monitor Europe and summarize for the Jellie’s arrival a few hours later; the personal phone calls; the 160 hours of collective trading and market monitoring between 8AM and 4PM; the ongoing correcting of old habits and retraining of the minds throughout the day; the personal trading during the four weeks in FULL transparency which is an integral part of the effort; and the sacrificing of occasional personal trade opportunities and focus to respond to a critical question by a participant.

A reminder I’m a trader with zero staff who sets certain times aside for an apprentice-type effort … not a salesperson or trainer who tries to trade.

But the fact is that I do continue to at times wonder if it’s all worth it since not everyone will make it.

I wonder because I know full well that even despite providing the best foundation possible in terms of a continually improving program (enhacement tweaks have been over the first 8 efforts) over four weeks and 160 hours of of non-stop guidance, some will still fail.

For it’s been well documented that failure rate in this industry — like similar performance based professions such professional athletics – is huge … ranging anywhere from 70% to 90% depending on the study referenced.  And as such, I’m a realist in that not everyone entering what is quickly evolving into one of the top trader training efforts in the industry will succeed.

To digress for a moment, I remember a few years ago as we were going through the course’s beta development stage someone asking me if I would guarantee participant success.  Of course my mind immediately shifted to my two children for whom by the end of 2013, I will have spent close to a half million dollars in real money on their collective college educations with no guarantee of even a job upon graduation.  Imagine my asking Tufts that question! 

For as I tell every incoming participant, I can’t guarantee “success”, which is of course ultimately dependent upon each individual’s personal desire and effort over time.

What I do guarantee however with unending resolve, is that I’ll under-promise, over-deliver, and provide something of far, far greater value than they could possibly imagine, and that they’ll have my back for life.  And that they’ll NEVER pay me another cent for anything.

Yet I continue to wonder and soul search, frequently asking myself if we’re truly making a perceivable difference in this industry which remains in such desperate need of real education.  I soul search in part because of something a dear friend named Frank told me upon the launch of the Jellie program, which was his perception .. albeit completely incorrect and misguided … that I was using success to go over to the “the dark side”.

And then each time we enter the fourth week of the effort, my wonders are set aside as they turn into … well, wonderment.

For during each effort, as is the case with any educational offering, a few rise to the top.  I recall one trader (remember Marco from one of the early teams?) who ran off such a ridiculous string of successes, it made even my head spin.  And I remember another one whose broker called me to ask “what the hell have you done?”, and before my heart could completely sink expecting the worst, he explained – without violating client confidence – how this guy suddenly morphed into a model of consistency in all market rhythms.

But until now, I’ve never seen anything like the current team of eight.

You see, as we enter our final week of full-immersion in the tank, I know with confidence that everyone “gets it”.  Everyone.

So much, that my recent plans to provide selected schooled traders with capital are expanding … continuing to put my money where my mouth is.

The deal was cinched yesterday when just as I was about to comment on a market rhythm and setup for which one had to have a very keen eye, the observation had already been made and the trade already executed by a member of the team. 

At that point, I removed my headset, took a deep breath (which felt like my first in weeks), closed my eyes, and sat back.

For me, it was essentially like witnessing a birth.

And while it didn’t carry the obvious and far greater significance than one’s first physical or spiritual birth, this “birth of a trader” was still hugely important.

For now I know that after more than a few intentional “spanks” during the first few weeks, the umbilical cord can be severed and he can self-sustain his breathing on his own without assistance.

And at that point, the labor pains are suddenly forgotten.

Yes, three years ago (here’s the initial conceptual Jellie post, including the nudge from Phil Vischer’s “Me, Myself, and Bob” book) some may say we took a risk.  A risk of looking foolish, having intentions questioned, and of failing.

Yet as I said in a recent post, we take a risk every day we step out of bed.

And someone (make that someones) took a risk to give each of us life.

The take-away?

You see, the real risk in life is often not taking the risk.

Insider Jellie Tip - One of the cardinal Jellie rules I created long ago based on experience is to NEVER fade the 3:45pm – 4:15pm ET move for a number of reasons, including insufficient time for a pricing inefficiency to correct itself or for one to recover from a stop, loss of personal focus after a full day of trading, end-of-day settlement messes, and more.  Suffice it to say that the rule saved our behinds no less than three days during the current effort.

I spent over a quarter of a million dollars early in my career “learning” that one, and strongly encourage all traders to consider implementing a similar restriction.

Jellie Webinar Discount Is Back - In celebration of the current team’s “turning the corner”, as well as the upcoming GrowUganda mission trip, I’m pleased to announce that I’m once again discounting the 16-Hour Jellie Webinar Video series which chronicled the beta team’s eight-week journey by $250.  Just email me at don@donmillereducation.com and I’ll email a special discounted invoice. 

A reminder a portion of the Webinar proceeds goes to benefit our GrowUganda.org charity, where even small donations have a direct and tangible effect on human lives.

Trading After Dark – Look for an industry interview discussing the Trading After Dark episodes coming soon.

Local Alpha Program Kicks Off – I also ask for your prayers and support as we get ready to kick off our eleven-week fall Alpha program on Sunday night.  For those unfamiliar with the effort, the Alpha Course provides people from all backgrounds and cultures an opportunity to explore the Christian faith in a relaxed, non-threatening, and friendly atmosphere through a series of evening dinners.

The program has been attended by over 16 million people worldwide, and you can find out more information at www.alpha.org.

May God guide our local leadership team and participants through this important time.

Have a relaxing and peaceful weekend.