Joe Ross describes futures trading as a business.
Please consider the following and see how your present situation compares.
"Trading Commodities Futures is a business. To my mind, it is the best business in the world - for a great many reasons! It has a very high profit potential against a very low overhead. Risk can be reduced tremendously by taking only high probability trades. In fact, futures trading is a relatively low-risk business when approached with the right attitude and the right planning.
"Trading is eclectic. I can pick and choose which futures to begin, I can choose when to be in it, and generally under what circumstances my entry will be. If Crude Oil traders are making money, I can make money in it too. If I want to trade the Bonds because they are moving, I can. Any trending market is making money for someone, so I can have a piece of the action, too. I can be a bull or a bear as the mood suits me. I can be a happy bull or bear if I'm going with the trend.
"I earn my living in what is probably the last vestige of true capitalism in the world - a 'free' marketplace. I can live by my wits, and reap the fruit of my labor.
"I have no customer problems: no customer relations, no customer complaints. No customer theft, no customers returning anything.
"There are no employee problems other than myself. No unions to contend with, no negotiations, no strikes. No employee benefit plans other than what I give to myself. No employees stealing from me. No collective bargaining, and no stockholders.
"There are no merchandising costs, no damaged goods, no vandalism, no service calls, no repairs to make, and no guarantees to honor.
"I don't have to advertise, and I have no marketing headaches. There is almost always a buyer if I want to sell, and almost always a seller if I want to buy. No purchasing and procurement problems, and no salesmen making mistakes.
"There are no manufacturing problems, no production schedules to meet, no shipping, no receiving, no product liability, and no insurance policies to carry.
"I don't have storage problems either. No warehouse, no spoilage, no items to discontinue or mark down. No bills of lading, no freight or freight damage, no trucks to load or to unload.
"I'm free of invoicing, accounts payable, payroll, inventories, accounts receivable, billing, dunning, bad checks, and bad debts.
"There are no salesmen who call on me, although occasionally an investment salesman will call on the telephone. As soon as I tell them I am a professional trader doing quite nicely in the market, they quickly excuse themselves and hang up. This only reinforces my perception of them as wolves waiting to tear apart some poor unsuspecting suck... whoops... prospect.
"I have no direct competition. What? How can that be? Yet it's true. I have only to deal with someone who is of a different opinion from mine. We settle our difference of opinion with money. If I'm right, then he pays up; if I'm wrong, I pay up. We resolve our difference of opinion in polite and courteous fashion, by putting our money on the line according to the rules. We don't know each other. The exchange acts as the neutral party.
"The person on the other side of my trade can't cut prices as a competitor can. He can't offer better service, he can't scoop me in the marketplace with a new innovation on an existing product or get one-up on me with an entirely new product. He can't steal my customer lists, because I don't have any. He can't lure away my best salesman either. He can't even plant a spy to discover my trade secrets, because I don't have any to hide, and because he doesn't know who I am. He can't seduce my top research scientist, and I can never be the victim of a hostile take-over. I never worry about corporate spies.
"Now I ask myself, "Self, where else can you find a business like this?" The answer is an overwhelming "Nowhere!" It's the most perfect business in the world!!"
Mind Set - Read an extract from one of Joe's books about why these courses are available at all.