Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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…you can learn anything you need to learn to become anything you want to become, to achieve anything you want to achieve. There are very few limitations and most of them are on the inside, not on the outside…Brian Tracy, "Maximum Achievement"
As I sit here in the middle of the night, watching a nice amount of green on my trading screens, I look back to that glorious day in 1994 when I fell in love with trading. I was a very successful psychiatrist at the time, but was working outrageously long hours, taking calls every other night and dealing with the most seriously mentally-ill individuals in my state. My practice was killing me but I didn't know how to get out of it. People told me I was saving their lives, and was the only person they could talk to without accusing them of being insane. All of this was a trap that had ensnared me. For personal survival, I had to get out. And I did.
The financial markets became my passion, and it was this drive and determination that allowed me to meet each challenge and stay open to every possibility. One day, I met a man who had been trading soybeans for over 30 years, and he offered to teach me about trading. Little did I know what was waiting for me as I sat with him every day for a month during market hours.
I expected Old Harry to treat me in the same way that I treated by patients–with kindness, encouragement and respect. I thought he would teach me everything he knew and share the secrets of trading success. I was dead wrong on all accounts, and it taught me the first lesson about making money in the markets.
What I found in Old Harry was–for lack of a polite phrase–a person who preys on the fears of others. Not once in the entire month did I see him place a live trade. All trades we made were on paper, and most were losers. His basement was piled high with charts and graphs going back over 50 year years. He had one old computer and there was no electronic trading platform. Henry called his orders in by phone, usually during the night after I left and sometimes early in the morning before I arrived. Then, he spent the entire time I was with him telling me how difficult it was, how I should not even bother trying because I would fail. Old Harry told me I should "stick with psychiatry and not bother learning how to trade beans because the bean markets are too tricky for new traders and it takes years to have even a little success!" Every day, he told me another reason that I would not succeed, would lose all my money and had no business even thinking about trading.
At the end of the month, I realized that Old Harry was trying to kill my passion and commitment. I was letting him play right into my subconscious feeling that everyone knew more than I did about trading so I could never be successful. But in reality, it was through this type of discouragement that I became more determined to succeed. I said goodbye to Old Harry and avoided any further interaction with him.
The first lesson in becoming fabulously rich as a trader is to ignore everyone in your life who tells you that you will not ever be successful. You must be willing to fail in order to succeed. You must separate yourself completely from the opinions of others who look down on you, or look at you like you are crazy because you have a passion for trading. You must convince yourself completely that you deserve to be rich and that nothing will stand in your way. It is your destiny and you will do whatever it takes, put in the work and the discipline to make it happen and never ever give up! Most importantly–and here is the lesson from Old Harry–you must immediately look your fear of failure straight in the eye. Then, stare it down and destroy it!
In my many years of trading and mentoring traders, I am convinced that the best way to amass obscene wealth as a trader is to completely ignore the possibility that you will fail. It is critical to detach yourself from any and all negative messages you are getting from others. Stay true to your own passion, commitment and dreams. There are no limitations other than those you place on yourself.
If I can do it, you can do it. So go get 'em and darn the torpedoes and full speed ahead! Darn each and every Old Harry that tries to sink you on your way to success!
Homework Assignment for Lesson 1: Read and study Simba's story in Disney's "The Lion King," and focus on the relationship between Simba and Scar.
You gotta make your own kind of music,
sing your own special song.
Make your own kind of music,
even if nobody else sings along…
The Mamas & The Papas, "Make Your Own Kind Of Music"
Until the next lesson in making obscene trading profits,
Good Trading and Brain On!
Janice Dorn, M.D., Ph.D.
janice@thetradingdoctor.com
Global Risk Strategist, Ingenieux Wealth Management, Sydney, Australia
www.thetradingdoctor.com
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