Photography by Dennis Phan  潘家墉





When I first started my stock and option trading education, I noticed many traders expecting a quick way to make big money in trading business, myself included. Many software with so called “indicators” were introduced to us. The demonstration looked fantastic with easy in and out for a quick profit. I was amazed and naively thought I have found a “gold mine” in trading. However, after being in trading business for awhile, I feel the reality: There is no such thing as a free lunch. Common sense tells me if the company’s software is so accurate in predicting future market movement, why should they sell it to the public? They will keep the “crystal ball  for themselves and make mega money trading stock. The stock education company only provides us a tool to trade. It is up to us to use that tool and knowledge we have learned to trade the market profitably. 


During a seminar I attended, one student, who is also a surgeon, raised a question if he attends all  the seminars and reads all books about option trading written by the instructor, can he trade the way the instructor is trading? The instructor, who was a  veteran trader with over 30 years of experience, replied: Let me go to your seminars and read all books about surgery written by you, will you let me operate on your next patient? The surgeon got the point. The instructor went on to say persistence is the key to be successful in trading. He himself had blown up three trading accounts and almost quitted before he redeemed himself. The rest was history. The main lesson learned: There is no such thing as getting rich over night.


Trading is a business and like other businesses, we need to be knowledgeable in order to be profitable. I have tremendous respect for one trader who is very candid about trading. He is a real trader, not a salesman. He never intends to sell anything. His main focus is to educate his listeners and be realistic about trading. He repeatedly mentions about strategies and winning probability in his seminar. Of course, I still have some different trading philosophies with him but overall, I have learned a lot from him. He teaches me to be a realistic trader. One of his remarks stands out: “Nobody knows what direction the stock market will move tomorrow. Everyone has a 50/50 chance. We need to find a way to increase the odds working in our favor  He makes me realize there is no such thing as a free lunch. If I want to be a profitable trader, I have to work for it and be realistic about my goal. 





Dennis Phan   潘家墉

1971/1974 Khai Minh Doan Ket Class

08 April 2014 in Claremont, California, USA









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