Trading Educators Blog
Are you a creative trader? Are you able to come up with innovative way to make money in the markets? How does one do that? How can a trader become creative?
What causes a trader to be creative is a mystery, even to professionals who study such things. Scientists have discovered a few common characteristics that all creative persons possess - a lot of it seems to be the ability to "think outside the box." Common characteristics are openness to a variety of internal and external experiences and a strong need to express a sense of individualism, but for the most part no one knows exactly how the creative mind makes innovative discoveries.
It seems that there are a few prerequisites necessary. The mind must be focused; new ideas must be able to flow through without hindrance, and there must be a wide range of ideas, so that they can be combined and re-combined in new ways. New and creative trading ideas are necessary to stay ahead of the crowd, so doing whatever you can to prepare your mind to brainstorm new ideas will help you develop creative trading strategies that are the foundation of profitable trading.
Creative thinking takes practice and knowledge. A knowledgeable person can come up with more ideas than a less knowledgeable person, based on the same body of data. You practice to get your creative ideas flowing. Practice is essential to "prime the pump" of your thinking processes. You need to get your mind ready to make a creative observation.
You must prime your mind to get ideas flowing. When you make a definite effort to think carefully about a specific topic, or a closely related topic, and start running through a bunch of possibilities, all kinds of new possibilities become apparent. Your mind quickly scans various concepts and ideas, almost unconsciously. Suddenly this wealth of information combines and you see something you didn't see before.
Once you get the basic idea in your mind, you can scan a set of charts to backtest and find support for your idea. As you look through the charts, the information you see will activate other related information. Soon idea after idea will come together, and you'll make a new discovery that will serve as a basis for a new trading strategy. The main point is that you must set your thinking processes in motion to come up with a creative new idea. To learn how to think outside the box, you might try reading "Trading Is a Business." I put over 100 pages of thinking outside the box into that book. If you want to see creative thinking at work, try our online webinar "Trading with More Special Setups."
Master Trader Joe Ross wants you to learn trading and he created products to do just that, teach you how to trade. Go to our website to find which ones best fit your trading style.