It's been a very exciting few months growing my $10,000 account to almost $70,000 in profits. Lots of new lessons learned and consistently examining and adjusting my set of rules. One thing I have recently learned and that really hit home is "The Power Of Quitting" Treat trading like a business that you are the CEO and your goal every day is "To quit with a positive result a vast majority of the time while controlling drawdown, with efficient and minimal trading". That really hit home and I am trying to adhere to that more and more on a daily basis. When I first joined the Challenge I met someone that wasn't doing very well and was trying all different programs out there trying to succeed. We have been friends up until recently when an argument came between us. I just want to share some of the things this person said so you can learn from it. First, she kept Trashing Tim Sykes and the Challenge and kept on saying that It doesn't work, I asked well please explain how It doesn' work. She insisted that everytime that she followed Tim into a trade that she lost Money. I kept trying to Tell her that Tim himself, and any of the other Gurus comes right out and says do not follow anyone in a trade. She could not understand this and was convinced that was one of the reasons she kept on losing money. I tried to explain that it wasn't Tim or the Challenge that wasn't working it was her. I advised her that I felt that I got my monies worth and felt that there were some really good core lessons that I have learned from the Challenge. She insisted that she knows hundreds of people that have lost money and it doesn't work. She then said I am the only person that she speaks to who feels this way. Then I asked her out of all of the video lessons, the study guides, and the webinars roughly what percentage of those had she actually studied. After another argument, she said about 40%. So I asked her, Let me see if I am understanding this, you expected to pay money for a course in which you only gave 40% effort and expected to not only succeed but to become a Millionaire. I said It's not the Challenge that is failing it is you. Becoming good at anything takes work, dedication. There are no get rich quick schemes out there and I said to her that it's her mindset and her attitude that is making her fail. So then She explained that she tried another course which is basically a prop firm where you put in money and they let you trade with there capital and you get part of the profits. She insisted that the training from that course was so much better. I had asked her well if it was so much better then why did you blow up your account 3 times and are still losing. There was no getting through to this person and the more I talked with her I began to realize exactly why 90% of Traders actually fail. I tried telling her that in any profession in life there is what is known as the 10,80,10 Rule. 10% of people in any profession basically are miserable, they constantly complain and bitch about how things are just not working and they can never seem to get ahead, I said this is you. Then you have the 80% which is the majority of any profession that follows the crowd, are basically happy where they are at and just go on to live an average life and are ok with that. Then you have the top 10%, these are the people that go above and beyond all that it takes to outshine and be the best that they can be. They think outside of the box. They put in the extra effort that it takes to be successful. They look at there failures and their accomplishments and they learn from both. They don't ever let any failures or anything else get in the way, they succeed no matter what. I told her the more I talk to her the more she was convincing me that she was in search of a get rich quick scheme and just wasn't willing to put in the effort that it really takes to be successful. She kept getting angrier and angrier the more I pointed out her mistakes and failures. She then told me that she was going to start trading Options because it was easier and she put $50 in her account to trade with. I tried telling her that if she isn't able to trade stocks successfully she is going to fail at Options also. Her theory was that with options you can easily get 100% gains and the most she would lose is her $50. So I asked her once again let me see if I understand you correctly you are going to trade $50 trying to double it and turn it into $100 and are willing to lose the entire $50. She said yes. I said so you are not going to try and cut your losses so you are at a 1:1 risk reward ratio. She said well it's only $50. I felt like I was stuck in that who's on first skit for she just didn't get that she might as well walk into a casino and put $50 on black or red on Roulette and she will have the same results. So to make a long story short I no longer speak with her. But it is this kind of mindset that a lot of traders have and wonder why they fail. In trading find what works for you and also what doesn't work and build on what is working and stop doing what isn't working. The recent webinar Tim had where it was all day several people were asking him to look at there trades and give them advice. I was amazed at how many people were losing most of there money on Biotech stocks. If you are tracking your trades and examining what's working and what is not you don't need someone to tell you to stop trading the shit you keep losing money on. One person actually had great trades other than the Biotechs that he was losing money on. This is what separates the 90% from the 10%. Study the past in order to have to put the future odds in your favor. Ok, I have rambled on long enough I hope at least some of you learned something from what I have said. I look forward to hitting the $70k mark soon then going on and reaching $100k. I am still taking small size trades and not risking all that much per trade. all the little wins add up over time. I do still have a lot to learn and fine tune in order to be more aggressive and successful. It's a process that takes time and patience. Hope everyone had a great week of trading and is taking advantage of the Volotility in the market and being very careful at the same time.