General Patton speech to his soldiers during the World War II… here is what I imagine he would say to his Traders 🙂
Credit. This is where I took the idea from, the fxmonster.pl blogger who posted a speech of Patton to traders, in Polish. Here I found the English original. Version below, I created based on fxmonster’s idea and the original.
Read on if you are OK with some profanity, as in the original version…
Gen. Patton speech to Traders, 1944
“Men, this stuff that some sources sling around about trading forex being complex, is a crock of bullshit. People love to make simple things complex so that it looks “professionally”. I say f…ck it! We will use very simple setups, so simple that in a few seconds you will know if there is a chart setup to trade or not! The market pays for high quality trading, not for pretending to be an expert or using fancy indicators.
Despite being simple, trading is one of the most difficult challenges known for men.
All traders love the sting and clash of battle. You are here today for three reasons. First, because you are here to make money trading forex. Second, you are here for your own self respect, because you would not want to be anywhere else. Third, you are here because you are real men and all real men like to fight, and this is the best game of all.
“When you, here, everyone of you, were kids, you all admired the champion marble player, the fastest runner, the toughest boxer, and the big league ball players. High quality traders love a winner. Traders will not tolerate a loser. Traders despise cowards. High quality traders play to win all of the time. I wouldn’t give a hoot in hell for a man who lost and laughed. That’s why high quality traders have never lost nor will ever lose a war; for the very idea of losing is hateful to a hq forex trader. We can lose some battles, but we will not lose a war.”
The General paused and looked over the crowd. “You are not all going to fail in trading,” he said slowly. The ones who trade without a trading plan, or fail to follow their trading plan, they fail.
Yes, every man is scared when the trade is on and your hard earned money is on the line. If he says he’s not, he’s a liar. Some men are cowards but they trade the same as the brave men or they get the hell slammed out of them watching men trade who are just as scared as they are. The real hero is the man who trades according to the plan even though he is scared. Some men get over their fright in a minute under fire. For some, it takes an hour. For some, it takes days. But a real man will never let his fear overpower his honor, his sense of duty, and his innate manhood.
Trading is one of the most magnificent competition in which a human being can indulge. It brings out all that is best and it removes all that is base. High quality traders pride themselves on trading their plan and they ARE trading their plan with high quality. Remember that the enemy is just as frightened as you are, and probably more so. They are not supermen.
“All through your traders careers, you men have bitched about what you call “chicken shit drilling”. You complain that you need to stick to the trading plan, backtest the setups, find hundreds of setups on the historical charts, take best trades only and journal your trades. That, like everything else in this trading, has a definite purpose. That purpose is alertness. Alertness must be bred into every trader. I don’t give a f..ck for a man who’s not always on his toes. You men are veterans or you wouldn’t be here. You are ready for what’s to come. A man must be alert at all times if he expects to stay alive. If you’re not alert, or you don’t have a stop loss in the market, sometime, a big bank son-of-an-asshole-bitch is going to sneak up behind you and beat you to death with a sockful of shit! Statistics say most traders lose money. These are ‘heros’ who are trying to predict the market and trade with no stop!” The men roared in agreement.
The General clutched the microphone tightly, his jaw out-thrust, and he continued, “Trading is a business. It needs a business plan, emergency plan, risk management plan, journal and right mindset. This heroic stuff of trading large lot with no stop, stories about ‘secrets’, magic systems, ninety percent winners, predicting indicators is a pure horse shit. The bilious bastards who write that kind of stuff for the Forex Factory Evening Post don’t know any more about real trading under fire than they know about f…cking!
The men slapped their legs and rolled in glee. This was Patton as the men had imagined him to be, and in rare form, too. He hadn’t let them down. He was all that he was cracked up to be, and more. He had IT!
“We have the right trading system that is right for us, the best risk and money management plan, the best spirit, and the best traders in the world”, Patton bellowed. He lowered his head and shook it pensively. Suddenly he snapped erect, faced the men belligerently and thundered, “Why, by God, I actually pity those poor sons-of-bitches , on the other side of our trades, that we’re going up against. By God, I do”. The men clapped and howled delightedly.
“My men don’t take stupid trades”, Patton continued, “I don’t want to hear of any trader under my command taking any trade unless there was a setup as defined in our trading plan. Even if you lose once or twice or more, you still trade your plan. That’s not just bull shit either. The kind of man that I want in my command is just like the trader I met last year, who, after eight losers in a row, he reviewed his journal, he saw that he was trading with high quality, and he continued to do so, regardless of losses, and his money management plan kept him alive despite the losing trades. And then, next few days, he made four winning trades in a row, each of them three times the risk! He was back in profits, large ones!
Patton stopped and the crowd waited. He continued more quietly, “All of the real heroes are not storybook combat fighters, either. Every single trader in my team must trade the plan. Don’t ever let up. Don’t ever think that any element of the plan is unimportant. Every point in your trading plan is a vital link in the great chain.”
What if every trader suddenly decided that he didn’t like to wait for the setup, and just opened the trade because he felt like the market was going up? The cowardly bastard could say, “Hell, it’s no problem, it was just one trade”. But, what if he thought so every time?! Where in the hell would we be now? What would our trading account, our business, our future, our loved ones, our homes, even the world, be like? No, Goddamnit, my high quality traders don’t think like that. Every trader does his job, every trade. Every point on your trade opening checklist is important in the vast scheme of this war. The initial stop loss placement is needed, the trend filter is needed, the trade open setup is needed, the right entry method is needed, the position size plan is needed, the trade closing plan is needed, even the journal entry with trade learning is needed!
“Thanks to the trading plan you will know how to trade, when to take a trade, how many lots, where to place a stop and how to take profits. Right money management and position size will let you go through tougher times. And journal will let you see mistakes you make and fix them.”
Patton paused, took a deep breath, and continued, “Sure you all want to make money trading forex”, Patton continued, “but you cannot make money without discipline and sticking to the plan. Trading is a continuous learning and getting experience. The faster you learn discipline, the sooner you will start making money, consistently!”
The men roared approval and cheered delightedly. This statement had real significance behind it. Much more than met the eye and the men instinctively sensed the fact. They knew that they themselves were going to play a very great part in the making of world history. They were being told as much right now. Deep sincerity and seriousness lay behind the General’s colorful words. The men knew and understood it. They loved the way he put it, too, as only he could.
Patton continued quietly,
“Sure, we want to avoid losing money. We want losing streaks over with. The quickest way to get it over with is to cut the losers short and stick to the plan. The quicker the losing trades are whipped, the quicker we can go home. Close the losing trade! Let the stop loss order be executed! The shortest way home is via following your system.”
Trading is a bloody, killing business. You’ve got to take their money, or they will take yours. Rip them up the belly. Shoot them in the guts. When shells are hitting all around you and you wipe the dirt off your face and realize that instead of dirt it’s the blood and guts of what once was your best friend beside you, you’ll know what to do! You wait for the next setup and trade the hell out of it!”
“I don’t want to get any messages saying, “I am looking at the chart.” We are not looking at f…cking charts! We are sticking to the plan and wait for our setup. And once we see the setup, we see it immediately, we have seen it hundred times in testing, and we are going to twist its balls and kick the living shit out of it all of the time. Our basic plan of operation is to trade our setup and to keep on trading our plan regardless of whether we have to go long, go short or stay flat. We are going to go through the trading session like crap through a goose; like shit through a tin horn!”
“From time to time there will be some complaints that we are pushing our people too hard. I don’t give a good Goddamn about such complaints. I believe in the old and sound rule that an ounce of sweat will save a gallon of blood. The harder we push, the more pips we will make. Any setup you trade must be backtested, for long hours, hundreds of times seen on charts, practiced all over again, until you are consistently profitable in training, before you trade it live. I want you all to remember that.”
The General paused. His eagle like eyes swept over the hillside. He said with pride, “There is one great thing that you Traders will all be able to say after this war is over, and you are home once again. You may be thankful that twenty years from now, when you are sitting by the fireplace with your grandson on your knee and he asks you what you did in the great World War II, you WON’T have to cough, shift him to the other knee and say, “Well, your Granddaddy shoveled shit in Louisiana.” No, Sir, you can look him straight in the eye and say, “Son, your Granddaddy traded forex, with high quality, with the Great Third Army and a Son-of-a-Goddamned-Bitch named Georgie Patton!”
“Now you know how I feel. I will be proud to lead you, Traders, to fight for your pips, anytime, any market. That’s all.”
Ahh, I feel much better! See Ya!