Archives of “January 8, 2019” dayrss
The Purpose of Living Life Purposefully
Here are some good self-assessment questions:
* How purposeful are you in getting the sleep you need to function at your best?
* How purposeful are you in getting the exercise you need to function with maximum energy?
* How purposeful are you in eating the right foods to sustain your health and well-being?
* How purposeful are you in organizing your time so that you’re spending your highest quality time on your most important priorities?
* How purposeful are you in cultivating the quality of time with the people who matter most in your life?
* How purposeful are you in ensuring that, each day, you are accomplishing something meaningful in your life?
Can we really expect to achieve our life’s purposes if we are not living our days purposefully?
Can we trade with intention and discipline if we don’t live the rest of our lives intentionally?
Everything in life can be approached with intention and purpose or it can be approached mindlessly and routinely. In carrying out daily activities with self-direction, we strengthen our ability to stay mindful and purposeful for life’s greater goals.
Life is one great gymnasium, but we only develop if we recognize the equipment and conduct our workouts.
This is the trader’s ability to attend to the smallest details of his or her trading plan. I believe a trader must have rules for entering and exiting a trade before the trade is made. In the beginning these rules can be in the form of a checklist wherein before each trade all the details of your rules are checked and verified. With time, the rules become such as a part of your psyche that the checklist is in your head and can be confirmed with quick precision. The key is to never change the rules. When the rules stay the same your mind will not be able to play tricks on you.
The markets will not be as easy as your trading system planned for, but we still have to follow our trading plan.
Personal finance tips meet reality
Worries of Day Traders
Here is what traders choose to worry about (among others I am sure). These so-called worries are usually in the form of a question and revolve around losing money:
1. Will this trade make money?
2. Will this trade hit a profit target?
3. Will this trade reverse quickly against me?
4. Will my gain turn into a loss?
5. Will unknown news affect my trade?
6. What if I have not done enough homework?
7. What if my strategy is not sound?
8. Will Cramer disagree (I had to throw this one in)?
9. What if I get out too soon?
10. Did I buy the right stock?
11. What if I miss a potential move?