Archives of “January 23, 2019” day

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Frustration & Regret

  
  Education

Your success as a trader at times hinges on your ability to conquer frustration.  Frustration will always appear on the path toward greatness.  Some will triumph over it, while others succumb to its pettiness.  When you encounter obstacles on your trail toward achievement, remind yourself that they were placed there in order for you to overcome them, so you can learn from them and become better than you were before”

Regret is toxic because it encourages you to look back and to focus your energies on the past, when you should be using your valuable time and energy to focus on the here and now in order to uncover trading opportunities”

We want to be right

  
  Education
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 Two wrongs don’t make a right in life but in the stock market two wrongs (and plenty more) will help you get on the right road to making money.   The market says the trading game is about making money not about stroking the ego.  The “right” road is the “wrong” road when your on Wall Street.  Hey, if  you doing it to be right, then you’re “doing it wrong!”

What is an Ostrich?

  
  Education
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An ostrich will hide itself by lying flat against the ground, or run away when frightened. In dangerous situation, it will stick its head in the ground.
In the stock market, an ostrich is referred to as someone who ignores bad news even when bad news is clearly affecting his portfolio. He will ignore the market and pretend not to know anything. It is not advisable to be an ostrich.

Enthusiasm Brings About A Triumph

  
  Education
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The greatest victories in life rarely come from those who are sad, pessimistic or lacking enthusiasm.
When we approach challenges in any area with enthusiasm, we set a new foundation that starts us off on the right foot. This does not automatically happen. We all need to decide that we are going to start changing the way we begin our trading sessions.
Before we jump on our computer and look at our charts and start executing trades, take about 15 minutes to set the tone for this session. Take a few deep breaths, forget about the list of tasks that you have to deal with today, get a piece of paper and write down 1 or 2 items that you will focus on during today’s trades.
Once you have your mind set and your 2 items ready; say out loud “I am ready to trade”. Say this with enthusiasm and then sit down and begin.
You will have a new perspective on today which does not include focusing on the profit results, but instead on the process. Your trading session will have new meaning and you are now set to be triumphant in today’s trades.

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