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Take A Punch

“Everyone has a plan ’til they get punched in the mouth.”

That’s one of the central challenges of trading. We set out with plans, then we get punched in the mouth with adverse movement.

One way to think of risk management is as a framework that allows you to be aggressive enough to occasionally get hit in the mouth, but not so wild that you’ll get knocked out. Learning how to take a punch is key to boxing success, and it’s also an important trading skill.

Ten Secrets

  • THE FIRST SECRET
    The Power of Thought.Love begins with our thoughts. We become what we think about. Loving thoughts create loving experiences and loving relationships. Affirmations can change our beliefs and thoughts about ourselves and others. If we want to love someone, we need to consider their needs and desires. Thinking about your ideal partner will help you recognize him or her when you meet him or her.
  • THE SECOND SECRET
    The Power of Respect.You cannot love anyone or anything unless you first respect them. The first person you need to respect is yourself. To begin to gain self-respect ask yourself: “What do I respect about myself?” To gain respect for others, even those you may dislike, ask yourself: “What do I respect about them?”
  • THE THIRD SECRET
    The Power of Giving.If you want to receive love, all you have to do is give it! The more love you give, the more you will receive. To love is to give of yourself, freely and unconditionally. Practice random acts of kindness. Before committing to a relationship ask not what the other person will be able to give to you, but rather what will you be able to give them. The secret formula of a happy, lifelong, loving relationship is to always focus on what you can give instead of what you can take.
  • THE FOURTH SECRET
    The Power of Friendship.To find a true love, you must first find a true friend. Love does not consist of gazing into each other’s eyes, but rather looking outward together in the same direction. To love someone completely you must love them for who they are, not what they look like. Friendship is the soil through which love’s seeds grow. If you want to bring love into a relationship, you must first bring friendship. (more…)

Quotes -The Disciplined Trader,Mark Douglas

Never Revenge On The Market

 There is a direct correlation between your ability to let the market tell you what it is likely to do next and the degree to which you have released yourself from the negative effects of any beliefs about losing, being wrong, and revenge on the markets. Not being aware of this relationship, most traders will continue to observe the market from a contaminated perspective

Harmony With Market

 
Your last trade obviously has nothing to do with the potential that exists in the market at any given moment. When you feel compelled to get back, it puts you in an adversary relationship with the market. The market becomes your opponent, it is you against it, instead of being in harmony with it