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20 Skills for the Trader

  
  Education
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1.      Know the difference between trading and investing.  We are traders, NOT investors.  ••  Disciplineis doing the right thing at the right time…every time! Survival in this business is dependent on the right decisions.

2.      Don’t let losers run!  Always use stops .  Riskmanagement is very, very important in your trading.  Don’t be stubborn in holding a position. Remember, while you may not be wrong often, The Market Is Always Right.  The best traders are the first to admit (to themselves and the market) that they made a mistake.

 3.      Trade only price pattern set-ups.

 4.      Trade for skill, NOT the money.  If you’re focused on the money aspect of trading…you’re not focused on the ‘trade’.  And SCARED MONEY NEVER WINS!

5.      Concentrate on what you are trade.  Each market has personalities, habits and friends…get to know them all.

 6.      Focus on your executions.  Remember, every execution is a trade.  Money is valuable…don’t leave it on the table. (more…)

Creating A Culture Of Distraction

  
Education, Video
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Distraction is eating away at society. Now that almost everyone has a handheld computer at their disposal 24/7 distraction is life. This is an older video from Microsoft, but worth checking out again. It is a perfect example of how much of our lives are being missed by chatting with someone in cyber space rather than living in the moment:

Too much stimulation is like a massage that never ends–no good. Think about it from an investing perspective too.

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