“Trading to win” means surrendering to the moment without trying to control it. It means to let go of fixed preconceptions about what you must do, and to liberate your self-conscious sense of self and selfprotective thoughts, which color the way you experience life and the market. When you can do this, you are in the here and now of your trading, and can bring your maximum potential to bear on the tasks before you.
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rssImportant Questions That Every Trader Must Answer
- What can I win?
- What can I lose?
- What do I know?
- What don’t I know?
- Why am I making a given decision?
- Who am I? Am I, for example, the guy who needs to make $100,000 this year or my family leaves me?
- Where am I in relation to my goals?
- Where do I need to be to achieve my goals?
- When will I start? Now or tomorrow or next year. Knowing when affects the next step I take.
One of the great things about the market is that it doesn’t give a damn about you. The market doesn’t care what color you are or if you are short or tall or if you live or die. The market doesn’t care whether you play or leave.
The Complete TurtleTrader – The Legend, the Lessons, the Results
For all the Critics, & Arm chair nit pickers that shout their opinions loudly but never get in the game.
7 Weakest Points of Trading
The weakest part of any trading method is the trader themselves. There are many, many, robust trading systems and methods that do make money in the long term. The problem is the trader having the discipline and mental toughness to trade one of them consistently. The vast majority of time it is not a system failure but traders that fail in this game through one of seven common errors. If you can understand these error and overcome them you could make a lot of money in the right market conditions.
- The trader must have the discipline to take the system’s entries and exits.
- The trader must have the discipline to take the stop loss on a losing trade when it is hit and not keep holding and start hoping.
- No matter the method the trader has to manage risk through proper position sizing, getting greedy and trading too big will blow up even the best systems.
- It is the trader that must have the perseverance to stick to the method even during losing periods, and also stick with trading until success is reached.
- If a trader can not manage their mind then the stress will break them, I have seen this happen many times. If you can’t handle losing you can’t trade.
- The trader must find a robust method, must understand why it has an edge, and must believe in their methodology.
- The trader has to know themselves and trade the method that fits their risk tolerance levels and own psychology. (more…)
The Epic Rise of John D. Rockefeller (the richest person to ever live
Always Remember This :In Life & When U Trade in Market
Technically Yours/ASR TEAM
Addiction is Bad
Process and Strategy
The first step, assuming you have plan, to out perform a strategy is to have an extremely efficient process.
What a process provides:
Clearer mind: There are many things in trading that are repetitive. Clean up as many as possible. Find a better use of your time. Traders are some of the hardest workers I know, they work long hours, but my question is why? Think of it like making a phone call. Some traders have to go to the bank to get quarters, then walk two blocks to a pay phone, call the operator for the phone number, and then make the phone call. Some traders hit one button and reach the person. I am not saying you should not work hard, just work more efficiently.
Focus: Once all of the little things are taken care of you can now focus on what is important, the market. This will dramatically improve your execution. You can only execute well over time if it is you and the market. You can take more intelligent risks because you have more of the RIGHT information. Have you ever been in a trade, then when you go back to review a trade, you realize you missed something important? More than likely that is a process problem. It is important to accurately attribute the importance of that information and realize that hindsight is a horrible recorder. I would rather make that decision when I can do something about it. This takes trial and error but a pattern will develop and once it does it is your responsibility to constantly monitor it for change.
Anticipation: Anticipation is key in trading because the market is always leaving cues to what it is going to do next or that what it is going to do next is not tradeable. We teach our traders to have a progression, much like a quarterback would. Anything can happen and having a progression will help you to take advantage of it. (more…)