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Trading: The Difference Between Playing Offense & Defense

  
  Education
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The sooner traders learn to carefully manage risk the better off they will be. So many new traders come in with only the thoughts of profits dancing in their heads. This is equivalent to a football team only focusing on scoring points and not planning their defense.In trading you must play both sides of the ball. You have to be able to score points against the market and not allow the market to score back those points on you.

Your entries are your offense and your exits are your defense.

Letting a winner run is your offense, cutting your loser short is your defense.

Your automatic buy stop is your offense and your automatic stop loss is your defense.

Buying a monster stock is an offensive move, planning on how you will exit with your profits is your defensive move.

Identifying a trend is your offensive play creating a trading plan on how to trade it is your defensive play. (more…)

Traders :Don’t Blame the Market or Others

  
  Education
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  • When pain surfaces, if you are honest and in touch with yourself, you will own the upset and seize the opportunity to release that internal reality — to forgive! Pain functions to inform us of our errors.
  • False forgiveness is based on the belief that others are responsible for what we feel, and therefore it tends to reinforce that error. To forgive others, in this manner, for what happens in your mind leaves your pain intact and the opportunity to heal is lost.
  • Making use of every opportunity to heal is an important decision you can make and that decision will immeasurably accelerate your process.
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