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Step Outside Of Your Comfort Zone
Each of us has a comfort zone. That area where everything seems to work like we desire, stress is almost non-existent and we can basically move forward with our eyes closed and not worry.
This might sound like the best way to trade, however, if we never strive to grow, to adjust, to refine to get better, we will actually fade away and regress instead of remaining comfortable.
It is a challenge to try new things because once we step outside of the area where we know 100% what we are doing, we will experience nervousness, mistakes, criticism, stress and more.
There is also a great amount of success awaiting those who will step forward and grow. Once we move outside of our comfort zone and enhance our trading skills, increase our trading, add to our strategies, etc. we will soon grow into these new skills and environments and in a very short amount of time, this will be our new comfort zone which will be the reward for moving forward instead of sitting still.
Remember… everything is difficult before it becomes easy.
Alice Schroeder: How Warren Buffett Really Makes His Investment Decisions
Inspirational Quotes
1. “Great spirits have always encountered violent opposition from mediocre minds.” – Albert Einstein
2. “Act now. There is never any time but now, and there never will be any time but now.” – Wallace Wattles
3. “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” – Aristotle
4. “The greatest discovery of my generation is that a human being can alter his life by altering the attitudes of his mind.” – William James
5. “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” – Charles Darwin
6. “There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
7. “In three words I can sum up everything I’ve learned about life: It goes on.” – Robert Frost
8. “You’ve got to win in your mind before you win in your life.” – John Addison
9. “Life shrinks or expands in proportion to one’s courage.” – Anais Nin
10. “An ounce of doing things is worth a pound of theorizing.” – Wallace Wattles
11. “The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty.” – Winston Churchill
12. “Our ultimate freedom is the right and power to decide how anybody or anything outside ourselves will affect us.” – Stephen Covey
13. “The aim of an argument or discussion should not be victory, but progress.” – Joseph Joubert
14. ”Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.” – Winston Churchill
15. “Don’t wait for a light to appear at the end of the tunnel Stride down there and light the bloody thing yourself.” – Dara Henderson
16. “Your life does not get better by chance, it gets better by change.” – Jim Rohn
17. “Vision without action is just a dream, action without vision just passes the time, vision with action can change the world” – Nelson Mandela
18. “Only those who will risk going too far can possibly find out how far one can go.” – T.S. Eliot
19. “To live is the rarest thing in the world. Most people exist, that is all.” – Oscar Wilde
20. “Freedom is not the absence of commitments, but the ability to choose yours.” – Paulo Coelho
21. “Conformity is the jailer of freedom and the enemy of growth.” – John F. Kennedy
22. “I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day.” – James Joyce
23. “I have learned that it’s not WHAT I have in my life but WHO I have in my life that counts.” – Unknown
24. “Go confidently in the direction of your dreams. Live the life you have imagined.” – Henry David Thoreau
25. “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” – Jim Rohn (more…)
Risk Management
Courage Conquers our only adversary–Fear. Crush it today!
Hope is A Four Letter Word
Hope is a dirty word for a trader ,not only in regards to procrastinating in a losing position ,hoping the market will come back ,but also in terms of hoping for a reaction that will allow for a better entry in a missed trade.If such trades are good ,the hoped for reaction will not materialize until it is too late.Often the only way to enter such trades is to do so as soon as reasonable stop loss loss point can be identified.
If the markets aren't right for your #trading strategy, then don't trade. Much easier said than done for most though
Habits :Read them daily
1) The market will instruct us what to do. Can we learn?
2) Participants’ humanity will cause typical price structures to arise.
3) Our primary job is risk manager…that’s why I believe in managing my resources. Most managers have too much career risk on the line. That is, they can lose more by being ‘out’ when it is perceived as a time to be ‘in’, than by losing money. The old saying “I’d rather lose half my clients than half my clients’ money” isn’t in their lexicon.
4) CASH IS A POSITION
5) The markets spend most of their time not trending
6) Multiple time frames allow more precise determination of decision-making
7) More ‘precise’ decisions may allow for smaller losses
8) The slope and direction of the 50 period moving average are telling
9) Our job is simple: make money.
10) Having a regular routine (preparation routine) is vital