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FOUR STEPS TO TRADING PROGRESS

HEAR

To HEAR you have to listen and listen intentionally. You will not HEAR properly if you are focused on other things. This situation is especially true on a webinar or during the trading day when the markets are open. It is essential to set distractions aside and HEAR what is being stated.

RECEIVE

To RECEIVE something you have to HEAR it and come into agreement with it.  To RECEIVE is to take it unto yourself and personally grab hold of what you have heard and make it your own.

BELIEVE

To be successful you have to believe that what you HEAR and RECEIVE can add value to your current situation. You have to BELIEVE that a specific strategy repeated and correctly  executed, regards of any specific outcome, will provide successful results over time. You will act on what you believe In all areas of life.  Please make sure you really do BELIEVE it and are not allowing any contradictory mindset to compete with your belief because it is possible to hold two opposing beliefs at once. This is being double minded and leads to instability.  Being firm and unswayed in what you BELIEVE can lead to becoming a successful trader. (more…)

20 Ways to Get Good Karma- Dalai Lama,Many teachings can be directly applied to trading

  1. Take into account that great love and great achievements involve great risk.
  2. When you lose, don’t lose the lesson.
  3. Follow the three R’s: 
    –  Respect for self, 
    –  Respect for others and 
    –  Responsibility for all your actions.
  4. Remember that not getting what you want is sometimes a wonderful stroke of luck.
  5. Learn the rules so you know how to break them properly.
  6. Don’t let a little dispute injure a great relationship.
  7. When you realize you’ve made a mistake, take immediate steps to correct it.
  8. Spend some time alone every day.
  9. Open your arms to change, but don’t let go of your values.
  10. Remember that silence is sometimes the best answer.
  11. Live a good, honorable life. Then when you get older and 
    think back, you’ll be able to enjoy it a second time.
  12. A loving atmosphere in your home is the foundation for your life.
  13. In disagreements with loved ones, deal only with the current situation. Don’t bring up the past.
  14. Share your knowledge. It is a way to achieve immortality.
  15. Be gentle with the earth.
  16. Once a year, go someplace you’ve never been before.
  17. Remember that the best relationship is one in which your love for each other exceeds your need for each other.
  18. Judge your success by what you had to give up in order to get it.
  19. If you want others to be happy, practice compassion.
  20. If you want to be happy, practice compassion.

 

Confidence, Discipline and Consistency

While day-trading is a great way to make a living when you are consistently profitable, it can also be the worse career choice if you consistently lose. Continue forward with system development, or working towards effective risk management, money management, or mastery of your trading psychology. Trading psychology means the big 3: discipline, confidence and consistency.The trading psychology takes precedence because it is needed to make sure that the other two are followed.

It takes a skilled trader to understand execute all of the things that are needed to be successful and earn a significant amount of profit doing this alone. Money Management is essential to preserve your trading capital and is simply a set of rules that governs how much money you have at risk. Take control of your trading Psychology and adhere to strict discipline in trading your developed and refined Trading System.

Building confidence on the system is extremely important as that is the only reason why you stick to the system during bad times. Day trading requires focus and discipline on the part of the trader with a high degree of risk tolerance since losing trades are numerous. (more…)

FOUR STEPS TO TRADING PROGRESS

The steps below are based on the developmental maturity of any trader. Each of us are at different levels in this process. This process can be applied to our overall progress as traders or in the learning of a new strategy. It is important for us to be realistic about where we are personally to become the best trader possible.

HEAR

To HEAR you have to listen and listen intentionally. You will not HEAR properly if you are focused on other things. This situation is especially true on a webinar or during the trading day when the markets are open. It is essential to set distractions aside and HEAR what is being stated.

RECEIVE

To RECEIVE something you have to HEAR it and come into agreement with it.  To RECEIVE is to take it unto yourself and personally grab hold of what you have heard and make it your own. (more…)