I recently sat down and made a list of all my trading faults. If you have a capacity for honest self assessment you will know what they are. I then created a goal for each of the things on my list which was its opposite.
So for me consistent journal writing and record keeping I knew was not that great. I have bursts of it, then either have no time or get bored – and I also think that accurate journal writing is fuel for the rocket of personal development so I MUST do that. I worked out that half the problem was not having a consistent format that I was happy with so I think I’ve fixed that.
There were a few other things, but that was the process. Create a list of your known issues and reverse them, and focus more on those goals than anything else.
Archives of “development” tag
rss100 TRADING TIPS
1)Nobody is bigger than the market.
2)The challenge is not to be the market, but to read the market. Riding the wave is much more rewarding than being hit by it.
3)Trade with the trends, rather than trying to pick tops and bottoms.
4)There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each.
5)In uptrends, buy the dips ;in downtrends, sell bounces.
6)In a Bull market, never sell a dull market, in Bear market, never buy a dull market.
7)Up market and down market patterns are ALWAYS present, merely one is more dominant. In an up market, for example, it is very easy to take sell signal after sell signal, only to be stopped out time and again. Select trades with the trend.
8)A buy signal that fails is a sell signal. A sell signal that fails is a buy signal.
(more…)
(more…)
What Does A Trader Do ?
One thing that I couldn’t accept as an attorney (for the five minutes I seriously considered that as a profession) was that I’d be confronted with the temptation to make money from projects and clients with whom I did not want to work. The wealth that is created from doing a law-job is wealth that comes from the support of, allegiance to, and active promotion of a client’s business. (more…)