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Goals for Consistency

Consistency, consistency, this is one of the most important quality I wanna achieve. Here I have a set of goals pertaining to consistency. I got the material from an article sometimes ago. I have no idea who is the author. Anyway, here is the abstract and I have added my own ideas.
I want to consistently..

  • Visualize myself in tune with the market

Seeing oneself in tune with the market and apart of the ebb and flow. Great athletes constantly visualize themselves performing at their peak. In trading, which is purely a mental game, is just as incumbent upon us to do this as well and even more often.

  • Be as professional as possible.

Trading is not a pastime activity. It has to be treated seriouly , and professionally. We have to do the best job ,possible leaving no regrets at the end of the day.

  • Record my trades for review and analysis

By recording our trades and thoughts, we allow ourselves to internalize the markets actions even more and objectively analyze our own actions.

  • Look to be the agressor and proactive

Looking for setups and taking a dynamic approach to the market is critical in succedding. Those that can consistently seek out great opportunities and then execute on them are usually rewarded.

  • Following my trading plan

Having a plan is important. Being able to execute the plan is the key to success. Stick to it.

  • Be patient and hit the same high quality spots

By executing on the same game plan, we remove a great deal of the emotional turmoil that trading can bring.

At last, consistency in our approach leads to consistency in our profits!

The Psychology Of Speculation – The Disconcerting Effect Of Sudden Losses And Gains

Henry Howard Harper: ‘The Psychology of Speculation – The Human Element in Stock Market Transactions’

The Disconcerting Effect of Sudden Losses and Gains, page 17 – 19

There are but few things more unbalancing to the mind than the act of suddenly winning or losing large sums of money. A few years ago at Monte Carlo I was in company with a friend, a well known man of affairs who while there played at roulette nearly every day, merely as pastime. He was of mature age, naturally methodical, conservative, temperate and cool-headed. He made it an unalterable rule to limit his losses to $200 at any one sitting, and on losing his amount he always stopped playing. His bets were usually limited to two dollars on the numbers, and never doubled except for one turn of the wheel when his number won. He generally played three numbers at a time; never more than four. For ten consecutive sittings luck was against him and each time he had lost his stake of $200. I saw him get up and leave the room, apparently in a state of disgust. An hour or so later I discovered him at a roulette table in another room stacking his chips in piles on a dozen or more numbers. (more…)

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