Sunday, September 16, 2012

Stocktrader wisdoms

Just repeating some old lessons and want to share experiences.:)
Take complete responsibility in your actions.Don't blame someone else,it's only you.Close the door to excuses behind you.
Employ a system and equipment that fits you.
Plan a trade and trade a plan.
Work hard and learn in the beginning to trade properly,work harder.
Positive self belief.
Trade in score and points,not in money.
keep trading a part of a balanced life,in my case-stick to live modest.
Note your actions down,keep on learning.
Follow your rules (3rd.) without exceptions.
Stick to your system and improve it.
Eliminate all emotions from trading.
Never count in money while working but only in percentage of you trading capital.Then it makes no difference if trading with 500$ or 500 thousand Dollar.

Keep wisdoms in mind like:
Many people,many opinions.Therefore don't ask others about their opinion.If you aren't sure about a particular position-close it.It's only your responsibility.Most people like to be told what to do.That's a reason so many are failing!
Focus on your plan.No trade without a plan.Stick to your key-points and stop loss marks,not on the current movement of the quote to make the trading more stress free and tactical.

Buy panic,sell euphoria.
I just want to get away of the stressful day-trading and switch to short therm position trading to gain more free time,to make my work less stressful but at least as successful.Therefore I am working on changing my mindset the last few days,kinda hard work too.:)

A very helpful Youtube video on the topic: I just never stop learning and use bad market conditions to educate myself further.The video definitely did bring up some weaknesses to my attention and pointed me in the right direction to further progress.:)
"Life is learning."

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