USAF Vet 1979-84, Retired software engineer, professional day trader. I'm a Trader's Coach with Live Traders. You can find my coaching service at link below.
Some tips to keep your trading journey on track!
The 10 Commandments of Trading Discipline:
These Commandments of Trading Discipline should dramatically improve your trading success if adopted and followed. They were developed from years of experience from trading.
1) Trade free from fundamental prejudices. Hold no judgment on a stock. Don’t try to rationalize a losing position or fall in love with a winning one. A stock may have its “Fundamental Truths,” but the “Absolute Truth” is its price.
2) Focus on proper trading strategies, and not on making money. Money is merely a consequence of skill level, or lack thereof. As long as you trade with unwavering discipline and don’t review prior trades with a berating “should have” mode of thinking. Both winning and losing trades should be reviewed during your journey towards trading mastery.
3) Develop a trading style that is consistent with your personality and philosophy. Trade your personality!
4) Determine the reward-risk ratio of each trade before entering. Risking the farm to make peanuts is unwise. Create the plan BEFORE the trade, not DURING!
5) At times the best action is no action. Don’t search for action and think that you must trade every day.
6) Trade with the trend since stock prices flow in the direction of least resistance. If a stock goes against the trend you expected, get out. When in doubt, stay out or get out.
7) There is no room for emotions in trading. Disciplined traders can observe the market from the perspective as if they are not in a position, even when they are. Do what the market is telling you, not what you think it should do.
8) Make the market come to you. If it doesn’t, step aside. Be strict, be disciplined, and be patient, and never trade when physically or mentally unfit.
9) The true battle is not with the market, but learning how to control your own emotional impulses, psychological demons, and human nature. Many internal battles of letting fear and greed interfere with logic and discipline can unfortunately result in painful losses. Keep your losses small using appropriately placed stops based on technical analysis.
10) There are no “holy grail’s,” magic software, or short cuts to success. Professional traders never cease being students of the markets. Spend time daily developing yourself to be a better person and trader and take responsibility for your own trades and actions.
I hope these “commandments” that I and many traders follow “religiously” will help you on your journey to becoming a profitable trader and investor.
If you are a struggling trader I manage a coaching group. These are the principles we manage my coaching group by. If you decide to become a member your focus will be on learning these principles and more. See this link for more information and to sign up.
https://t.co/mHcLgbOM7O
After you sign up send an email to [email protected] and I’ll send you some links to get your started.
It's laughable that everyone has freaked out and the Mets have never been more than 7 games out of the wildcard. They are currently within 4.5 games of the last wild card. It's doable with Lindor and Polanco on the horizon. Just need some consistency from the pitchers. Not saying they'll make it but the season isn't over by any means.
@PSLToFlushing Only 8 games out of a wild card spot. They are not out of it yet, but the ticker is ticking. I don't have high hopes when I see Slater batting third.
Arnold Schwarzenegger just ended CNNs Jake Tapper to his face "In New Mexico 45% of the people voted for Trump… zero is sent to the House 0 representatives for the Republican Party”
Would be a shame if this went viral on 𝕏
Thoughts......??
You know what to do 👇