A Strong Trading Mind

[amitrandive]

Good Trading routine
http://digitalexpats.io/daytrading-how-to-master-the-beast-of-its-own/

• I prepare myself with a yoga session and an HIIT bodyweight workout in order to decrease tension and increase patience. No workout, no trading. I tracked the different performances after working out and after not working out in my journal – the differences are astonishing, to say the least.
• I look at 10 of the past setups I took in order to remind myself of what I am looking for.
• I have a stop loss of 2R for the day. That means, if my first two trades are losers, I will shut down my laptop and walk away.
• No one can tell me that they can focus longer than 4 hours and pay all their attention to the markets, absolute bogus. You have to take breaks.
• 8 hours on the M5 timeframe with 6 currencies means I have to make 8x12x6 = 576 decisions per day whether to enter the market or not. Plenty to choose from. Knowing this will keep your overtrading in check.
• I listen to music or podcasts while trading, but I never fiddle with it while trading. The playlist has to be set-up before the session.
• Every time before entering a setup I wait for a second and ask myself is this the best possible play I can make, is this the AAA setup I am looking for? Saved me many times.
• When I feel on tilt, become bored, unfocused, whatever, I get up and walk around the room for a minute, take a look out of the window. If that doesn’t help, I will abort the session and do something else.
• Every time I take a trade I remind myself of my win rate and that there WILL be losers. 4 out of 10 trades will be losers. Deal with it. It’s part of the business. Reminding yourself of this fact can deal with tilt effectively. It’s the cost of doing business.
• I never do a session review right after the session. I will do a workout or eat something after trading and let my mind calm down to reach an objective state of evaluation. Then I enter my trades into the journal and review my decisions.
• I have lots of sticky notes all around my screen which I read all the time when trading, reminding me of my biggest flaws and urging me to ship around them.
• I NEVER look at my P&L during the day. I look at it after the day. Looking at your P&L will make you trade your P&L, and that is by far the worst any trader can do.

 

[gopalmohansharma]

Hello People,
To become a successful trader, you must have the proper trading psychology. Developing the proper discipline within each aspect of trading will take time, but is completely possible with a little effort. Learn from your mistakes and from your profit. Build a game plan before buying and shorting a stock. Keep it super simple. Treat trading like a job or business not like investing.
Quantifying the fear might help. Devote as much time as possible to the research process, That means studying charts, speaking with management, reading trade journals or doing other background work so that when the trading session starts the trader is up to speed. A wealth of knowledge could help the trader overcome fear issues in itself, so it's a good tool. Keep experimenting with new things from time to time.
Greed is your worst enemy. There's an old saying on Wall Street that "pigs get slaughtered." This greed causes the investors to hang on to winning positions too long, trying to get every last tick. This trait can be disastrous to returns because the trader is always running the risk of getting blown out of a position. Do an honest assessment and work within skills and psychology.
Work hard, give freely. Make money. Have Happy Trading..

 

[vijkris]

If you keep trying, good things can happen

http://timesofindia.indiatimes.com/...o-a-4-billion-cheque/articleshow/51406718.cms

 

[gopalmohansharma]

Hello,
To become a successful trader, you must have the proper trading psychology. Developing the proper discipline within each aspect of trading will take time, but is completely possible with a little effort. Learn from your mistakes and from your profit. Build a game plan before buying and shorting a stock. Keep it super simple. Treat trading like a job or business not like investing.
Quantifying the fear might help. Devote as much time as possible to the research process, That means studying charts, speaking with management, reading trade journals or doing other background work so that when the trading session starts the trader is up to speed. A wealth of knowledge could help the trader overcome fear issues in itself, so it's a good tool. Keep experimenting with new things from time to time.
Greed is your worst enemy. There's an old saying on Wall Street that "pigs get slaughtered." This greed causes the investors to hang on to winning positions too long, trying to get every last tick. This trait can be disastrous to returns because the trader is always running the risk of getting blown out of a position. Do an honest assessment and work within skills and psychology.
Work hard, give freely. Make money. Have Happy Trading

 

[amitrandive]

We all have possibilities we don't know about. We can do things we don't even dream we can do. -Dale Carnegie

 

[amitrandive]

 

[amitrandive]

There are only two steps to success: Discover your brilliance and perfect it. Doing this will allow you to receive the wealth you truly deserve. The only waste of human resources is letting them go unused.-Jim Rohn

 

[amitrandive]

Turning Stress into Success
http://www.success.com/article/3-rules-for-turning-stress-into-success

Stressed? Author and speaker Denis Waitley shares three guidelines to transform negative anxiety into positive success. Follow these rules and take action now to let go of your stress.

1. Accept the unchangeable. Everything that has happened in your life to this minute is unchangeable. It’s history. The greatest waste of energy is looking back at missed opportunities and lamenting past events.

Grudge collecting, getting even, harboring ill will and vengeful thinking do no good. Success is the only acceptable form of revenge.

By forgiving your trespassers—whoever or whatever they are—you become free to concentrate on going forward with your life and succeeding in spite of those detractors. You will live a rewarding and fulfilling life. Your enemies, on the other hand, will forever wonder how you went on to become so successful without them and in the shadow of their doubts.

Action idea: Write down on a sheet of paper things that happened in the past that bother you. Now crumple the paper into a ball and throw it. Really. This symbolizes letting go of past misfortunes.

2. Change the changeable. Change your reaction to what others say and do, and you can control your own thoughts and actions by dwelling on desired results instead of the penalties of failure.

The only real control you have in life is your immediate thought and action, and because most of what we do is a reflex—a subconscious habit—it’s wise not to act on emotional impulse. In personal relations, it is better to wait a moment until reason has the opportunity to compete with your emotions.

Action idea: Write down one thing you will do tomorrow to help you relax more during and after a stressful day.

3. Avoid the unacceptable. Go out of your way to get out of the way of intolerable or perilous behaviors and environments.

Take these examples: When people tailgate you on the freeway, change lanes. When there are loud, obnoxious people next to you at a restaurant, change tables or move locations. When someone is being a Debbie Downer, complaining about this and that, excuse yourself and walk away.

Always be on the alert for negative situations that can be dangerous to your health, personal safety, financial speculation and emotional relationships.

Action idea: What is one unacceptable habit you or others have that you will avoid starting tomorrow?

A little stress is good, too much stress is bad, and understanding it can be everything.

 

[Blackhole]

 

[Blackhole]

Special Heroes the be t t e r india. c o m

What started as a compulsory activity in school changed Sharath Gayakwad’s life and he became the first Indian to win six medals in a multi-disciplinary sport event at the Asian Para-games in Incheon, South Korea, 2014. He broke the record of legendary P.T. Usha who had won five medals at the 1986 Asian Games.

Sharath Gayakwad won four golds in his first nationals. Picture Source: MikeLynch / Wikipedia


In spite of being born with a deformed left hand, Gayakwad was always interested in sports and took up swimming at the age of nine when it was made mandatory in his school as a life-saving skill.