Wednesday, April 6, 2011

Day trading course notes to my traders.

[caption id="attachment_3673" align="alignleft" width="183" caption="day trading - falling off my bike"]day trading - falling off my bike[/caption] Hello traders,   have you ever fallen off a bike? Most of us who have ridden a bike have fallen off at least once.  Trading is the same.  Most of us that are long term traders, some times "fall off of the bike" too. Trading is one of the most dynamic environments you will ever be involved in.  It traps the mind in to thinking that there are rules that will work all the time,  That you are making mistakes and don't know what you are doing. It really feels like it accelerates life. I received an email this week from a student that fell off the bike a few years ago, she said that she is willing to get back on and that for some reason, she doesn't have the "self destroying expectations" that she had before.  She went on to tell me that she has been taking some of our system trades at lunch time and is profitable "just a little bit" but she feels more confident this time. Giving yourself the space to "ease into" being a trader sometimes takes a few hard falls on your bike.  Are your expectations of your self keeping your from getting on the bike again?  What if you could relax those a bit, so you can practice pedaling a bit more? Any one else getting back up? I would like to commend her on the first competency of a trader, "Courage".  The courage to get back up after taking a fall. email me if you would like a hand getting back on the bike. Joel PS. this applies to things outside trading too. An outside comment,  Don't trade sick.  I had this driven home this week as I [...]

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