Monday, October 15, 2007
10/15/07 Ten Task of Trading!
This is a list of the 10 task of trading that I must follow everyday in order for me to propel myself to the next level of trading (that would be profits btw).
Task 1. Daily Self-Analysis. I am the most important part of my trading so I must make a consious effort everyday to make sure I'm in the right frame of mind to trade. I will do this by having a meeting off all my parts and making sure that I resolve all my conflicts before they can effect my trading. The 2 main parts that cause trouble for me are that I don't feel like I deserve to be successful, and I think that I'm not good enough to do this. I have to work on resolving those issues everyday.
Task 2. Daily Mental Rehearsal. This is where I mentally rehearse me taking my trades and executing them properly and without delay without regard to the outcome, of which I have no idea what will be. I will visualize in my minds eye and rehearse the signals just like I have sim traded them a 1000 times before.
Task 3. Developing a low risk idea. Well.... I am still doing that but should be done with my simple holp stuff this week I hope. So far it is encouraging.
Task 4. Stalking. I will have to be patient while I wait for my setups everyday. I can only take 2 types of trades. Holp setups and JP setups. That is it. I will wait until I get one or even better both at the same time!
Task 5. Action! As the Nike commercial says now it the time to just DO IT!
Task 6. Monitoring. This is monitoring the position and using my stop/exit rules without delay or bias.
Task 7. Abort! No need to wait. If the trade isn't working then exit as per rules!
Task 8. Take Profits! Once again... if the trade is working then take profits when the rules permit.
Task 9. Daily Debriefing. After every day is over I need to do review of all my trades just to make sure that I did what I was suppose to have done. If not then I need to work on correcting that action. If I keep making the same mistake then I will review Vans' work to fix it.
Task 10. Periodic review. Just what it says... take a look at things maybe weekly to begin with just to make sure I'm doing these things correctly.
Trader X!
Task 1. Daily Self-Analysis. I am the most important part of my trading so I must make a consious effort everyday to make sure I'm in the right frame of mind to trade. I will do this by having a meeting off all my parts and making sure that I resolve all my conflicts before they can effect my trading. The 2 main parts that cause trouble for me are that I don't feel like I deserve to be successful, and I think that I'm not good enough to do this. I have to work on resolving those issues everyday.
Task 2. Daily Mental Rehearsal. This is where I mentally rehearse me taking my trades and executing them properly and without delay without regard to the outcome, of which I have no idea what will be. I will visualize in my minds eye and rehearse the signals just like I have sim traded them a 1000 times before.
Task 3. Developing a low risk idea. Well.... I am still doing that but should be done with my simple holp stuff this week I hope. So far it is encouraging.
Task 4. Stalking. I will have to be patient while I wait for my setups everyday. I can only take 2 types of trades. Holp setups and JP setups. That is it. I will wait until I get one or even better both at the same time!
Task 5. Action! As the Nike commercial says now it the time to just DO IT!
Task 6. Monitoring. This is monitoring the position and using my stop/exit rules without delay or bias.
Task 7. Abort! No need to wait. If the trade isn't working then exit as per rules!
Task 8. Take Profits! Once again... if the trade is working then take profits when the rules permit.
Task 9. Daily Debriefing. After every day is over I need to do review of all my trades just to make sure that I did what I was suppose to have done. If not then I need to work on correcting that action. If I keep making the same mistake then I will review Vans' work to fix it.
Task 10. Periodic review. Just what it says... take a look at things maybe weekly to begin with just to make sure I'm doing these things correctly.
Trader X!
10/15/07 thoughts
I have been doing nothing but self-help work for the last few months to try and get my brain re-programmed so I can trade a simple system without bias. I think I have been making progress but will find out this week as I go to real $ for a change. I will keep you updated.
Trader X
Trader X
