Saturday, July 28, 2012

The Daily Note - Trader's $STUDY Friday IV

*****Sometimes no matter how or what we do, it's perplexing that we cannot execute a trade the way we have planned. When it happens, first examine your planning then examine your attitude. If you have prepared well for your trades and still it is difficult for you do trade well, it's a good idea to observe your thought patterns next.

A notebook then becomes essential, even if it is in the form of post-it notes. As you observe each thought, jot it down. Important also to jot down time of day, and market conditions at the time of your thought. Soon enough you'll observe a pattern. Remember that your thought pattern is unique to you, although many may identify with what your are feeling/thinking, still they cannot identify with your solar plexus (your gut)and that is why each trader is unique and cannot truly follow anyone else. Honor your uniqueness and you will become the best trader you can be.

"Feeling Good" Whenever you sit down to trade, resolve yourself to feeling good. No one can change your mood except you. Surround yourself with what makes you feel good, let go of things that don't.

"Come Fly with Me" When a trade is flying your way, be sure to keep head below clouds and feet on the ground. Make sure your alerts and stops are set and keep your targets in mind.

"Always On My Mind" Appreciate the trade you are in, not the one someone else is bragging about. There are always temptations around you for another trade, but focus on the one you have. The best chance for success is in the trade you're in, not the trade you're not.

"Fever" When a Stock is hot, it may be too hot to handle. Know what you can trade, know what you can do and you will never go astray by temptation.

"Lost" When you are lost in a trade and can't read the writing on the wall, ask for help. You are not alone! Take time to find those who will help you learn and boost you when you are down.(Moi!:)

"Quando, Quando, Quando" If you have to question "when?" You need to study the chart some more for your answer. The question of "when" is usually answered by the pattern of the chart. It's a lot like reading the stars, which were and can still be used for navigation.

"All of Me" It may be tempting, but don't put all your funds in one trade. This may be old news to many, but some still may need reminders and new traders may not realize how fast this can happen.

"Marie" Crying out the stock's name is useless & likely in desperation; otherwise it would be "yes, Yes, YES!!" Come on, do I have to expand my explanation on this one? LOL

"Save the Last Dance for Me" Forget it, a trade will never save the last dance for anyone. Learn to know when to dance & when to let go. You're deluding yourself if you think a stock will wait for you. Be ready for the last "dance" whenever it may come.

"Home" Keep reminding yourself why you are trading & go home with profits. This may be obvious, yet so many times we need to reminders to remember. Stick up a post-it!

Today's featured artist is Michael Bublé, a Canadian born Jazz singer who prayed nightly to become a singer in his teen years. But he did more than that. According you his first manager, "Bublé would do every gig imaginable, including talent shows, conventions, cruise ships, malls, hotel lounges, bars, clubs, corporate gigs, musical revues, singing telegrams, and even the occasional singing Santa Claus gig". So, remember it takes more than prayers to become the best you can be: you have to apply yourself to what to want.

For Once in My Life by Michael Bublé on Grooveshark

Happy Trading, Living and Dancing and
Be Free, Be Alive, Be Happy

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