Archive for June, 2009

How Your Little Voice Impacts Your Results

Tuesday, June 30th, 2009

If you say, what little voice? that is the one.

Have you noticed that when you want to do things, there is a voice of fear that wants you to stop doing what you want?

Then there is another one that tells you it is OK to go ahead and do what you want to do.

Which one do you normally listen to?

Both voices have their valid places. The fear stops you from hurting yourself. However, is it stopping you from achieving your highest potential?

I was attending a seminar and one of the speakers was talking about the ‘Latte Effect’. She mentioned that she was tired of people saying, don’t buy your Latte and save the money. She said a better question is, what can I do to afford the Latte?

What does this have to do with trading?

If you concentrate on your losses, then you are decreasing the probability of your wins on the next trade.

However, when you focus on the potentials, you are increasing the probabilities of your wins!!!

Here is to making success your habit….

What Do You Do When Things Go Wrong?

Monday, June 22nd, 2009

Have you had situations where one trade goes wrong? Then another? Then another? Pretty soon, you are overwhelmed. You can’t do anything. The harder you work, the worse it becomes. You are over your head. It feels like you are in a quicksand.

You start doubting yourself. Wondering if trading is the right business for you. It seems that your dreams are getting further and further from you. You wonder if financial independence can be real for you. You might even think that it is bunch of baloney…

If you said yes, you are not alone…

The good news is, it is possible to have financial freedom. It is possible to have the lifestyle that you want.

How can you achieve your dreams?

You can start by stopping what you are doing and get out of being in a reactive mode. Clear your mind.

Then look at the market objectively and decide if you want to be in it, or if it is best for you to be on the side for the time being.

After that, be honest with yourself and make sure that the way you are trading matches who you are. This way, you are limiting your sabotage patterns.

Remember, we all have choices in life and our choices determine our results…

Here is to making success your habit….

Taking Decisive Actions

Tuesday, June 16th, 2009

How many times have you looked at a trade and analyzed it?

Even worse, after placing the order, you started doubting yourself and asking what if questions?

Do these sound familiar? If so, you are not alone…

When you start doubting yourself, your attention is taken away from the market and you are not in your “trading zone”.

When you start focusing on the market, then you can be in your zone and manage your positions better.

I was watching a scientific experiment. There were 2 glasses filled with drinks on top of 2 stools a few feet apart. A stick was on top of the 2 glasses. The experimenter said, If you hesitate in breaking the stick, you are going to break the glasses and create a mess.

However, when you take a decisive and fast action in breaking the stick, the glasses are unharmed and you can enjoy your drink.

How are you dealing with your trades?

Here is to making success your habit….

Kung Fu Panda & Trading

Monday, June 8th, 2009

Have you seen the movie “Kung Fu Panda”? I know it is a cartoon. However, there are lessons that can be learned which apply to trading.

One of the things that happened was that Panda needed to be trained by Master Shifu to defeat a feared warrior. However, Master Shifu was puzzled by Panda. He did not know how to motivate him. He had used all the techniques that he knew which had motivated his previous students. None of them had worked on the Panda.

Finally, he came to understand what kind of leverage he could use on Panda to motivate him and was able to make him a fierce warrior.

What is the lesson? One size does not fit all!!!

If you are following a methodology and it does not work for you, it might not be the right strategy for you.

Find methods and strategies that suit your personality.

Here is to making success your habit….