1. Trading is mostly psychological than it is educational.
2. I am only getting better via experience (and losses).
3. I CANNOT predict the future of the markets but I CAN see the setups.
4. I cannot avoid losses totally but I can learn to minimize it.
5. I need a set of trading rules and I will stick by those rules, always.
6. I might break my own rules but I will bounce back, to follow them.
7. Great education does not come free but it sure can come cheap.
8. Beginner losses in trading are to be treated as educational costs.
9. I need to invest in a reliable software in order to trade like a pro.
10. My educational goal is to identify the patterns and analyses that I am comfortable with, so as to formulate my own strategies.
11.Trading and Investing are two totally different approaches within the realms of the markets. My related education will differ accordingly.
I MUST HAVE A TRADE PLAN EVERYDAY BECAUSE:
1. Doing prior homework and diligence report on the most important stocks, helps me stay away from distractions at market open.
2. Having a trade plan makes me feel MORE confident.
3. Breaking up my daily analysis into chart patterns, channels, etc, helps me visualize these same patterns faster, every other time.
4. I can easily know whether an awaited entry has failed or is ready to be taken since I have already marked out the pivots prior to.
MY STRATEGY IS SO GOOD THAT:
1. It is best suited to my exclusive emotional settings.
2. I do not need a smart ass influencing me with his/her strategies.
3. Whether it be day trading, swing trading or position trading, I do not need another smart ass telling me which strategy works best FOR ME.
4. I understand that winning trades based on MY strategy helps me build confidence as an independent trader.
5. It is built upon the unthinkable hours of dedicated study I have put, into developing them; it was NEVER built in a day or a week or a month.
I ACCEPT THAT TIMING IS EVERYTHING BECAUSE:
1. I understand that the markets are rigged to fool most people with traps.
2. Timing can mean a difference between a great entry and a losing entry, even if I am right about the overall direction of the price, eventually.
3. A great timed entry helps remove unnecessary stress and doubts.
4. It tells me whether to get out of, or to hold and wait on, a losing trade.
5. Timing is the Mother of all Risk/Reward strategies and trade entries.
6. Patience is a virtue of any trader, and Timing is its GOLDEN KEY.
A Sample Trade Chart
I AM DISCIPLINED ENOUGH:
1. To follow ONLY MY trading plan every day; not anybody else’s.
2. To get enough sleep before market open and exercise regularly.
3. To be in front of my screens before market open, every trading day.
4. To not eat or drink (especially alcohol) at the trading desk.
5. To not smoke pot, cigarettes or do drugs while I am trading.
6. To stay away from watching the markets during off-periods.
7. To not ‘show off’ my ‘trading skills’, by trading in public places.
8. To understand that there is more to life than just trading.
1. Focus is paramount to hitting the right entries, at the right times.
2. I CANNOT let my mind wander off to thinking about unpaid bills, parties, food, yesterday’s bad trade, or that hot friend I just added on Instagram.
3. Once I have established a position in a trade, I will follow ONLY that position till I am convincingly out of any potential danger.
4. When trading volatile low float stocks, even bathroom breaks are a no-no, until I have locked profits. Absolute focus is a must.
5. Since Forex or Commodities markets are round-the -clock, I have to schedule a trading period. I am aware these are very volatile instruments.
6. Focusing on a single Forex pair or Commodity trade (e.g. Crude Oil) helps me follow the chart better, and to hold a bigger position as well.
Trader | Mentor
My name is J.S.Maniam. I go by the nick ‘rexman’ or ‘rexman74’ in a few day-trading chatrooms (I am inactive at the moment). If you have known me from Stocktwits, then you know me a little better.
I have been a serious trader for close to 10 years, 6 years of full time trading. But my exposure to trading the markets goes back to before the Internet in the 90s where I was a short-lived trader’s assistant running execution errands. Forward back to the present, let’s just say that I am ready to share my experiences and strategies via a 365-day challenge blog as well as an upcoming online trading school (for the super-serious traders).
Everything but the online school, is free to access. Do follow for streaming trade posts, profit screenshots, and streaming basic lessons. Hope this blog helps you as much as I think it would.