Friday, June 27, 2008

Friday Day Trading: Just My 2 Cents!!


You know that I have tried to bring back a lively discussion to this forum. I have shared my ideas and have tried to bring some fun to trading. I have tried to give a honest and clear way that I approach Day Trading. Never once have I asked for money or tried to promote anything on this forum. My blog is my own business, and if I want to share what I believe is the difference maker, then that Is my decision to make.

I suppose that you know you have arrived as a trader when you are called names. I have always given credit, where credit is due. I have spent my money on various methods to learn how to be a successful trader. I believe growing as a trader is a continual process and adventure. Any one that claims they are a MASTER TRADER, I would guard your wallet. Any one that shares his/her opinion, but will not back it up with actual trading, you should be wary, and your RED FLAG ALARM should be sounding off in your head.

Now, let me get this clear right now, I am not saying that my way is the only way to trade, but what I have found works for me and my trading.

In Markus Heitkoetter’s new book, The Complete Guide To Day Trading, he shares on page 227, “The Three Secrets to Day Trading Success.”

1. Secret 1: Trading In The Right Direction
2. Secret 2: Always Know When To Exit A Trade
3. Secret 3: Trade The Right Market

Now truly are these secrets new to the veteran trader? No, but to the NEWBIE trader, then this answer could be yes.

I believe becoming a trader or Day Trader for that matter is a journey. It can be long, medium, or very short, but it is an adventure nonetheless. The difference maker I believe is in your BELIEF SYSTEM or your confidence level in your trading method or system of trading.

On the previous page of Markus’s book page 226, he lays out what he believes is an important component to becoming a successful day trader or trader.

He says, and I quote …

“The “Law of Attraction” says that “you get what you think about.” Here’s how to avoid negative emotions and to have a positive attitude:

Write down 10 “I Am” statements. These statements should reflect who you WANT to be, not necessarily who you are now.

Here are some examples of “I Am” statements:
1. I am a disciplined trader who follows his trading plan.
2. I am cool and relaxed when I am trading.
3. I am in control of my emotions.
4. I am a profitable trader.

Read these “I Am” statements every morning before you start trading. Read them aloud and read them like you mean it. Do it for two weeks, and I promise, you WILL notice a difference.”

End quote.

There is a price to pay for sharing your ideas, not everyone will agree with you. I am fine with disagreement, but resorting to name calling to make a point is totally uncalled for, and in my humble opinion, very immature on the poster’s part.

With this being said, I too am human and try as much as I do, things do get under my skin at times. I have my own way of coping with them and then letting go. I try my best not to answer insult with insult, but I also remember I am just a human being, as well.

If it is the person’s intention to run me off, well I am not going unless the moderator of the PUBLIC FORUM says to leave, or I am not welcome. Only then, will I take my ball and go home. (TRADING METHODS)

I will continue to do my best to rise above any name calling on any poster’s part. If a person has some constructive criticism, then I am fine with that, but to insult and name call is simply wrong no matter who you are or think you are.

And that, Ladies and Gentleman is my two cents on this subject. Now back to trading!!

Good Trades,

David AKA Tiger

P.S. You can buy Markus Heitkoetter's book at Amazon.com, you can the link to it on the right side under book recommendations.

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