A Strong Trading Mind

[amitrandive]

Day Trading: Patience Is Key

http://www.finweb.com/investing/day-trading-advice-patience-is-key.html#axzz392tW5k50

One of the best cardinal rules and day trading advice is to be patient. Patience is key, during the day, there may be many opportunities. It is best to wait for the right opportunity pursuant to your specific rules and trading plan. Sometimes you won't make any trade at all, that's why it's not always easy being patient. Most of the time you will find yourself in profitable trades as long as your patient and vigilante.

It is best to be actively involved in your trading plan and passively involved in the actual markets when starting out. If your typical trade manifests itself three times out of the week then consider yourself profitable because all it takes is one really good trade a week, unless you are scalp trading.

When you are patient, the trade you are looking for will invariably reveal itself to you. As this happens make sure to stay focused on your trading rules and stick to the plan. Another key ingredient to successful trading is visualizing what you will do during premeditated scenarios. Visualization and patience is a major one two punch to building a strong trading character.

 

[toocool]

Amitrandive and DSM

Where do you find all this great stuff man, if it wasn't here in TJ , I would have never read some of the great things

 

[DSM]

TooCool, Thanks.

I read atleast 1-2 hours on average everyday. Some of it is news, but have interest in economics, politics, world affairs, business news, psychology, philosophy, spirituality etc.... At times, I post some bits of what I have journalled and made notes of.

Todays' gem from Times of India, spirituality section :

It's given that we all will encounter pain in life. But how long we choose to suffer is optional. ( How great this quote can be.?)

From today's Economic Times, Interview with Vishal Sikka, something that I had posted in my thread a few days back :

Keep atleast one hour to reflect on things important to you. (Guess this is a call to check and to take a helicopter view on the direction we head in life)

Something from the last book 10 Questions :

You don't need to have all the answers and be always right to be happy or to make money.

Real change always begins with change in our thinking and questions we ask ourselves.

And finally :

Life is what happens while we are busy making plans. (I guess it is fair to say that if we can look back at what we have been busy and spent time for yesterday, last week and last month) will give us a general idea of how our life is generally going to pan out. Some food for thought)

Cheers.

Amitrandive and DSM

Where do you find all this great stuff man, if it wasn't here in TJ , I would have never read some of the great things

 

[amitrandive]

Amitrandive and DSM

Where do you find all this great stuff man, if it wasn't here in TJ , I would have never read some of the great things

Toocool

DSM has put that into words beautifully.If we are interested and are passionate we can surely get such articles in everyday newspapers ,magazines,etc.

"We can always find what we want,only if we look for it".

This applies to the motivating articles,quotes etc .Like DSM found it in The Economic Times.

Reading everyday like your life depends on it , is the only way to grow and change.Daily reading habits will open a world of wisdom.

The Internet is a wonderful source for such articles/quotes/material.
:thumb:

 

[amitrandive]

Do you need to wake up, Trader?

http://blog.opentrader.com/wake-up-call/

Sometimes it takes a tragedy to wake us up. We pause for a second and become aware of our mortality. What if we’re not around tomorrow? Have we really fulfilled our potential? Have we made the most of the time we have?

Are you living up to your potential? Are you growing and evolving as human being? Are you making your dreams a reality?

The beautiful thing about trading is that it’s not only a way to make a lot of money, it’s a way to master yourself and grow as a person. It takes dedication and effort, and yet what better use of our time can we make than that of realizing our full potential?

But a word of advice from personal experience. Don’t make it about empty striving. Make it about gratitude. Be thankful for what you have and with that attitude approach your dreams and ambitions. Then you’ll be realizing the potential that’s already there… instead of chasing external things that you think will make you happy. And that applies equally to life, as well as trading.

 

[toocool]

TooCool, Thanks.

I read atleast 1-2 hours on average everyday. Some of it is news, but have interest in economics, politics, world affairs, business news, psychology, philosophy, spirituality etc.... At times, I post some bits of what I have journalled and made notes of.

Todays' gem from Times of India, spirituality section :

It's given that we all will encounter pain in life. But how long we choose to suffer is optional. ( How great this quote can be.?)

From today's Economic Times, Interview with Vishal Sikka, something that I had posted in my thread a few days back :

Keep atleast one hour to reflect on things important to you. (Guess this is a call to check and to take a helicopter view on the direction we head in life)

Something from the last book 10 Questions :

You don't need to have all the answers and be always right to be happy or to make money.

Real change always begins with change in our thinking and questions we ask ourselves.

And finally :

Life is what happens while we are busy making plans. (I guess it is fair to say that if we can look back at what we have been busy and spent time for yesterday, last week and last month) will give us a general idea of how our life is generally going to pan out. Some food for thought)

Cheers.

Toocool

DSM has put that into words beautifully.If we are interested and are passionate we can surely get such articles in everyday newspapers ,magazines,etc.

"We can always find what we want,only if we look for it".

This applies to the motivating articles,quotes etc .Like DSM found it in The Economic Times.

Reading everyday like your life depends on it , is the only way to grow and change.Daily reading habits will open a world of wisdom.

The Internet is a wonderful source for such articles/quotes/material.
:thumb:

how awesome you guys have maintained your reading habits ...........its almost out of the world .........KUDOS TO YOU:thumb:

however i am not that awesome in that sense ,1st of all i have not been an avid reader .... ...........but planning to do so , i had become so mechanical in my trading and so involved that i didnt have time for anything else ............(actually its not true you always have time if you really want to) .............but now things are changing for the better .

and guess what , you guys are also huge inspiration in this reading goals for me ............i have started reading some old trading books , which i am sure most of people have read but i didnt , and some new one ......for example inner voice of trading by Michael Martin and Market wizards series by schwagger .and to tell you the truth atleast 20 more books are on the line which i have to read and i have plans to complete them in next few months now

but there is something which i need your advice guys , i am looking for some relaxation and meditation techniques which may have worked wonders with you guys , i am sure being an avid reader you must have some knowledge of this topic ,in video form or in audio form or in text , i wont be surprised if you guys do that daily as a habit too as i think it correlates to your great habits of being a very nice spiritual persons that you are :thumb:

looking forward to listen what you guys have to prescribe to me

 

[amitrandive]

how awesome you guys have maintained your reading habits ...........its almost out of the world .........KUDOS TO YOU:thumb:

however i am not that awesome in that sense ,1st of all i have not been an avid reader .... ...........but planning to do so , i had become so mechanical in my trading and so involved that i didnt have time for anything else ............(actually its not true you always have time if you really want to) .............but now things are changing for the better .

and guess what , you guys are also huge inspiration in this reading goals for me ............i have started reading some old trading books , which i am sure most of people have read but i didnt , and some new one ......for example inner voice of trading by Michael Martin and Market wizards series by schwagger .and to tell you the truth atleast 20 more books are on the line which i have to read and i have plans to complete them in next few months now

but there is something which i need your advice guys , i am looking for some relaxation and meditation techniques which may have worked wonders with you guys , i am sure being an avid reader you must have some knowledge of this topic ,in video form or in audio form or in text , i wont be surprised if you guys do that daily as a habit too as i think it correlates to your great habits of being a very nice spiritual persons that you are :thumb:

looking forward to listen what you guys have to prescribe to me

Toocool

Good to hear that we are able to rekindle the reading habit in you.
:clapping:

Seems so fantastic to hear that , we are able to inspire at least "One Human Being" and make a difference.

That is the true purpose of this thread.

Some great links available on YouTube.

One is https://www.youtube.com/watch?v=V7eUfiQKft4

For book recommendations , you can refer my thread

http://www.traderji.com/words-wisdom/93353-life-changing-books.html#post956038

 

[amitrandive]

 

[jamit_05]

Such Few-liners are mostly the reason why I visit my Facebook page.

"If you are willing, God is ready. Here's what willingness "looks like": first, you have to be open. Then, you have to be ready. Finally, you have to be determined, and committed to action. Anyone else reading this right now might wonder what's even being discussed. But you're not wondering. You know exactly what the situation is that we're talking about here."

 

[jamit_05]

Such Few-liners are mostly the reason why I visit my Facebook page.

"If you are willing, God is ready. Here's what willingness "looks like": first, you have to be open. Then, you have to be ready. Finally, you have to be determined, and committed to action. Anyone else reading this right now might wonder what's even being discussed. But you're not wondering. You know exactly what the situation is that we're talking about here."

Neale Donald Walsch, he has this ability to say things without incriminating the reader, who is already vulnerable as he realizes the fact that the results of his actions are not what was desired.

The reader is looking for ways, he is open, he is ready but probably lacks in determination, which is why he gets distracted from whats important. Which is why he let his eye off the ball.

See how he smartly got the reader to focus on his level of determination and commitment to action. NDW has a way to uplift the reader.

Nice.