Self talk for Trading

newtrader101

Well-Known Member
#11
Continuing with the thread main topic:

Adding some principles of Price Action to this self talk as PA is easy to understand. It may be important to internalize these principles so that we think along those lines on seeing a chart.

I enter only on pull backs to the EMA. In break outs, I wait for a retest of the high or low. I always trade with the trend. I confirm a trend reversal only when price breaks the trend line, and retests the previous high or low,
 
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Riskyman

Well-Known Member
#13
When I was doing my course, we all were told a simple story which I would like to share with you.

There was a boilermaker who was once hired to fix a broken boiler system in a steamship. After arriving, he listened carefully to the engineer's description of the problem. He asked a few routine questions and then went into the big boiler room. As he stood in the boiler room, he looked around at the large network of pipes carry steam, he listened to the thump of the boiler and the noise of the hissing steam as it escaped from the pipes and also felt some of the pipes with his hand. Then he murmurred to himself and reached into his large overalls and pulled out a hammer and tapped a big red valve once. All of a sudden, the entire boiler roared, the entire system began to work perfectly and the boilermaker went home.

When the steamship owner received a bill of 1000 dollars, he started to complain that the boilermaker had been in a boiler room for less than 15 minutes, and he requested for an itemized bill. Below is the itemized bill the boiler maker sent him.

For tapping the hammer ------- 0.50 $
For knowing where to tap ----- 999.50 $
----------------------------------- -----------
Total ---------------------- --- 1000.00$

:):):):)
 

VJAY

Well-Known Member
#14
When I was doing my course, we all were told a simple story which I would like to share with you.

There was a boilermaker who was once hired to fix a broken boiler system in a steamship. After arriving, he listened carefully to the engineer's description of the problem. He asked a few routine questions and then went into the big boiler room. As he stood in the boiler room, he looked around at the large network of pipes carry steam, he listened to the thump of the boiler and the noise of the hissing steam as it escaped from the pipes and also felt some of the pipes with his hand. Then he murmurred to himself and reached into his large overalls and pulled out a hammer and tapped a big red valve once. All of a sudden, the entire boiler roared, the entire system began to work perfectly and the boilermaker went home.

When the steamship owner received a bill of 1000 dollars, he started to complain that the boilermaker had been in a boiler room for less than 15 minutes, and he requested for an itemized bill. Below is the itemized bill the boiler maker sent him.

For tapping the hammer ------- 0.50 $
For knowing where to tap ----- 999.50 $
----------------------------------- -----------
Total ---------------------- --- 1000.00$

:):):):)
:):):):cool: Very nice
 

newtrader101

Well-Known Member
#15
When I was doing my course, we all were told a simple story which I would like to share with you.

There was a boilermaker who was once hired to fix a broken boiler system in a steamship. After arriving, he listened carefully to the engineer's description of the problem. He asked a few routine questions and then went into the big boiler room. As he stood in the boiler room, he looked around at the large network of pipes carry steam, he listened to the thump of the boiler and the noise of the hissing steam as it escaped from the pipes and also felt some of the pipes with his hand. Then he murmurred to himself and reached into his large overalls and pulled out a hammer and tapped a big red valve once. All of a sudden, the entire boiler roared, the entire system began to work perfectly and the boilermaker went home.

When the steamship owner received a bill of 1000 dollars, he started to complain that the boilermaker had been in a boiler room for less than 15 minutes, and he requested for an itemized bill. Below is the itemized bill the boiler maker sent him.

For tapping the hammer ------- 0.50 $
For knowing where to tap ----- 999.50 $
----------------------------------- -----------
Total ---------------------- --- 1000.00$

:):):):)
Thought provoking. Your topic is vast enough to merit a thread for itself. Members can ask their qns as well, learn about the experiences of clients, and about quality institures that impart training in India.

I have used therapists. One of them was quite helpful, though some I found too business minded. The former's services I used until I felt, if I didn't take charge of my mind, I'd be dependent for life. He helped me reach that point.
 
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Riskyman

Well-Known Member
#16
Thought provoking. Your topic is vast enough to merit a thread for itself. Members can ask their qns as well, learn about the experiences of clients, and about quality institures that impart training in India.
You are doing a good job so far. So, kindly continue posting your thoughts here. I will be happy to share my views if I have any.


I have used therapists. One of them was quite helpful, though some I found too business minded. The former's services I used until I felt, if I didn't take charge of my mind, I'd be dependent for life. He helped me reach that point.
Sadly, in our country we do not even have top class government trauma centers to treat accident victims, let alone treating someone with depression or a bug in the mind. Yes! You are very right. It is a commercial world out there. There is no difference between a surgeon or therapist or a physician. They all could be business minded. And then, there the good guys who value their clients well being more than anything else. We just cant tell who is who unless we give them a try.

Edit: Feel free to ask questions if any. Ill be happy to answer.
 

newtrader101

Well-Known Member
#17
Continuing with the thread main topic:

Adding some principles of Price Action to this self talk as PA is easy to understand. It may be important to internalize these principles so that we think along those lines on seeing a chart.

I enter only on pull backs to the EMA. In break outs, I wait for a retest of the high or low. I always trade with the trend. I confirm a trend reversal only when price breaks the trend line, and retests the previous high or low,
I trade only one instrument and one strategy and one time frame until I feel I'm comfortable using the strategy.
I memorise important price levels- these are usually the previous highs, lows, and congestion areas. Today's open, high, low, and previous day's close are also important levels.

I avoid trading when I am not well - emotionally or physically.

If I am winning, I do not increase my capital overnight. I increase it gradually, or I use only the profits to reinvest.

By strictly following the entry rules, I might miss some entries (e.g- when pull backs dont happen)--but this minimises my losses if and when a trade fails.
 
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newtrader101

Well-Known Member
#18
You are doing a good job so far. So, kindly continue posting your thoughts here. I will be happy to share my views if I have any.

Sadly, in our country we do not even have top class government trauma centers to treat accident victims, let alone treating someone with depression or a bug in the mind. Yes! You are very right. It is a commercial world out there. There is no difference between a surgeon or therapist or a physician. They all could be business minded. And then, there the good guys who value their clients well being more than anything else. We just cant tell who is who unless we give them a try.

Edit: Feel free to ask questions if any. Ill be happy to answer.
Doing so will not give the importance which is due to the subject of Hypnotherapy and will also distract from the thread topic of Self-talk for Traders.
 

newtrader101

Well-Known Member
#20
I trade only one instrument and one strategy and one time frame until I feel I'm comfortable using the strategy.
I memorise important price levels- these are usually the previous highs, lows, and congestion areas. Today's open, high, low, and previous day's close are also important levels.

I avoid trading when I am not well - emotionally or physically.

If I am winning, I do not increase my capital overnight. I increase it gradually, or I use only the profits to reinvest.

By strictly following the entry rules, I might miss some entries (e.g- when pull backs dont happen)--but this minimises my losses if and when a trade fails.
I do not take counter trend trades until after:
  1. The break of an important trend line, and then
  2. I look for one more move to re-test that new high/low, and then
  3. Wait for prices to move to the other side of the EMA
 

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