My Trading Plan

[learn2trade_ar]

You won't believe how much messed up i was a few years ago. Left my job for some other thing and failed in it, started trading thinking will get rich quickly and failed miserably. It took 3 account wipe outs (more than financial it's the psychological damage that hurts) to get me into some right mind.
The normal ways of blaming others or running from issues doesn't work in the markets. So the only way is to work on yourself if you want to succeed here.
When i say that journey will be worthwhile, it's not only about money but more importantly it's about personal transformation that comes with the struggle that we go through during our journey. At least for me it has changed my view on life for better.

Fellow traders have already given much valuable suggestions, i would like to ask you for one thing though? Plz write again for 'what separates you from the masses' part again or what are your strengths(write whatever comes to your mind).

Regards

Okay, so let me give it a 2nd try by putting some more strain on my brain to figure out some positives atleast (not sure why its not allowing me to edit my original post - that edit button is not showing up):

a) can be called as hardworking (at least as compared to peers). Put in much more effort as compared to peers (probably bcoz not smart enough like them who without putting in much effort r still able to create an image as if they're working a lot)

b) very emotional person (not sure if it can be linked with positives in any way)

c) whenever I start something new, I really put in too much of energy and effort into it with lot of enthusiasm (Positive till now). But, that fizzles out very shortly. and then I really struggle to put in even bare minimum effort to sustain the task. Probably start with lot of optimism but when things does not turn out immediately as expected, I become overly negative. One more reason cud be that I really put in so much energy @ d start that probably I exhaust all my energies n enthusiasm rather 2 quickly. I think, I run it like a 100m race whereas it should ideally have been ran as a marathon (slow n steady).

d) not satisfied with average life. Always keep on thinking abt earning big. But only thinking:lol:

e) I atleast know what is going against me (very clear abt that). There might be many who don't even consciously know their negatives

 

[rahul_mail]

I agree with one of the posts that your thoughts mirror few others who are trying to get on to the path of a successful trader.

I have one suggestion for now. You are an introvert and has also done lot of introspection. One of the side effect is that there is too much focus on the negative aspects than the positive aspects. You blame yourself more for the small failures than you credit yourself for the small successes. A mindset change should be one of the first step that one has to take in such a case. Be cautious of course, but don't be overly pessimistic or hard on yourself.

 

[saakk]

Google "priceactiontradingsystem" read all the stuff and watch all the vid. on that site, I hope they help...
and for rest i second most of the thoughts you have put in your introduction, WELCOME and Best of LUCK.

 

[Vertigo_1985]

a) can be called as hardworking - absolutely essential quality to be successful in trading or anywhere else for that matter. Bootlicking or showing off doesn't work in markets, so you are in a good place.

b) very emotional person (not sure if it can be linked with positives in any way) - you will have to learn to deal with your emotions. Psychology is the most important part of trading in my opinion and also the toughest. Start reading 'Trading in the zone' by Mark Douglas and practice mindfulness daily.

c) whenever I start something new, - Try goal setting. It should be long term goals (6 month or an year) -> short term goals ( like this month) -> immediate goals (this week). Goals should be process oriented rather than outcome oriented. Also try involving your friends and family with your goals, when others are involved they can lift us when we feel weak.

d) not satisfied with average life. - that's gud, you will need some fire to keep on going. But as Modiji says ' kuch banne ke nahi kuch karne ke sapne dekho' to karm karte jayo .


e) I atleast know what is going against me - introspection is a good quality but if it's followed by negative chain of thoughts then it may lead to loss of self esteem, fear or depression. It's good that you introspect but take care that you do it in a non judgmental way. Again practice mindfulness daily.

In my opinion, before you target any of your weakness you should first know your strengths and make them as strong as you can. When you have a solid foundation you can target your weakness one by one.

Regards

 

[Tlahuicole]

I faced 16 consecutive losing weeks & 24 consecutive losing months in a row ..........

Here is a champion to get motivated , a champion is not someone who never falls down, but someone who never stays down.