Friday, January 11, 2008

Un-learn & Re-learn the basics of trading

Objective :
Learn how to trade, not to invest

Start Right:

  1. un-learn, re-learn the basics
  2. get to know yourself! what kind of trader you are.
  3. foundation foundation foundation...forge it firmly
  4. form a group, join a group, do whatever it takes to float around traders, to grow & advance beyond the basics
  5. paper trade as long as it takes to build up confidence, get motivated, and build up stamina to stay on course
  6. Stop kidding yourself that you can be like your guru after attending a 3~4days seminar!
Defensive Thinking, Defensive Mode:
Always look for an excuse not to trade (Process of elimination and minimizing risk)
If you are in the trade, always find an excuse not to stay at the trade.

Golden Rules:
implant Right habits
Stick to the guideline, & your strategy
do Programming Trading
be comfortable to practice cut loss
practice and establish consistency

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