“It is easy to have calmness in inactivity, but calmness in activity is true calmness.” Wise words by zen master Shunryu Suzuki. Some weeks ago I made the experiment of going a full day in silence. Not uttering a word, not even a sound. Also no texting, no emails, no social media. To say it was challenging is an understatement!
However, it was a valuable experience because it brought home to me something profound. First, just sitting still and being Continue reading
Yes, there are times when I’m better off not trading. There are times when I should just concentrate on other things and leave the charts for a while.
How can I know if I am in a situation where I should just push through, carry on, put in the effort and not give in? Or if I am in a situation where the best thing I can truly do is to take a break?
Here’s the quick and dirty answer: If you’re Continue reading
I aspire to become a Master Trader. And so, I think, do a lot of traders. But what does it actually mean?
What follows is an account of my personal discovery process around this question – and what I have discovered.
It is easy enough to look at the Masters and say Continue reading
In trading, one of the prerequisites of success is to be able to do with consistency that which feels unnatural and uncomfortable. Since becoming a Master Trader is my goal, and since my natural tendency is towards careful planning and staying well within my comfort zone, I am often challenged on my path.
The other night I met with a friend and I showed him my Definite Major Purpose (DMP) that I have written down in less than 400 words (yes, part of a self development program which I can highly recommend). He read it carefully and said “It is well written, very clear, and inspiring. But does it help you to get out of your head, out of your planning, and out of your comfort zone? Because you need Continue reading
We all make mistakes. I have read that how good a trader you are is a function of how many mistakes you make. The Master Trader makes very few mistakes, that’s why he’s a Master!
Initially, I made a lot of mistakes, as I guess most people do when they start out. With time, I’ve been able to learn from my mistakes and as a result, I’ve been able to prevent myself from repeating them. I’ve found that I learn best from my mistakes when I really take the time to write down an analysis of the mistake; what exactly happened; what caused it; what can I do to prevent it happening again?
Today I made a mistake, and I thought I’d make my thought process public. Maybe Continue reading
Do you know when not to trade? Yes, there are times when you should not trade. Trading is above all else, a mental game. Your toughest opponent, your most terrifying enemy, the one bent on breaking you – is you!
I have certainly felt this many times. When I’m on top of my game, when I’m feeling good, when I’m calm, well rested, healthy, focused on the markets in front of me, that’s when Continue reading
Happy New Year! May the new year bring us all peace and prosperity! The year 2016 was good to me. I finished the year in the black, and more importantly I found a great mentor who is still helping me along the way to consistency.
I titled this post “outlook”, Continue reading
Slow and steady wins the race. So the saying goes, and everyone says there is some truth to that when you’re building a trading career. While we all want to start making big money sooner rather than later, I also have come to know myself well enough to realize that I need to adjust gradually to becoming a Master Trader.
There’s another saying: If you win a million dollars Continue reading
That’s the question. More precisely: When building a trading business from scratch, what is the best way to do it? I see two possibilities. Either sit down to trade every day, all day, getting as much experience as possible in as short a time as possible – adhering to the philosophy of “total immersion”. Or rather, Continue reading
One of the things I have understood from all the books I’ve read about trading and from the conversations I’ve had with great traders is this: In order to become a professional trader, you have to put in the effort, the time, the money, and most importantly you have to decide to become a pro.
I understood this a long time ago, but I did not apply it. Why? Because I could not find an answer to this question: Continue reading