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-- Big Mike, Site Administrator
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Mike, these webinars on overcoming the phsychological hurdles in trrading ahve been terrific.
These are the webinars that I have gone back to more than once, as they are tremendous resource. It reinforces in me that continuous trading success is within reach of virtually anyone, including myself, but that its on me completely. In other words, if its to be, its up to me.
FT 71, Burchett, Davio, Quinto and Pandawarrior are recent ones that come to mind. If any begginning trader took 3 points form any one of these presenters, and apllied it fully, I cannot see how they couldnt become successfull, long term.
In addition to journal notations on my chart for today's trades I also implemented many other ideas learned from the webinar (Admit Fear, Plan/Prepare/Practice, Conquer Fear, Success), including:
1. Re-wrote my trading plan last night (making it good not perfect)
2. Went for a brisk 20 minute walk before trading (taking care of the physical)
3. Ate with the family and then took five minutes of quiet time before trading (taking care of the emotional)
4. Stayed true to my trading plan and rules (discipline)
5. Admitted I was fearful on my first trade (admit fear)
6. Faced my fear and was more confident on my second trade ("conquer" fear)
7. Profitable patient trading day on two trades (success)
Jeff stressed you don't have to be the same person (trader) you were yesterday. You can change it immediately by taking action to write and plan and be disciplined to it.
Awesome TTBH, congrats and way to actually put knowledge to work for your benefit, kudos and a great example! I also loved the idea of being something different NOW, TODAY. It does not necessarily take weeks, months, years, to change a behavior. Why not just start today? Good stuff.
@Big Mike, thanks as always for the webinar and recording. I really enjoyed it. No BS, short and sweet, and a good presentation.
at any level - these are free and posted with CME , Jeff Quinto
Links fixed
GETTING STARTED IN THE FUTURES MARKET
Step 1- The Importance Of Simulated Trading
Jeff Quinto gives his advice on how important simulated trading is to the beginner trader.
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"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
After going through my statistics, listening to Jeff, and reading a few posts on futures.io (formerly BMT) related to this issue, I made an additional change to my trading (and trading plan). I moved to an ATM (no touch) trade management policy.
Of course, the entries are still completely under my discretion but now an ATM handles the rest. My near term history shows too much over-management of trades and all the emotion and impatience that manifested therein.
If my stats (~60% winners) continue as they have over the past three months the ATM "insures" profitability. The inflection point for me is 50/50 (meaning if more than 50% of my trades are profitable I'm profitable, if not not - this is inclusive of brokerage commissions).
Removing unnecessary subjectivity from my trading is an important step for me. I'll tweak the ATM if the stats warrant tweaking over time.
