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7 Habits of a Successful Trader
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7 Habits of a Successful Trader

  #11 (permalink)
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OK, pretty good but somehow, after putting it ALL together in these posts, it just wasn't quite as good as I had recalled

Still, pretty good ideas for beginning traders, I hope ya'll got something out of it.

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  #12 (permalink)
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Great Great write up I read most of it, not every word and detail, but I will for sure be reading this again.
Inspiring and putting trading in a great perspective.

Thanks a lot on the write up

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  #13 (permalink)
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Excellent posts!

One thing though...I have never quite understood why some traders say that successful trading is boring.
There's some degree of satisfaction that I get from being good at my job. Being good at something shouldn't be
boring. Making great trades never gets old. I doubt a pro baseball player never gets bored or tired of hitting home runs. I bet the Yankees never get tired of winning. I also bet they don't think they have enough championships. I doubt any of the players have ever said, "We have too many championships, we don't need anymore". I don't necessarily hit home runs ever day. I take what the market gives me although I do hit home runs from time to time. I'm satisfied and happy for the successful trades and of course I'm disappointed when a trade doesn't quite work out. That doesn't mean I dwell on it or let it bother me. I move onto the next trade, the same way that a baseball player moves onto the next game after a loss. If trading is boring, then go try finding a cure for cancer. That should keep you occupied!

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  #14 (permalink)
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Massive l View Post
Excellent posts!

One thing though...I have never quite understood why some traders say that successful trading is boring.
There's some degree of satisfaction that I get from being good at my job. Being good at something shouldn't be
boring. Making great trades never gets old. I doubt a pro baseball player never gets bored or tired of hitting home runs. I bet the Yankees never get tired of winning. I also bet they don't think they have enough championships. I doubt any of the players have ever said, "We have too many championships, we don't need anymore". I don't necessarily hit home runs ever day. I take what the market gives me although I do hit home runs from time to time. I'm satisfied and happy for the successful trades and of course I'm disappointed when a trade doesn't quite work out. That doesn't mean I dwell on it or let it bother me. I move onto the next trade, the same way that a baseball player moves onto the next game after a loss. If trading is boring, then go try finding a cure for cancer. That should keep you occupied!

Pro baseball player's aren't "good" at their job. They are world class players. Any professional sports player is amongst the top ranked in the world. Those guys have immense drive and determination to be the best at whatever it is that they do. The amount of years dedicated to that pursuit is both admirable and intimidating, but this is why only the few are worthy.

Also, performance disassociation is in every activity. Not to blow my ego up, but I do a weekly performance at a local spot and I have gotten up to 1500 people to see me perform. During the midst of it, I try to hit my rhythms and really do a spectacular show but that is only sometimes. But regardless, after almost every show people still come up to me to say how inspiring, amazing, stunning, and/or impressive it was. Almost every time, I think of how I could have done better and each time I go home to practice to ensure I do better than the last time as well as to stay better than the guys trying to do a better, more technical yet more flashy show than me.

We should all aim for that disassociation from our trades. Make and stick to the plan. And practice your ass off to get better and better and better. Aim not for good, but world-class. Discipline, dedication, perseverance, and hard work will make you world class. Maybe not next week, or next year, but when you are supposed to be.

Many thanks to the site and all the contributors. Great source of info.
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  #15 (permalink)
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Massive l View Post
Excellent posts!

One thing though...I have never quite understood why some traders say that successful trading is boring.
There's some degree of satisfaction that I get from being good at my job. Being good at something shouldn't be
boring. Making great trades never gets old. I doubt a pro baseball player never gets bored or tired of hitting home runs. I bet the Yankees never get tired of winning. I also bet they don't think they have enough championships. I doubt any of the players have ever said, "We have too many championships, we don't need anymore". I don't necessarily hit home runs ever day. I take what the market gives me although I do hit home runs from time to time. I'm satisfied and happy for the successful trades and of course I'm disappointed when a trade doesn't quite work out. That doesn't mean I dwell on it or let it bother me. I move onto the next trade, the same way that a baseball player moves onto the next game after a loss. If trading is boring, then go try finding a cure for cancer. That should keep you occupied!


The daily execution of trades to me is boring. Does not excite me at all when I am in a trade. It may win it may lose does not matter. This is a good thing because there was a time when I felt great emotion which is not a good thing in trading. End of year having an account that has grown nicely does give me satisfaction.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #16 (permalink)
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JohnnyAustin View Post
-

That's something hopefully everyone understands.
There's always someone that's working harder or smarter than you.
There is a big difference between good and great. I like to be humble.
I'll say I'm pretty good. Someone else can be the judge

Also, my post concentrated around satisfaction and the correlation between traders saying that successful trading is boring. You seemed to deviate from this topic.

Do you think that a pro baseball player is more satisfied after hitting a home run than a trader after closing down his platform after a successful 15point /TF day?

How would you measure the difference? I don't believe you can. It doesn't matter what you do, it's the feeling that it brings you. A 13 year old kid in little league that hits a home run can be just as excited and feel the same feelings as a pro baseball player that hits a home run.

My point is, it never gets old when you get the results you want.


liquidcci View Post
The daily execution of trades to me is boring. Does not excite me at all when I am in a trade. It may win it may lose does not matter. This is a good thing because there was a time when I felt great emotion which is not a good thing in trading. End of year having an account that has grown nicely does give me satisfaction.

I definitely agree with you there. I do get bored waiting for the pieces to my puzzle to align to execute a trade.
My system is not automated like yours.
However, it is and has been a great system for me the past 4 months. It took me two years and 4000 hours + of screen time. Only time will tell I suppose.
I'm constantly tweaking and improving the mechanical process. The overall concept is still the same though.

I don't show too much emotion while trading. What helps me a lot of times is doing live trades. I put it out there so it's concrete and I let price run it's course. I of course do feel emotion at the end of the day when I've made a great trade. The platform is closed so I can let it out for a few minutes. The satisfaction it delivers never gets old. I do enjoy it very much or I wouldn't keep doing it.


Last edited by Massive l; July 29th, 2011 at 02:03 PM.
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  #17 (permalink)
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I agree in that the difference cannot be measured. But I feel it also depends on the person. Pulling a 15 point TF day would be a great day in the eyes of some, but not in the eyes of others. It is all relative. Some would be satisfied, others would be scared of the results and not believe them, and yet still some would be wondering why they didn't get 15.5 or 16 points. Aiming to be the best for ourselves and to be better than the day previously, could be one of the greatest attributes for those determined and driven towards success.

Many thanks to the site and all the contributors. Great source of info.
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  #18 (permalink)
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Here is the PDF y'all...

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