05-02-2017, 03:09 AM
(This post was last modified: 05-02-2017, 03:19 AM by Dilettante.)
I tried it as a solo business (fx trading) but my losses piled up quick and i had to stop trading or lose all my capital.
there's a 3g trading sub here but it wasnt on sale at the time I was trading so I didn't use it.
since you already trade, some of these may be familiar to you:
- always cut your losses early, dont let it ride and think it'll recover
- have a healthy respect for the market, that is to say no one is smarter than the market.
- don't be ego-invested. take your losses (hopefully minimal) & move on much like when a hockey goalie allows a goal, its already forgotten by the next faceoff.
- there will be bad days, like a hockey goalie - learn to call it a night and pull out if things just arent going well - you'll save money by saying today isnt your day and ending your trading session early.
- hit for singles, not daily targets or home runs. a $50 win is better than a $200 loss. be grateful for the wins and dont be greedy by having daily targets or overcompensate by over-trading (my target was $300 per day, i met that target 3 times in 6 months) or massive home runs (i once had a $1700 gain on a trade and went south the following day cuz i got too overconfident and greedy).
- meditate before and after the trading session. this is key - set aside some time for visualization and meditation. this came late in my trading adventure but its very crucial as it sets the right tone for the day and the after trading day meditation allows you to release anxieties or lingering ego investment and allows you start fresh the next day. & most importantly, meditation allows you to have a deliniation in life and leave the trading behind after the day and live the rest of the day in your life.
edit: spelling
there's a 3g trading sub here but it wasnt on sale at the time I was trading so I didn't use it.
since you already trade, some of these may be familiar to you:
- always cut your losses early, dont let it ride and think it'll recover
- have a healthy respect for the market, that is to say no one is smarter than the market.
- don't be ego-invested. take your losses (hopefully minimal) & move on much like when a hockey goalie allows a goal, its already forgotten by the next faceoff.
- there will be bad days, like a hockey goalie - learn to call it a night and pull out if things just arent going well - you'll save money by saying today isnt your day and ending your trading session early.
- hit for singles, not daily targets or home runs. a $50 win is better than a $200 loss. be grateful for the wins and dont be greedy by having daily targets or overcompensate by over-trading (my target was $300 per day, i met that target 3 times in 6 months) or massive home runs (i once had a $1700 gain on a trade and went south the following day cuz i got too overconfident and greedy).
- meditate before and after the trading session. this is key - set aside some time for visualization and meditation. this came late in my trading adventure but its very crucial as it sets the right tone for the day and the after trading day meditation allows you to release anxieties or lingering ego investment and allows you start fresh the next day. & most importantly, meditation allows you to have a deliniation in life and leave the trading behind after the day and live the rest of the day in your life.
edit: spelling
