Trading plan

I was updating my trading plan and i thought it would be a good idea to share this with you,

Trading plan template by Tim wilcox.

Link

Some advantages of using it(taken from the pdf)


• Relaxed, stress free trading that is simpler with a plan than it is without one
• Ability to monitor your progress, diagnose faults and amend the plan accordingly
• A plan helps to prevent many psychological issues from taking root
• A plan that is adhered to strictly will reduce the number of bad trades
• A plan will help prevent irrational decisions in the heat of the moment
• A plan enables you to control the only thing you can control - yourself
• Professional traders are highly disciplined. A plan will instil a large measure of
discipline into your trading. Gamblers tend to lack both discipline and a plan
• A plan will enable you to trade outside your comfort zone. How many times have
you let a loss run and cut a profit short because it was the comfortable thing to do?
A plan, executed with discipline, will help to prevent this from happening
• A plan is your roadmap which will enable you to get from wherever you are now to
wherever you want to be – i.e. consistent profitability
• The template (and, by implication, your plan) – is designed in such a way that if
you do take a ‘wrong turn’ on your roadmap, you will know about it very quickly
and have the opportunity to correct the problem before losses spiral out of control


Treat your trading like a business. Don't Gamble.


r9

Pepsi MAX & Kyrie Irving Present: "Uncle Drew"

Very nice video. Did you recognize Kyrie?

r9

Improvements for a better trading (focus, intensity)

Hello traders, how are you?

Today i would like to give a quick tip about something that helped me to trade better and to keep a good focus and intensity during the day. You will think that the idea is crazy but it helped me a lot. 

I used to have a very comfortable chair, a very expensive one, and i thought it was very good for me, but it wasn't. I can be 50 % more productive with a cheap chair as long as it is good for your back and its not very very comfortable the way you would not sleep. One thing that i learned some time ago is that one of the ways to change your mental state is the way you use your body physically. For example. That expensive and very comfortable chair made me very comfortable, so, i would have a very comfortable mental state, and my attention would be in "comfortable mode", rather than "alert mode".

For the people that say, "oh you need a very good chair that is very very comfortable because you will have back pain sooner or later" i would recommend doing more physical exercise that includes back exercises. One hour/day at least. 

Good trades guys and try the idea.

r9

Recommended film

Full time trading - from dream to reality

Hello traders, today is a great day, isnt it?

I usually dont make posts about my life but i would like to share today a good conversation that i had with my parents. The result was very good and i was not expecting it at all.

With all the crisis that Europe is facing and Greece not wanting to adapt we started talking about unemployment in our country and the future of it (Portugal). And during the conversation i started to explain my parents the things that i had in mind for my future with all that passion and usually they were very negative to agree with my perspective but this time i convinced them to trust me and give me a chance. I said that i didnt want to work 40 years behind a secretary doing something that i dont love and i explained my point that is very similar to what i learned in the book "Rich dad poor dad". The author calls it "the rat race". You work for other people. You make them rich and you will just get wealthy and have time to enjoy other things near the end of the career, if you get there. Is this want i want? NO. Most people will think that im just talking about money. I'm not. I'm talking about doing what you love to do and use the best thing we have, TIME. My parents are very successful and i respect their perspective but they play it very safe and don't have big dreams and motivation. So i asked them to trust me and they respected my decision, so, i will start trading fulltime during/after summer.

Never let your dream go away... you will regret later.


Some quotes from the book "Rich dad Poor dad"

“People do two things. Some just let life push them around. Others get angry and push back.”

"Be truthful about your emotions, and use your mind and emotions in your favor, not against yourself."

"You must be an observer, not a reactor to your emotions. Most people do not know that its their emotion that are doing the thinking. Your emotions are your emotions, but you have got to learn to do your own thinking."

"By not giving in to your emotions, you were able to delay reactions and think. That is most important. We will always have emotions of fear and greed.  From here on in, it is most important for you to use those emotions to your advantage and for the long term, and not simply let your emotions run you by controlling your thinking."

"Most people have only one problem in mind, and it’s short term."

"If they think money will solve problems, I am afraid those people will have a rough ride. Intelligence solves problems and produces money. Money without financial intelligence is money soon gone."

good trades
r9

Reading now...

"Reading is food for the mind.."

good trades
r9

Great video

Dont search for glory in the markets.
Post about money management coming later.

good trades
r9

ps: Focus strategy updated on the students blog