Ten Rules for Successful Trading

Advice from the Professional Traders at T3 Live 

Being a profitable trader is all about developing a healthy state of mind. Most traders never end up making consistent money because they cannot achieve self awareness. In sports, it's called “the zone,” knowing when you should be aggressive or when you should take a step back. Most traders blow up their accounts once (if not multiple times) before becoming consistently profitable. 

To get into the professional “zone,” we abide by trading rules. These rules are not meant to make you conservative or hesitant by any means. The best traders are confident types of people who discipline themselves by following steadfast rules. Having rules should help increase your confidence when you get into a trade. If you have a plan, you will never sit idly by as your capital dries up or withers away. The only way to become consistent and achieve longevity is to abide strictly by a set of rules that will help shape your trading to meet your personal goals and objectives. 

These rules are guidelines and should be used to help you with your own trading business: 

1. Trading is simple, but it's not easy. If you want to be a trader, leave blind hope at the door. Focus on specific set ups and stick to your stops. Trading is a business and you will have to work hard for every dollar you make. 

2. Trading should be boring. Thrill seekers and impulse traders ultimately will fail. While they may see some big days, failure is a matter of when, not if. 

3. Be extremely in touch with your emotions. Always be brutally honest with yourself. Note when you are acting based on primitive emotions rather than rational thought. If you find yourself yelling at your computer screen, ask yourself, "is this rational?" 

4. Be cautious when you feel yourself getting too excited. Excitement is an emotion, and can greatly increase your risk because it can cloud your judgement. 

5. Be patient and wait for trades to come to you. Chasing prices only increases risk and diminishes possible reward. Don't beat yourself up over a missed opportunity if you cannot get a price you like. Remember, the markets will be open tomorrow and there are always going to be more opportunities. 

6. Manage your expectations. If you come into trading with the idea of making big money, you are already doomed. A greedy mentality is responsible for almost every trader blow up. 

7. Don't focus only on the money. Focus on executing trades well. If you are getting in and out of trades according to your game plan, the money will take care of itself. 

8. Never let a day trade turn into an overnight trade. An overnight trade should be planned as an overnight trade before the trade is even entered. Know the difference between your time frames in which you are operating. 

9. Professionals, those who stay in the business the longest, always take small losses. Not admitting you are wrong and taking a massive loss can damage your psyche and confidence as much as your account balance. Trust in your stops. 

10. Poor traders always think, “how much money can I make on this trade?” The best traders always think, “how much money can I lose on this trade?” Traders who control and manage their risk take money from the traders who are thinking about the Ferrari they are going to buy when in the trade.

Source: www.eshow.moneyshow.com

Quote for the day

“Whenever your mind is totally absorbed in whatever activities you are performing, your mind will remain calm and content.” - Chin-Ning Chu

30 Small Habits To Lead A More Peaceful Life

By Charlene Decesare

In today’s world, true peace must come from within us and our own actions. Here are 30 small things you can do on a regular basis to increase your overall sense of harmony, peace, and well-being:

1. Don’t go to every fight you’re invited to

Particularly when you’re around those who thrive on chaos, be willing to decline the invitation to join in on the drama.

2. Focus on your breath

Throughout the day, stop to take a few deep breaths. Keep stress at bay with techniques such as “square breathing.” Breathe in for four counts, hold for four counts, then out for four counts, and hold again for four counts. Repeat this cycle four times.

3. Get organized and purge old items
A cluttered space often creates a cluttered spirit. Take the time to get rid of anything you haven't used in a year and invest in organizational systems that help you sustain a level of neatness.

4. Stop yourself from being judgemental

Whenever you are tempted to have an opinion about someone else’s life, check your intentions. Judging others creates and promotes negative energy.

5. Say ‘thank you’ early and often

Start and end each day with an attitude of gratitude. Look for opportunities in your daily routine and interactions to express appreciation.

6. Smile more

Even if you have to “fake it until you make it,” there are many scientific benefits of smiling and laughing. Also, pay attention to your facial expression when you are doing neutral activities such as driving and walking. Turn that frown upside down!

7. Don't worry about the future

As difficult as this sounds, there is a direct connection between staying in the present and living a more peaceful life. You cannot control the future. As the old proverb goes, “Worry is like a rocking chair. It gives you something to do, but it won’t get you anywhere.” Practice gently bringing your thoughts back to the present.

8. Eat real food

The closer the food is to the state from which it came from the earth, the better you will feel in eating it. Choose foods that grew from a plant over food that was made in a plant.

9. Choose being happy over being right
Too often, we sacrifice inner peace in order to make a point. It’s rarely worth it.

10. Keep technology out of the bedroom

Many studies, such as one conducted by Brigham and Women’s Hospital, have connected blue light of electronic devices before bed to adverse sleep and overall health. To make matters worse, many people report that they cannot resist checking email and social media when their cell phone is in reach of their bed, regardless of the time.

11. Make use of filtering features on social media

You may not want to “unfriend” someone completely, however you canchoose whether you want to follow their posts and/or the sources of information that they share.

12. Get comfortable with silence

When you picture someone who is the ultimate state of peace, typically they aren’t talking.

13. Listen to understand, not to respond

So often in conversations, we use our ears to give us cues about when it is our turn to say what we want to say. Practice active listening, ask questions, process, then speak.

14. Put your troubles in a bubble

Whenever you start to feel anxious, visualize the situation being wrapped in a bubble and then picture that sphere floating away.

15. Speak more slowly

Often a lack of peace manifests itself in fast or clipped speech. Take a breath, slow down, and let your thoughtful consideration drive your words.

16. Don't procrastinate

Nothing adds stress to our lives like waiting until the last minute.

17. Buy a colouring book

Mandala colouring books for adults are becoming more popular because of their connection to creating inner peace.

18. Prioritize yourself

You are the only person who you are guaranteed to live with 24 hours a day for the rest of your life.

19. Forgive others

Holding a grudge is hurting you exponentially more than anyone else. Let it go.

20. Check your expectations

Presumption often leads to drama. Remember the old saying, “Expectations are premeditated resentments.”

21. Engage in active play

Let your inner child come out and have some fun. Jump, dance, play, and pretend!

22. Stop criticizing yourself

The world is a hard enough place with more than enough critics. Your life is not served well by being one of them.

23. Focus your energy and attention on what you want

Thoughts, words, and actions all create energy. Energy attracts like energy. Put out what you want to get back.

24. Assign yourself “complaint free” days.

Make a conscious decision not to complain about anything for a whole day. It might be harder than you think and the awareness will stick with you.

25. Surround yourself with people you truly enjoy being in the company of

Personalities tend to be contagious, and not everyone’s is worth catching. Be judicious in your choices.

26. Manage your money

Financial concerns rank top on the list of what causes people stress. Take the time each month to do a budget, calculate what you actually spend and sanity check that against the money you have coming in.

27. Stop trying to control everything

Not only is your inner control freak sabotaging your sense of peace, it is also likely getting in the way of external relationships as well.

28. Practice affirmations

Repeat positive phrases that depict the life and qualities you want to attract. It may not come naturally to you, but it works.

29. Get up before sunrise

Personally witnessing the dawn brings a unique sense of awe and appreciation for life.

30. Be yourself

Nothing creates more inner discord than trying to be something other than who we really are. Authenticity breeds happiness.

Source: www.lifehack.org/

Quote for the day

“Know well what leads you forward and what holds you back, and choose the path that leads to wisdom.” - Gautama Buddha

23-Dec-2015 CSE Trade Summary

Quote for the day

"Nothing worthwhile comes easily. Half effort does not produce half results, it produces no results. Work, continuous work and hard work, it the only way to accomplish results that last." - Hamilton Holt

22-Dec-2015 CSE Trade Summary