Was going to sit down and catch up on all the daily vid lessons, recaps from syke's trades but i've ended up going from blog to blog of successful traders. No regrets so far, i've been reading their thoughts through their blogs and i'm very thankful that they post their losses/mistakes so others can learn from them.. here's some of the newer ones that i really like and have the same mindset/thinking pattern with..
http://derricktrades.blogspot.jp/
http://nikkoricoo.blogspot.jp/
Funny, these two are younger than me haha.. I really like these two because they're both as hungry for knowledge as i was when i was their age. If i had just run into sykes/nathan/daytrading at that age instead of going the real estate investments route/Robert Kiyosaki/insurance+stockbroker mentors, my life would've been drastically different. But no regrets, i've learned alot through that route and it actually sets me up with the ideal mindset on tackling day trading. Looking back now and seeing alot of failed businesses and ventures, it was tough but slowly my money discipline is very very good. Unfortunately, that is also going to be my biggest challenge going into stocks. My overconfidence.. Thankfully, other traders do blog their progress and i can adapt myself into avoiding those same mistakes. Sticking to the rules and maintaining discipline is a MUST in trading and I'm prolly gonna make it a rule on myself to read/re-read other people's blogs at least once a month to ingrain the lessons they've learned from their mistakes since i have a short memory >_>..
http://averagejoedaytradr.blogspot.jp/
That and I get to see different trading styles and slowly refine mine to a specific niche..
Just realized it's my bday today.. Happy birthday to me !! haha, Best bday for me in awhile though.. I love being motivated about business/finance and i haven't felt this hungry for knowledge in years. Thanks for all the successful trader's blogs and for paying it forward by posting your progress. It might've not meant much when ya'll posted your blogs, but for this little guy stationed half a world from home (Texas, 'MURICA!!!).. reading ya'lls blogs, I haven't felt more at home than in years.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quotes from their blogs:
- If you learn anything from this post, let it be the fact that you should never let yourself think that you need to make your loss back.
- I focus on 1 or 2 main plays a day for scalping or "swinging" intraday, and 1 or 2 plays in my swing account that do not need to be monitored constantly. The swings don't take up very much mental energy; I just check the 15-minute charts a few times a day to make sure they aren't doing anything crazy. Of the 1 or 2 stocks I am day-trading, I typically let them play out for at least 10-15 minutes into the open. Could I make money scalping those first few minutes? Sure, probably, but it's not worth my mental energy. I don't want to catch every single minuscule move on a stock just to make a quick buck. I want to take a chunk out of the stock, not just a .02 scalp on FB or TWTR. I don't need to milk every single move a stock makes. I only need to take the ones that I have strong conviction in, and can size the hell in. And I can still make more than Jack makes trying to scalp the same stock all day.
Just about every day, I get to walk away from my computer with plenty of mental energy, satisfied with my trading, and not stressing about how I missed a big move in a stock. This is a big problem that I noticed when I was struggling trading, and with a lot of newer traders. People constantly complain about how they missed a big move in a stock, or covered too early/sold too soon. This is unhealthy for your mindset and makes you feel bad about yourself, which then makes it much harder to feel confident in your next trade or next trading day. At first I just tricked my brain into enjoying missing moves on a stock. Always feel confident in every move you make. If it keeps tanking, just think of all the stupid chasers who are long and losing their ass. Think of something that can get your mind off of the negativity you feel about yourself for missing. Sometimes if I am waiting for the next pop on a stock to get short, but instead it just takes another leg down without me, I literally get up that moment and walk out of the room. Then I’ll take some deep breaths, gaze out of the window, and clear my mind. Then when I sit back down at my computer, I feel centered and not upset for missing a play.
-
I own them, they do not own me.
- Kaizen
