Know why you want to trade

The above subject is a common advise given by many, do I have the answer, I asked myself?

There are many things in life that requires courage to do.  Trading for a living is a big decision for me, was it foolish courage?  Courage is a tricky thing, should we do what others want us to do, or should we do what others think that we should do?   A lot of times in our life, we do things that we are not even sure what we are doing for.  It is important that we know why we want to do, and what we want to be.  If there is a real reason to do something that is important, we do it for honor, and we do it because it is worthwhile.

If we do it for the right purpose and die for trying, we have both honor and courage.  Trading is tough and many of us may feel demoralized along the journey.  As I have learnt from the movie "The Blind Side" - Hope for the courage and try for honor.

The difference between practicing hard versus deep practicing

I have come across many who try to learn trading and they practice by going through lots of charts.  They are practicing hard, but is it efficient?

In my opinion, no.  I just learn a new term call deep practicing.  And this is what I do, focus analysis on one pair, follow the price development and re-analyze throughout the day and even days.  Study the price movement, observe the pattern, do what-if analysis and repeat the same process when trading live. 

When mistakes are made, I review and repeat the whole cycle of practicing on the pair.

Slowing down of blog posting

I am building up our company website now, so I would slow down the posting to the blog til the site is ready. 


Eric

Commitment of the Trader

I read the following from Dr. Van K Tharp's article.

You will notice that at the top of the list I include "vision." One of the keys to real success in trading is commitment. Before I coach a trader, I look for commitment. Those who are not committed to do what it takes, usually commit financial suicide when they try to be full time traders. Now, I have no idea how to give people commitment. It's more like something they are born with—not something I can coach.