Just a thought

A mentor of mine had me start doing this years ago, thought maybe I'd share. Personally, I chose Trading In The Zone & Its not what you think, Its how you think.

My morning routine is the most important as it starts my day off on the right foot. I read a chapter out of each book to reinforce the idea, that, trading is a game of odds and probabilities. Edge and risk management. One trader after another. They are all the same. Some work out and some don't.

I also read out loud my personal affirmations and goals that I have set. Focus. Focus. Focus.


Just Fucking Do It.

Trading Rules

 Keep It Simple.

  1. Time Frame
    1. Weekly Charts 
  2.  Entries
    1. Base break outs
    2. Trend line breaks
      1. On above average volume.
      2. Price must be above the 10/30 week moving averages
  3.  Risk/ Stops
    1. Risk no more than 2% of capital per trade.
    2. Stop set at 1-2x ATR
  4. Profit Taking
    1. Strategy One
      1. 1/3 off at 2x ATR
      2. 1/3 off at 20%
      3. Trail stop last 1/3 (6 bar low)
    2. Strategy Two
      1. 1/2 off at 20%
      2. 1/2 trail stop (6 bar low)
  5. Some Other Criteria to Keep in Mind.
    1. Focus on companies that are new. ( 10-15yrs. max)

What is really comes down to is drawing some lines on a chart and managing risk...
           

Worst Trade of the Year $CYBR

      At this point I am not sure why, but I felt paralysis. I couldn't do anything but stare and do nothing. Haven't felt like that in a trade, winner or loser, in years. I guess, sometimes, I need a kick in the teeth to get me back where I should be. I know nothing. Anything is possible. This is game of odds and probabilities. (For the record, hit a hot key 3x) 

I can only assume I will be stopped out tomorrow. At least I didn't move my stop right!?