On my exciting and amazing journey to the stars.....

[Ajax616]

Today, and every day I will be a World Class Trader.

Today, and every day I will be one of the best two weeks time frame traders in the markets

http://www.youtube.com/watch?v=NaoUlSSWUsI&feature=BFa&list=PLB869FE30C4DFAB7B&lf=view_all

[Ajax616]

RAS - Reticular Activating system

[Ajax616]

I backed tested it a long time ago, but when we started paper trading.  I was really nervous.  I put on seven trades and was hoping to money.

I will always remember ETN, because all the other trades got stopped out for losses.  ETN was the only trade that was a winner, and I kept the trade until exactly my time stop.  It is easy sometimes to take profits when you are down, but I kept my winner all the way until the end. 

Because of it, I cut my losses in half on the one winner that I had.

[Ajax616]

Sometimes I may consider myself not being there yet, but maybe that is the reason I am not there yet, because my mind believes what I am telling it.

Therefore today and everyday, I will a World Class trader.

Today and everyday, I will be one of the best 2 weeks time frame traders in the market.

Today and everyday, I will be....

[Ajax616]

Last year, I came up with this trading plan already.  Its not as good, but the main strategy was already there.  I back tested it every day too.  I could not make it work, because even though I had a very good plan, my psychology wasn't ready for success.  The external was there, but I didn't have an internal to match it.

Success is from within, and from this day, I will be absolutely successful from within.

I will be absolute discipline to my trading rules, independent to result.

[Ajax616]

"The key to success is rituals." - Tony Robbins

For an incredible life, practice incredible rituals and standards.

[Ajax616]

I once was an undisciplined trader, I just had to win before I closed out the day and was happy.  I was trading MOS against the trend and I entered a position that is not correct.  I wanted to make some money before I left and took the kids to go snow tubbing.   The desire to make money, small money, made me lose 4 times the amount I wanted to win.  When I was losing, I couldn't pull myself away from the computer. 

I am glad that is in my past.

Here is the lesson:  Whenever I take an action that is based on fear, greed or desire, it will make the situation three times worst.

[Ajax616]

Once I was watching a DVD on trading by Oliver Velez, and he said that 90% of day traders will break their account within 1 year.  I thought that's not going to be me.  If we do not know and understand and exactly how to control our thoughts and actions, if we are not certain of that, then that will be come "ME".  It is in hour human nature to lose in trading or gambling.  In order to win, we have to change the internal dialogue and to change the emotions.  It is even more of an internal journey than an external journey.

[Ajax616]

When I ever I lose money or get stopped out of a trade, I would always review the trade to see what I can do different next time.  On my last two stops, I do not have answer as to what I would do different.  My answers were, I would do exactly the same thing, and the losses were as a result of random fluctuations in the market.

Those comments make me happy, because something internal is beginning to change.  I believe its first time that I started to write like that.

Thank you for the journey.

[Ajax616]

Thank you for the advice, Sir Richard Branson.  Coming from a very confident (egotistical) person such as you, its gold and silver.

http://www.youtube.com/watch?v=VH35Iz9veM0&list=PL5786CD2E89264F69&feature=view_all

[Ajax616]

Re: a question on success

Would you say if you were successful every single day of the week, then your week is successful?  If every single week of the month is successful, then would you say your month is successful?  And if every single month is successful.... .well you get the idea.

How to define success every single day?  Do you remember those two questions I wanted to ponder every time I think about the market.

Today, did I execute my trading plan exactly the way I wanted and tested? on:
1. Applying my quantified entry
2. Applying my money management rules


Today, was I absolute disciplined to my trading rules?
3. Managing my live orders
4.  Managing my live positions
5. My exit rules

6.  Did I follow through and do my homework today?

It occurred to me that if we did all the above, six criteria, our day is a success.  If we absolutely focus on that, maybe even quantify for 100% goal, then we will achieve our objective.  Can you think of anything else we need to do for success?

[Ajax616]

I don't know why I got started watching this video, but it makes me think of you, and meeting you.

http://www.youtube.com/watch?v=v_yTphvyiPU&ob=av2e

[Ajax616]

Interesting Article

The big swings are not driven by a fundamental bet that the bank will be more profitable because the economy is getting better or a real concern that it will lose more money than others if there is a default in Greece.

Instead, Bank of America is the stock of the moment for high-frequency trading, the supercomputer-driven buying and selling that barely existed a few years ago and now accounts for as much as two-thirds of U.S. trading.

In high-frequency trading, investors use computer algorithms to exploit small changes in a stock's price. If a computer can seize on a stock like Bank of America a fraction of a second faster than the rest of the market, it can book a tiny profit.

Those pennies add up over tens of millions of shares a day to produce big gains. And when computers rush to buy or sell a stock like Bank of America, it can result in accelerated moves in the stock price. Buying leads to more buying, selling to more selling.

The stock traded as high as $15.31 last year. Then investors, worried about how deep the bank's mortgage problems might be, drove it below $10 in July. High-frequency traders pounced, and Bank of America's volume exploded. It was 147 million shares last summer. On Thursday, 477 million shares changed hands.

The low price put it in the sweet spot for high-frequency trading. If a high-frequency operation is trading blocks of 100 shares at a time to capitalize on a 1-cent change, there's a lot less risk working with a $5 stock than a $500 one.

[Ajax616]

The life lessons taught by John Wooden have become legend. Here's a collection of some of the greatest "Woodenisms."

"Things turn out best for the people who make the best of the way things turn out."

"Never mistake activity for achievement."

"Adversity is the state in which man mostly easily becomes acquainted with himself, being especially free of admirers then."

"Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are."

• EnlargeJohn Wooden

Jeff Lewis/US PresswireWoode n's wisdom has withstood the test of time.

"Be prepared and be honest."

"Be quick, but don't hurry."

"You can't let praise or criticism get to you. It's a weakness to get caught up in either one."

"You can't live a perfect day without doing something for someone who will never be able to repay you."

"What you are as a person is far more important than what you are as a basketball player."

"Winning takes talent; to repeat takes character."

"A coach is someone who can give correction without causing resentment."

"I'd rather have a lot of talent and a little experience than a lot of experience and a little talent."

"If you don't have time to do it right, when will you have time to do it over?"

"If you're not making mistakes, then you're not doing anything. I'm positive that a doer makes mistakes."

"It isn't what you do, but how you do it."

"Ability is a poor man's wealth."

"Failure is not fatal, but failure to change might be."

"Consider the rights of others before your own feelings and the feelings of others before your own rights."

"Do not let what you cannot do interfere with what you can do."

"Don't measure yourself by what you have accomplished, but by what you should have accomplished with your ability."

"It's not so important who starts the game but who finishes it."

"It's what you learn after you know it all that counts."

"It's the little details that are vital. Little things make big things happen."

"Talent is God-given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful."

"The main ingredient of stardom is the rest of the team."

"Success comes from knowing that you did your best to become the best that you are capable of becoming."

"Success is never final; failure is never fatal. It's courage that counts."

[Ajax616]

Thank you John Wooden for teaching your definition of success.  As all success are the same, now you definition of success will become my definition of success as well.