Here are some of my recent tweets you might have missed.
[Tweet “Top Tweets For Traders #6”]
Quit thinking about the money so much.
Bring your attention where it needs to be: your plan.— Trading Composure (@TradingComposur) July 5, 2019
Fear of being wrong and attachment to money will corrupt even the best trading system out there.
— Trading Composure (@TradingComposur) July 4, 2019
The longer you stay in the game, the more you'll come to the realization that there are no real expert predictors.
And once you realize this, you understand that there is no point in following or even looking at others' trade ideas.
— Trading Composure (@TradingComposur) July 4, 2019
Blowing up isn't necessarily a bad thing. Sometimes, some lessons can only be learned the hard way.
— Trading Composure (@TradingComposur) July 3, 2019
The hardest thing to learn about trading, I have found (anecdotally), is the idea that, at any time, the market can make you wrong, that it's perfectly okay to be wrong, that a controlled loss is actually a GOOD thing.
— Trading Composure (@TradingComposur) July 3, 2019
“Someone's sitting in the shade today because someone planted a tree a long time ago.”
~ Warren Buffett
— Trading Composure (@TradingComposur) July 3, 2019
• Never fear losing trades.
• Never fear failure.
• Never fear to be proven wrong.These things don't kill; instead, they teach and they help you grow.
— Trading Composure (@TradingComposur) July 2, 2019
It's not so much that consistently profitable traders have an uncanny ability to predict price movement, rather it's the fact that they deal with uncertainty in a methodical and consistent way.
Therein lies their strength.
— Trading Composure (@TradingComposur) July 1, 2019
Your Most Important Duties As a Trader:
1. Come prepared ―know your levels and risk limits.
2. Place and manage your trades confidently.
3. Eliminate all unnecessary worries.— Trading Composure (@TradingComposur) July 1, 2019
If you are doing everything right and yet are not seeing immediate results, don't be discouraged.
You can't flip a coin and expect it to land on heads with each flip.
Give it time, keep trading, and remain disciplined. Your results will eventually come together.
— Trading Composure (@TradingComposur) July 1, 2019
Constantly remind yourself that you will get nowhere in this game without a plan and without the mental fortitude to actually follow it through good and bad.
— Trading Composure (@TradingComposur) June 29, 2019
When taking a loss, most people's first instinct is to get back the money lost at all cost. Which often make things worse.
Shift your perspective from money-oriented to process-oriented.
— Trading Composure (@TradingComposur) June 28, 2019
Trading mastery requires constant learning, engagement, and deliberate practice, often with no immediate rewards, nothing to show but losses.
If you read all the success stories, you'll see that patience, perseverance, and perspective are indispensable qualities to have.
— Trading Composure (@TradingComposur) June 28, 2019
When trading, notice your mind's inclination to feel anxious with every tick against your position, or ecstatic with every ticks in favor of it.
Pay also attention to the feelings in your body.
This instinctive pattern of reaction is what you want to learn to control.
— Trading Composure (@TradingComposur) June 28, 2019
Always remind yourself that learning to trading effectively is like learning any skills.
• It takes time.
• You have to start small.
• It takes method.
• You must be patient.
• You have to want it.— Trading Composure (@TradingComposur) June 28, 2019
If you keep doing something despite your better judgment, it means you haven’t learned yet. You're still on a learning curve. Or else your actions would be controlled, systematic, consistent.
— Trading Composure (@TradingComposur) June 28, 2019
Even though you'd want to use trading as a vehicle towards freedom, the act of trading is anything but freedom. It's about restrain and doing what is right instead of what's comfortable and easy.
Hence, it's often an uncomfortable process.
— Trading Composure (@TradingComposur) June 27, 2019
The more you cling to trade outcomes, the harder trading becomes.
— Trading Composure (@TradingComposur) June 26, 2019
If you trade a proven system, no single trade should make your mood swing like a pendulum. Your attention should be on the long-term performance of that system.
— Trading Composure (@TradingComposur) June 25, 2019
When you reap a loss, don't panic or get mad at the market.
This will only create more problems for you.
Instead learn composure and clear-headedness. This is the most valuable skill you can learn.
— Trading Composure (@TradingComposur) June 25, 2019
A good trader understands that trading is not a competition against others.
The game is about improving oneself, compared to oneself.— Trading Composure (@TradingComposur) June 25, 2019
Risk management is crucial ―it ensures survival under negative outcomes and guarantees maximum returns under favorable ones.
— Trading Composure (@TradingComposur) June 24, 2019
“Rest when you’re tired. Take a break when life stales. Take time to recharge your battery. Energy isn’t something you have – it’s something you are. To give and give and give, to put out without taking in, depletes your battery. It drains you, runs you down.”
~ Melody Beattie
— Trading Composure (@TradingComposur) June 21, 2019
In life, you often learn to escape situations that make you uncomfortable.
In trading, you must learn to face them.
— Trading Composure (@TradingComposur) June 21, 2019
If there is no consistency in a trader's mind, how can he/she achieve consistency in the market?
Develop consistency in your own mind first. The rest will follow.
— Trading Composure (@TradingComposur) June 20, 2019
For the struggling trader, when a loss occurs, usually the balance of his/her mind is also lost. They become caught up in emotions, and all better judgment is swept aside.
— Trading Composure (@TradingComposur) June 20, 2019
The mind spends most of its time lost in illusions, fantasies, always reliving pleasant and unpleasant experiences and anticipating future ones with eagerness or fear.
When you're lost in all that commotion, it becomes difficult to be aware of what is happening here and now.
— Trading Composure (@TradingComposur) June 20, 2019
Trading is mostly a waiting game where you have to strike only when the time is right. If you want action that happens on your own terms, you’re in the wrong field.
— Trading Composure (@TradingComposur) June 19, 2019
The more you think you 'have' to make a certain amount of money this day, week, or month, the more you'll struggle.
• Focus on trading well ―process oriented rather than goal oriented.
• Let yourself be surprised.
• Accept what the market gives.— Trading Composure (@TradingComposur) June 19, 2019
You can only strike gold if you first accept that you have to dig through dirt.
— Trading Composure (@TradingComposur) June 19, 2019
Trading ―if you're in it for the long haul, it will force you to fix your life.
• Get better sleep
• Eat healthier
• Stress and worry less
• Exercise more
• Develop a growth mindset— Trading Composure (@TradingComposur) June 19, 2019
What compounds agitation, worry, and stress:
• Not having a trading system
• Not following your rules
• Trading too big a position size
• Not managing your mindset
• Checking your positions 10-20x a day
• Comparing yourself to others— Trading Composure (@TradingComposur) June 18, 2019
Be aware of the kind of mood you're in before you start trading.
If you're not feeling your best, have the wisdom to back off.
— Trading Composure (@TradingComposur) June 18, 2019
Trading is an excellent time to practice qualities like patience, discipline, openness, but, at the same time, conviction and independent thinking.
When those qualities take firm hold in your mind, trading gets better. But not only that. Your life is changed!
— Trading Composure (@TradingComposur) June 18, 2019
Don't focus on the money.
Focus on trading well.— Trading Composure (@TradingComposur) June 17, 2019
"The key to success is consistency and discipline."
~ Richard Dennis.
— Trading Composure (@TradingComposur) June 15, 2019
Trading, done the right way, makes you self-sufficient.
But the trick about self-sufficience is that it heavily relies on discipline.
That's why most people can only dream of it.
— Trading Composure (@TradingComposur) June 17, 2019
"Mastery is the path of patient, dedicated effort without attachment to immediate results."
~ George Leonard
— Trading Composure (@TradingComposur) June 15, 2019
The quicker you can move from difficult emotions like frustration and anger to acceptance, compassion and gratitude, the better your life will be.
— Trading Composure (@TradingComposur) June 14, 2019
A trader's greatest enemy will always be him/herself.
That's why curbing the tendency to self sabotage is not a one time job ―it's an ongoing one.
— Trading Composure (@TradingComposur) June 13, 2019
When you NEED to make money, trading can be one of the hardest things in the world.
Personally, I started consistently outperforming myself on a yearly basis when the financial pressure stopped.
— Trading Composure (@TradingComposur) June 13, 2019
Typically, when you're worried or upset by a loss, it’s because you’ve lost perspective.
Take some time to recover, gather perspective, and come back refreshed.That's the beautiful thing about this profession: You have that option.
— Trading Composure (@TradingComposur) June 13, 2019
Discipline is not some feelings of motivation; it’s a hard choice that you make consistently.
— Trading Composure (@TradingComposur) June 13, 2019
The best thing you can do when you reap a loss is to let go and move on.
Don't allow disappointment and grievances to carry on and turn into irrational fears.
— Trading Composure (@TradingComposur) June 12, 2019
Losses reflect an important reality of life ―good times will pass. But since nothing is permanent, bad times will also pass.
Let that teach you wisdom.
— Trading Composure (@TradingComposur) June 12, 2019
Meditation has a lot of benefits, two of them being that you develop the habit of being more present with your pain and, as a direct result, you're less of an asshole to yourself and others.
— Trading Composure (@TradingComposur) June 11, 2019
"They will envy you for your success, your wealth, for your intelligence, for your looks, for your status – but rarely for your wisdom."
~ Nassim Taleb
— Trading Composure (@TradingComposur) June 11, 2019
When you're done for the day, take your mind off of trading. Cultivate balance. Don't be too obsessed.
— Trading Composure (@TradingComposur) June 10, 2019
If you take a loss on your current trade, you should not think about making it back be on your next one.
This is a sure way to attempt things outside of your plan and hurt your bottom line even more.
Your next trade should be an independent, separate opportunity.
— Trading Composure (@TradingComposur) June 7, 2019