Here are some of my recent tweets you might have missed.
[Tweet “Top Tweets For Traders #7”]
"The quieter you become, the more you are able to hear."
— Rumi
— Trading Composure (@TradingComposur) October 1, 2019
Learning to trade involves testing, failing and trying again until you hit something.
Often, there's so much pain and discomfort in this process that many suddenly forget that it's a game.
They lose the spark in their eyes and turn bitter.
— Trading Composure (@TradingComposur) October 1, 2019
In trading, the joy of consistency is the reward of commitment.
— Trading Composure (@TradingComposur) October 1, 2019
Meditation can help you develop an incredible amount of patience and self-restraint.
If you are a trader and don't have a practice, you're not maximizing your chances of success.
— Trading Composure (@TradingComposur) October 1, 2019
Keep this in mind: Not every day will be a good day in the market.
Set your expectations straight, maintain composure, manage your risk well, and keep trading.
— Trading Composure (@TradingComposur) October 2, 2019
Chose your trading mentor or coach wisely.
Ideally, you want it to be someone who has known trials, struggles, loss and have found their way out of the depths.
That person will be able to better empathize with you, understand your challenges, and help accordingly.
— Trading Composure (@TradingComposur) October 2, 2019
Age isn't always a good measure of wisdom. Yes, some people grow wiser as they grow older, but others simply grow more stubborn and set in their ways.
— Trading Composure (@TradingComposur) October 3, 2019
You are disappointed by a loss because reality didn't conform to your expectations.
To be less disappointed, expect less from the market and demand more from yourself ―more discipline, patience, perseverance, wisdom, impartiality…
— Trading Composure (@TradingComposur) October 3, 2019
Trade like you don't need the money.
You'll do a much better job.
— Trading Composure (@TradingComposur) October 4, 2019
A positive attitude makes a great day.
Great days become great months.
Great months become great years.
Great years make a great career.
A great career becomes a great life.It all starts with a positive attitude one day at a time.
— Trading Composure (@TradingComposur) October 4, 2019
Don't listen to anyone trying to sell you a system that makes money 'every day.'
If that system really made money every day, they wouldn't want to sell it.
— Trading Composure (@TradingComposur) October 4, 2019
Life is comprised of both ups and downs.
It's very easy to face the ups, but not so easy to face the downs.
Yet, learning to face the downs with wisdom, courage, and grace is o̲n̲e̲ ̲o̲f̲ ̲t̲h̲e̲ ̲m̲o̲s̲t̲ ̲i̲m̲p̲o̲r̲t̲a̲n̲t̲ ̲t̲h̲i̲n̲g̲s̲ you'll ever learn.
— Trading Composure (@TradingComposur) October 4, 2019
There are many ways to approach the market.
Find one that works for y͟o͟u͟, that leverages your strengths (what comes naturally for you).
This way you're not spending your time fixing your weaknesses.
Fewer headaches, fewer struggles, and, overall, a smoother path to success.
— Trading Composure (@TradingComposur) October 4, 2019
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— Trading Composure (@TradingComposur) October 7, 2019
Use the pain from past losses as material for patience, discipline, wisdom… not for haste, irrational fears, and carelessness.
— Trading Composure (@TradingComposur) October 7, 2019
Many traders spend too much time, energy and capital placing trades with terrible odds just because of the profit potential— which, on some level, is no different than playing the lottery.
— Trading Composure (@TradingComposur) October 7, 2019
"One day the people that don’t even believe in you will tell everyone how they met you."
– Johnny Depp
— Trading Composure (@TradingComposur) October 7, 2019
"One day the people that don’t even believe in you will tell everyone how they met you."
– Johnny Depp
— Trading Composure (@TradingComposur) October 7, 2019
Emotions can't really be overcome, nor should we want to overcome them.
Emotions are actually helpful―they help us focus, tell us that what we're doing is important to us and remind us that we're humans, not robots.
But we must learn to manage them so that they don't manage us.
— Trading Composure (@TradingComposur) October 8, 2019
Do your best to keep your self-talk positive, allow kindness to seep into your whole being, and notice how this affects the way you feel, learn, and live.
— Trading Composure (@TradingComposur) October 8, 2019
When you let go of expectations, you free yourself from the attachment to specific results that are beyond your control.
— Trading Composure (@TradingComposur) October 8, 2019
"To be successful, the first thing to do is fall in love with your work.”
– Sister Mary Lauretta
— Trading Composure (@TradingComposur) October 8, 2019
The best performers in any discipline will set process goals instead of outcome goals.
— Trading Composure (@TradingComposur) October 9, 2019
In a field where there'll always be people who have more money than you; who are more hard-working, have more talent, skills or luck than you, you have to always remember that your competition is against y͟o͟u͟r͟s͟e͟l͟f͟, not others.
— Trading Composure (@TradingComposur) October 9, 2019
"Mastery is the path of patient, dedicated effort without attachment to immediate results."
― George Leonard
— Trading Composure (@TradingComposur) October 9, 2019
Confidence is not "I will profit on this trade."
Confidence is "I will be fine if I don't profit from this trade."
— Trading Composure (@TradingComposur) October 10, 2019
If you lose, learn what is there for you to learn, and try not to get too worked up over it. There are more opportunities ahead.
— Trading Composure (@TradingComposur) October 10, 2019
In business, you typically create opportunity by being proactive.
In trading, you just chill and wait for the opportunity to knock at your door.
— Trading Composure (@TradingComposur) October 10, 2019
If you can manage your desire to get rich quick, trade small, stay in the game, keep learning, and make this a lifelong journey, over time, you'll see that the 'secret' to consistent profitability has been hiding in plain sight all along.
— Trading Composure (@TradingComposur) October 10, 2019
Early in your trading career, you will have to put in a lot of work. But then, expect the amount of work to decrease as you gain proficiency.
— Trading Composure (@TradingComposur) October 10, 2019
"He who takes no chances wins nothing."
— Danish Proverb
— Trading Composure (@TradingComposur) October 10, 2019
See your trade as a seed with the potential to grow into a solid tree and bear fruits.
Don't be too eager to enjoy the fruits— let the seed go through the period of development it needs before it's ready to deliver.
— Trading Composure (@TradingComposur) October 11, 2019
The fear of losing is embedded within us. You can't really get rid of it. Over time, you just learn to manage it better so that it doesn't sway your trading decisions.
— Trading Composure (@TradingComposur) October 11, 2019
There's a sweet spot in terms of position size that keeps the game meaningful (and not boring) while also preventing emotions from clouding your thinking.
Find out what that position size is for you.
— Trading Composure (@TradingComposur) October 11, 2019
Listen to traders who talk about losses as well as their own difficulties.
It takes real courage and authenticity to stop pretending you have it all together.
— Trading Composure (@TradingComposur) October 11, 2019
Gaining mastery is about disrupting your old, automatic patterns of thought and behavior and replacing them with the right ones.
This can happen consciously or unconsciously.
When you make it a conscious act, you are shortening the road to mastery.
— Trading Composure (@TradingComposur) October 12, 2019
When trading, moods will want to influence your decisions.
How to minimize this:
• Have a plan
• Know thyself
• Trade sizes that keep your emotions in check
• Don't focus too much on money
• Focus on trading well
• Understand your system—what it's attempting to do— Trading Composure (@TradingComposur) October 12, 2019
Formal education does very little in terms of providing us with the skills, grit, and ways of thinking required for enduring success in the market.
— Trading Composure (@TradingComposur) October 14, 2019
Often, people slave away for decades at a career they dislike just so they can have a lot of money once they're old, only to realize that they've wasted most of their life.
— Trading Composure (@TradingComposur) October 14, 2019
The thing when you follow your plan and trade well is that the results will have a lag time ―it might be one month, it might be 6 months…
This means that you have to keep pushing, trade well, and never let yourself get destabilized because you're not seeing results right now.
— Trading Composure (@TradingComposur) October 14, 2019
When you hold on to your opinion and defend it like a brick of gold, it becomes hard to accomplish anything worthwhile as a trader.
This defense mechanism is precisely what gets you into trouble.
If anything, market uncertainty should elicit humility, discernment, openness…
— Trading Composure (@TradingComposur) October 15, 2019
Good news makes the masses excited and buy high out of greed.
Bad news makes the masses depressed and sell low out of fear.
Good news or bad news leaves the master trader indifferent ―he/she trades a proven system.
— Trading Composure (@TradingComposur) October 15, 2019
The best thing you can do when trading is to stop thinking about yourself so much and instead place all your attention on what's happening in the market and what your plan instructs you to do.
— Trading Composure (@TradingComposur) October 15, 2019
It's easy to say "I want the money and lifestyle trading promises.” It's much harder to do what's needed on a day-to-day basis to make this a reality.
— Trading Composure (@TradingComposur) October 15, 2019
If you're a struggling trader, put in the work and fix yourself.
This is how you transcend your limitations and separate yourself from the pack.
Consistent profitability doesn't come easy ―you have to pay a price (your time, effort and money) to get the results.
— Trading Composure (@TradingComposur) October 16, 2019
Learn to lose.
— Trading Composure (@TradingComposur) October 16, 2019
The people who go on to become consistently profitable traders manage their risk right from the start with exceptional clearheadedness.
This allows them to survive the learning curve and build the necessary skills to thrive in this field.
— Trading Composure (@TradingComposur) October 16, 2019
• You learn to play the guitar by playing more, not less.
• You pick up a new language by practicing it more, not less.
• You learn to drive by driving more, not less.
• You get good at trading by trading more, not less.Deliberate practice is key.
— Trading Composure (@TradingComposur) October 17, 2019
If you're an exceptional chart reader, a market virtuoso, the market will validate your opinions and expectations a little more often than other market participants.
But that's all. You'll still be wrong many (many!) times.
— Trading Composure (@TradingComposur) October 17, 2019
Manage your emotions and avoid bad trades like the plague —one big loss can offset many profitable trades and undo days and months of hard work.
Mentally, this is absolutely brutal. Don't go there.
— Trading Composure (@TradingComposur) October 17, 2019
Vow not to focus on making money but to learn a set of money-making skills.
— Trading Composure (@TradingComposur) October 17, 2019
Good traders are confident in their abilities to extract money out of the market, but they also acknowledge that luck plays a big role in this game.
— Trading Composure (@TradingComposur) October 18, 2019
“Two things define you: your patience when you have nothing and your attitude when you have everything.”
― Ali ibn Abi Talib
— Trading Composure (@TradingComposur) October 18, 2019
A life without challenges and setbacks means that there's no personal growth —you're stagnating.
— Trading Composure (@TradingComposur) October 18, 2019
One trade shouldn't make you miserable or ecstatic.
Play the long term game —think 100s and 1000s of trades.
— Trading Composure (@TradingComposur) October 18, 2019
Wealth —enjoy it if you have it, work towards it if you don't, but, all in all, try not to make it the centerpiece of your life because, eventually, it has to be given up.
Love, presence, forgiveness, spirituality… all these things matter much more than you might think.
— Trading Composure (@TradingComposur) October 18, 2019
Mindset management is so important yet mostly overlooked —you want to train yourself to approach trading in a way that's sustainable as opposed to letting it be something that consistently plays with your emotions and wears you down.
— Trading Composure (@TradingComposur) October 18, 2019
You shouldn't judge your results on a trade by trade basis because you may actually find that discouraging or destabilizing.
There's a lot of noise in short term outcomes, so the key is to assess your results over longer periods using objective means.
— Trading Composure (@TradingComposur) October 19, 2019
"You don't need tons of IQ … You need a stable personality. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls. It's a business where you think."
~ Warren Buffett
— Trading Composure (@TradingComposur) October 21, 2019
Losses are part of this business. Do not allow yourself to become bitter. Maintain that spark in your eyes. Keep trading, keep learning, keep growing.
— Trading Composure (@TradingComposur) October 21, 2019
Hard workers:
• Chase trades
• Are glued to their screens all-day
• Trade everything that movesSmart workers:
• Chill and let trades come to them
• Place trades and let contingent orders do the rest
• Specialize―develop a 'feel' for a few select names and only trade them— Trading Composure (@TradingComposur) October 21, 2019
Accept the fact that this journey will be anything but smooth and vow to take responsibility no matter what happens.
— Trading Composure (@TradingComposur) October 22, 2019
Always do your very best to place good trades.
If profitable, the positive feedback will help you grow more confident.
If unprofitable, you'll get to gather precious data on your system, informing you of its strengths and limitations.
— Trading Composure (@TradingComposur) October 22, 2019
Relax the neediness, and let the market show you its hands.
When you badly want something to happen, it’s very easy to convince yourself that you’re actually seeing what you want to see.
— Trading Composure (@TradingComposur) October 22, 2019
A lack of discipline will end up costing you more than just money. You're frittering away time and energy; you're moving away from a life full of meaning.
— Trading Composure (@TradingComposur) October 22, 2019
When you check your positions at random points throughout the day, you're not accomplishing anything significant, you're just looking for a quick dopamine rush ―that 'feel good' effect.
It's an addiction…
Learn to let your trades work without obsessing over them.
— Trading Composure (@TradingComposur) October 23, 2019
A good trade is one where the probabilities are stacked in your favor. And even though the immediate outcome might not be favorable, it's a trade you would be willing and ready to take again in a heartbeat.
— Trading Composure (@TradingComposur) October 23, 2019
If the picture is unclear, it's best to stay out.
There will be plenty of opportunities that will jump at you just because of how clear they are.
Reserve your ammunition for those instances.
— Trading Composure (@TradingComposur) October 23, 2019
If the picture is unclear, it's best to stay out.
There will be plenty of opportunities that will jump at you just because of how clear they are.
Reserve your ammunition for those instances.
— Trading Composure (@TradingComposur) October 23, 2019
Don‘t sweat the stuff you can‘t control.
Be patient and disciplined ―those are the things you can control.
— Trading Composure (@TradingComposur) October 23, 2019
Don‘t sweat the stuff you can‘t control.
Be patient and disciplined ―those are the things you can control.
— Trading Composure (@TradingComposur) October 23, 2019
You don't just shape yourself like that, as if by magic.
You are a direct reflection of:
• The people you spend the most time with
• The books you read
• The work you do
• The food you eat
• The thoughts you consistently generate
• The qualities you display and practice— Trading Composure (@TradingComposur) October 23, 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) October 24, 2019
When the signs are clear, good traders do not hesitate a second to admit that they're wrong and cut their losses.
— Trading Composure (@TradingComposur) October 24, 2019
“It is easy to be pleasant when life flows by like a song, but the man worthwhile is the one who will smile when everything goes dead wrong."
— Ella Wheeler Wilcox
— Trading Composure (@TradingComposur) October 24, 2019
Initiate a trade because there's a clear rationale behind it, it's part of a strategy, and, win or lose, it’s an idea worth a try.
Don't place a trade just because you have fear of missing out, trader X did so, or simply because you're bored out of your mind.
— Trading Composure (@TradingComposur) October 24, 2019
The more you cling to trade outcomes, the harder trading becomes.
— Trading Composure (@TradingComposur) October 24, 2019
When placing your trade, anything can happen.
Let your mind settled into this realization.
— Trading Composure (@TradingComposur) October 25, 2019
Often, when a loss occurs, it's not only a financial one, it's also a mental and emotional one —struggling traders lose the balance their mind and get caught up in emotions and reactivity. All better judgment is swept aside and things tumble down like a house of cards.
— Trading Composure (@TradingComposur) October 25, 2019
Three Steps Towards Simplicity In Trading
• Identify what works
• Boil it down to a few simple rules
• Eliminate the noise— Trading Composure (@TradingComposur) October 25, 2019
Risk management and emotional management are intertwined. If you can't manage one, you'll have a very hard time managing the other.
— Trading Composure (@TradingComposur) October 26, 2019
When trading losses begin to inform you instead of crushing you emotionally and mentally, you've separated yourself from the pack; you are light-years away in your development.
Good things are on the horizon.
— Trading Composure (@TradingComposur) October 26, 2019