One key habit.
What’s that one key habit that, I wish I did on day one?
It’s the discipline of writing down – even jotting down my beliefs and rules for what the perfect trade should look like.
Do this write now – quickly. In less than a minute.
Just write down quickly what you believe the “setup” criteria for a good trade, even a perfect trade looks like.
It’s completely ok if you can’t think of anything extensive. The important thing is for you to just do it – no matter what the result. Do the effort this time without thinking about the result. Do the effort without worrying about the result. Sort of like a writer that sits down to write in the morning. He may not be sure if what he produces in the first thirty to sixty minutes is going to be amazing or not. But he writes anyways without worry and sorts it out later.
So if you don’t come up with a list that is perfect, it’s ok. This is nothing to be embarrassed about. You don’t have to show it to anyone. There is actually no shame and no guilt. They are merely constructs of society and people who emotionalize things.
Just do what you can do right now. Write what comes to mind – RIGHT NOW. Put a date on the paper and throw the paper in a shelf and forget about it. Then invest in the Mastery Course or The Perfect Trade Blueprint. And after learning the electrifying information and strategies in those, write down your beliefs again about a good and perfect trade.
I wish I had done this activity on day one. I didn’t do it day one and it delayed my trading journey and profits.
Life is an Evolution, a Progression
One must understand there is an evolution, a progression to things in life, to careers, etc. They don’t just magically happen.
For example, you don’t feed steak to a newborn. There is a progression.
As another example, with some of my nieces and nephews, I ask them certain key questions to help them develop their mind, etc.
One of the key questions I ask them is:
“What do you know now, about ‘x’, that is important, that you didn’t know 6 months ago or last year?”
One of my nephews is into basketball and music. And he is growing and is even taller than me. And I press him and ask:
“What do you know about basketball that you didn’t know six months ago? What do you know about making and promoting music that you didn’t know last year?”
And I EXPECT answers. I don’t just leave it out to figure it out by himself. I have given him good information to work with and talked to him extensively. So if he read some of the material, took some action and work on his own, he should have some good answers for me.
I keep trying to tell them: There are things you knew at age 7, that you did not know at age 4. There are things you knew at age 14, that you did not know at age 7, etc.
I do my best to get them to see their progression. To see their progress. All the little and big things they know and got good at.
This kind of acknowledgement of “small wins” can be very important to a child’s development and eventual greatness and fame and fortune. Giving the child a “rush”, a “high”, and that feeling of thrill of achievement, even small achievement is important.
The experienced pro’s and adults with wisdom know to move on to the next thing, etc. But for a child or teenager, who is still developing their greatness and genius, these small wins and feelings of progress can really matter. The parents have to instill in the child a certain level of confidence, almost irrational and messianic confidence, hopefully backed by some actual skill, in order to counter the doom and gloom and discouragement that can befall some young people. So these “small wins” are important.
Similarly, there is a progression to your trading journey. What you believe on day one is probably not going to be the same as what you will believe one year from now.
Similarly, what you believe the conditions for a good trade, or a perfect trade, will not stay the same. It will be different at some point in the future, due to an improved trading philosophy. Like from The Perfect Trade Blueprint.
Therefore, it is important – RIGHT NOW, to have the discipline to write down what you believe a good trade or perfect trade consists of. To think in terms of principles. As almost all trading systems can be distilled down to what the principles underpinning them are.
Perfect Health and Perfect Trades
My 16 year old nephew got sick. And he knows that I don’t really ever get sick. So he asked me what he could do. Some part of him doesn’t believe in my health habits and secrets. But another part of him does believe in some of them since he sees the results first hand. He can’t exactly argue with me on this. He gets sick and gets the cold/flu, etc and I don’t. So he asked me.
And what I did was tell him to get a pen and paper. Write the date on it. Write down the goal/vision of perfect health. Then I told him I hope that we could agree that sickness, disease, is just temporary. That it’s not a question of if he will get well. He IS going to feel amazing, it’s just a question of when. And that better that it happens by the time he wakes up the next morning, rather than it taking 10 days out of his life. There’s a lot to do at age 16 with his interests. Like basketball, music, girls, etc just to name a few. Best not to waste a week or two of his life feeling terrible.
Then I told him to write down the philosophy that you are going to use to attain it. I told him for example, some people go pray at home or in church. Some people eat more nutritious food. Some people take medication. Some meditate. Some people do laughing practice and humor. Some people exercise, etc. Some do a combination of things. So I told him write down his philosophy. Because he might not always believe what his mom tells him, or what I tell him, or what the doctors tell him. You don’t want a doctor telling you that you need surgery, when in reality, you don’t. So I tell him that it’s important to develop his own life and health philosophy and habits that can guide him. And also just in case I’m not around anymore, he has to start figuring things out for himself.
Then I told him to write down the action steps in accordance with this philosophy to attain his goal/vision. He did that. And then implementation process.
I did this because it is extremely important for a person, young or old to understand what their beliefs are about – perfect health.
Just like it is very important for a trader to understand what their beliefs are about The Perfect Trade.
The Difference between Rookie and Pro Traders
One of the key differences between rookie and pro traders, is that the rookie traders fairly consistently buy tops and short bottoms. And the chief reason the rookie traders do that is because they don’t have clear rules for at the very least, the entry strategy. (The exit strategy can be a bit more loose, especially if the trade is massively in the money)
They don’t have clear rules for when their trading edge presents itself. And the reason they don’t have these clear rules, is because they did not have the discipline to do this simple activity and refine it over the months.
The pro traders have clear rules for when their trading edge presents an opportunity. They know the patterns. And not just the patterns on the chart, but more importantly the patterns that you don’t see on the chart, via the information flow. This “behind the scenes” and interplay between the information flow and the price is very important. The pro traders have HONED IN on this and gotten very good at it.
The rookie trader may have never done this kind of activity. They may have never read about doing it before, never thought of it on their own, etc.
But now you know.
The work to discover and develop these principles has already been done for you.
Make your trading easier, with The Perfect Trade Blueprint.