Last week I was up 11 points for the week. That’s good news, because my trading account continues to grow.
That’s easy for to do, when you focus on momentum. Like this, “How to I make 5 pips tonight, easily?”
It gets hard to do, when I focus on position. “How do I make sure I don’t lose any money from my trading account?” (How do I not lose position.)
It’s like running in a race, and instead of focusing on running toward the finish line, you look over your shoulder to see how far back everyone else is. That does NOTHING more than take your eyes, your focus, and your spirit – OFF YOUR MOMENTUM making – and puts it on PROTECTING your position.
I did that for an evening last week, and it took me SIX trades to make ONE point. (Usually I make about 5 points per ONE trade, and call it a night.)
1. Don’t make important decisions – like trading, when the mind is tired. (I had a rough day online, dealing with tech stuff, so I should have just took the trading night OFF.) I wanted to force my quota for the week, and trading became less about the trade – and more about “my position”.
2. Notice, what you are really FOCUSED on. Momentum or position? (How many areas can you apply that in life?) Momentum is all about YOU – in a very good way. Increasing your momentum. On the other hand, protecting your position – against a loss or a threat – creates a split -in you world. Life (and trading) become almost war like. No need to protect, when focused on simply DOING YOUR BEST – that’s momentum.
3. Keep it simple. We really do have an addiction in our culture to making it complicated. Keep it simple. When I trade with ONE thing in mind – GET 5 POINTS – my conscious mind and my subconscious mind work together, and make that happen. When I start thinking about protecting position, and making 10 points as a possibility, or trying to figure out something IRRELEVANT, life tends not to be as much fun – or trading as profitable.
So that’s it, oh yeah, and try this on your life and trading.
Trading and life will become as complicated – and time consuming as you LET it. The next link has a FREE SOLUTION to all of that. Just read it, and let us know what you learn, apply and think.
I like your plan for taking profits. Sort of like a mechanical trading method.
It’s all about keeping it simple, and making it actionable.
Last night, 3.1 pips (points). I intended for 5. Got tired. Called it a night.
Adapting to what is, being tired, market conditions, but keeping the RESULT in mind. Profit.
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