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To: Boplicity who wrote (249)	3/18/2000 8:22:00 PM
From: Boplicity	Read Replies (1) \| Respond to of 13572

8. 2ND INNING The Three Mental Keys to Successful Online Trading Online trading athletes share three traits with elite performers: 1) They start with a specific Mission statement 2) They maintain strict Discipline, and 3) When the pressure is on, they remain under Control. MISSION STATEMENT Ask yourself, "Why am I trading?" Is it for the money, the freedom, the competition? People who make a living trading all have one thing in common: They trade because they are competitors. They have the elite athlete's mentality. The fame and fortune are great perks but the players who survive, season after season, are focused on a more specific Mission. They trade because it is what they believe they were born to do. It is not just big corporations who have "mission statements". Top athletes have personalized their goals through specific mission statements as well. As an online trading athlete, it is up to you to find your mission, your purpose, your reason for "WHY"? Here is an example of an effective Mission Statement: "I am an online trading athlete. My goal is to remain intense, confident, and focused every time I step up to the plate. Sticking to my personal game plan will enable me to become an all-star and achieve financial success." In this mission statement, the trader was clearly able to identify his/her reasons for WHY. Remember, mission statements change, as you change, so the key is to find whatever works for you right now and be willing to add or alter your mission statement as you grow in your career as an online trading athlete. Now, go ahead, write your mission statement down and make sure you post it over your trading stadium so that you can read it whenever you need to Re-Focus. DISCIPLINE Winning online trading athletes have Discipline. This discipline is the bedrock of success, and there is no way to be successful, over the long-term, without it. Discipline starts with establishing your own personalized set of ground rules. Write down your rules and stick with them. These rules are your guidelines to success. (Don't know what your rules are? Then read on!) They are a contract you have with yourself. Go ahead and sign them. Make them binding because if you stick to them, you will be around to win all the batting titles your shelf can hold. On the other hand, stray away from them and you might find yourself watching the game from the stands or on TV and with a lot less in your bank account. What is discipline? Discipline is getting up to take a break after you have three bad swings (trades). Move away from the computer. Get a drink, take a walk, make a phone call, do ANYTHING but make sure you get away from the computer. I know you want to get back in the game. You want Revenge. Your ego is bruised. But think about it. So what? Do you want to just play in this one game and set a record for most strikeouts in a row? No. You want to achieve long-term success; you want to be an All-Star. So stay disciplined. Stick to your rules. The market is not going away. It was here long before you started trading and it's going to be here long after you are done. You're job is to make sure you can afford to put on the uniform and play the game again tomorrow. CONTROL Without it you are going to be swinging all over the place and trading like a wild person. Again, it's just like a baseball player who is so tense, they are "choking the bat" and trying to kill the ball. These players need to make sure they have their cushion ready because they're going to end up taking a seat on the bench very soon. Like a talented baseball player, you need to be in control and focused in order to stay in the game. You may not have winning trades every time. Sometimes, the pitcher (Nasdaq/NYSE) just has wicked stuff like that split-finger curve that drops off the table or a nasty slider that breaks at the last second. It might just be a changeup that threw your timing off because you were guessing. Stay away from guessing. Stay focused and in control. After all, remember that the market is something you can't control. The only thing you can control, in this game, is YOURSELF. If you encounter a temporary setback like a trade going against you, just tip your hat to the pitcher (the market) and walk away with head up and shoulders back. This is the best way to keep your Confidence, which otherwise can be a fragile thing. After all, the game's not over yet and you are going to get some more at bats, if not today, then tomorrow. The sooner you realize this and understand it, the more likely you are to make consistent contact. Remember, you don't have to hit home runs to win. Just keep putting the ball in play and you will make things happen. These three mental keys are the foundation for successful online trading. In next week's 3rd Inning, we will talk about the Online Trading Athlete's most valuable weapon, Confidence. So until then... Stay Focused, Doug Hirschhorn & Shane Murphy TheFocusedTrader@aol.com Phone: 203 459-0515 Copyright 2000, TheFocusedTrader

To: Boplicity who wrote (249)	3/19/2000 10:15:00 PM
From: Didi	Read Replies (2) \| Respond to of 13572

Hi Greg, How beautiful! Why waste your energy further? Didn't Arthur Pritchard's posts say it all? Need your friends say more? You know who you are, all that matters. Many truly appreciated you. Your thread has been consistently on the top 10 list since conception. They came to visit your new board for nothing? Have a good drink tonight, Greg. I'll toast my hot chocolate to you. Here we go......gulp, gulp, gulp,...;-)! di