To: Uncle Frank who wrote (1629 ) 5/13/2000 11:53:00 PM From: Boplicity Read Replies (1) | Respond to of 13572
From the bull market report. <<First of all, remember your MISSION. If you went through the whole game without taking the time to write it down and you were consistently making great contact off the pitcher (the Market) then we tip our cap to you and wish you the best. On the other hand, if you found that your timing was off, your pitch selection was horrible, and that you were on a roller coaster ride, well, then maybe you ought to call a time out, make a commitment, identify WHY you are trading and PUT IT ON PAPER. Next, DISCIPLINE. We have said it once and we will say it again, "if you do not have discipline, then do not even bother picking up your bat and stepping up to the plate". Homeruns are nice but if you are hitting .108 with 15 homeruns, don't think you are going to be in the lineup for very long. Think batting titles rather than solo 500 foot shots. Maintain your CONFIDENCE. Keep that Positive Trading Attitude. Mistakes are part of the game. Going 0 for 5 is part of the game. Instead of counting how many hits you have, count your quality at bats (trades). Remember, it is possible to lose money on a good trade. The real All-Stars in this game are Confident and Consistent. Follow the Four steps to GOAL setting: Achievable, Measurable, Controllable, and Flexible. If your current goal is missing one of these four things, then call a time-out, and re-evaluate your goals. Focus on the Process of reaching your goals rather than the Outcome. TRADING for REVENGE. If there is anything that we have learned in our years of trading and competing, it is that the market is Bigger and Badder than ALL of us. It has been around a lot longer than we have and it will still be here long after we are gone. When your ego is bruised because of that trade that went against you for no apparent reason, just remember that if you fall into the dark spiral of Trading for Revenge, the only thing that you are going to end up doing is giving back your hard earned month. Avoid falling into the trap. Be smart. Take a time-out. Recover. Re-Focus. Use your Self-Talk and SMILE. Shake it off. Play this game on YOUR terms. Stay in Control, follow your game plan, and swing at quality pitches. Instead of fighting the market, read it, follow it and ride it like a wave. Rather than trying to figure it out, RESPECT it, give it some space, let it breath. Don't worry, it is not going anywhere. It will still be there tomorrow. Stay BALANCED. When a hitter steps to the plate, the two most important things that he has with him are his body, and his mind. For the hitter, as well as the Online Trading Athlete, both of these things need to be at peak performance in order to achieve success. The keys to staying Balanced and at the top of you game are proper nutrition which keeps you physically ready, and adequate rest which recharges your mental batteries. Play the game One Trade at a Time. Continually remind yourself to stay in the Here-and-Now. When the market opens and the umpire yells "play ball", focus on THIS moment, THIS trade. Avoid re-living the past or dreaming of the future. The past is over and the future will be here soon enough. Stay Disciplined. Make THIS moment the quality at bat (trade) that you have practiced for.