I heard Mike Tyson say this years ago, and it immediately stuck with me because of so many ties it has to trading your trading plan with focus, discipline, and repetition.
Our main focus in training new and veteran traders is to build a belief in the system through repetition. After seeing the performance of a trade over 150 times within a 2 month period, it becomes evident that you begin to move away from a fear-based internal dialogue regarding your trade. You already know the system is consistently profitable, so the only X-factor in the entire process is that little 6-inch universe between your ears. Now, the focus of accuracy has everything to do with you, the trader, following your rules with consistency and repetition and nothing to do with the system.
Bullard, Mike::
But the fact is, getting to where he is has been Bullard's plan for a long, "I got tired of getting punched in the mouth at parties," he says,
http://www.thecanadianencyclopedia.com/index.cfm?PgNm=TCE&Params=M1ARTM0011773HOME |
Now back to my original point. We have seen the trades. We know the system is profitable. We have simulated the system and are showing a profit. We are ready to trade live hard earned cash that we have an emotional attachment to. Every dollar we are trading equals a loaf of bread, so to speak. Our hard earned trading capital is now taking the INEVITABLE equity draw-down, as dictated by the system. We WILL lose trades, traders, this is a fact that we must embrace on all levels. But remember, contraction leads to expansion. Your draw-down will inevitably lead to a run-up. The KEY is NOT TO MISS IT!
The Good, the Bad, and the Well-Coiffed - May 12, 2005 - The ::
May 12, 2005 If everyone said the sky was blue, he'd dig in his heels and write . Many people have asked OSC where they can get the facts behind the
http://www.ornery.org/essays/sportswriter/2005-05-12-1.htmlHOME |
Now, weve had the draw-down, and to put it bluntly weve Been punched in the mouth. THIS is where the magic happens. At this very moment what will you do? Will you let the fear and painful associations of the market dictate your trading executions? Or will you draw upon your training, having fully accepted that this equity swing is nothing more than another step to consistent profitability?
Whispers on the Web - November 2006::
They just melt in the mouth and are not going to suddenly erupt, .. You never know until you hit the road. So my car has elements of my second home.
http://www.webwhispers.org/news/nov2006.aspHOME |
How The America-Hating Left Remembers 9/11 | Sweetness & Light::
To them, this is all very exciting, because for once, they get to think they . too big to punch in the mouth -plus he’s my boss) to refute this nonsense.
http://sweetness-light.com/archive/how-george-soros-and-the-left-remember-911HOME |
Will you continue to place those next trades with consistency? Will you remove all impulsive trades from your trading style? Will you follow the trading plan that youve put so much thought and process into developing for yourself?
If you have a pen, WRITE THIS DOWN and tape it to your Monitor:
WHEN I TRADE MY PLAN WITH CONSISTENCY AND REPETITION THE MONEY WILL FOLLOW.
Remember, every trader gets punched in the mouth. The magic is how you apply your trading when this happens.
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 Unwanted bonus
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Everyone Has A Plan, Until They Get Punched In The Mouth.