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New Month, New Goals

Daytrader21 Posted 1 Aug.  in #Trader's blog #Discipline #Dukascopy Community #Money Management #Goals
The plan for current month is to manage to get in top 10, even thought over the past few months I've failed miserably in producing any good results I'm still pretty much confident that I can make it back in the top rank. However I'll need to exercise good discipline and at least some proper money management technique.
Since every point is important I'm trying to not disregard the social points either and us such I'll have to do some blogging. In my humble opinion, one aspect that Dukascopy Co…
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shanziester 1 Aug.

I have to agree with you but then again I am not really fond of this blogging feature in Trader contest. The contest is about getting the best trader so emphasis should be given more on trading skills not on writing skills. Maybe they can implement points based on number of positive/negative trades.

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Daytrader21 1 Aug.

shanziester Thanks for your feedback. I on the other hand I can see the merits of blogging and I think is a good thing they got this new feature. However currently I lack the motivation in continuing to write  high quality post when I can post the same thing that everyone else is posting and get the same points. Maybe if they decide to give half a point for low quality blog post this will force the community members to step up their game.

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Why Do Disciplined Traders Make Bad Decisions?

Daytrader21 Posted 5 Apr.  in #Trader's blog #Discipline #Brett Steenbarger #Self Control #Self Awareness
We've all known traders who lack self-control. They react rather than act, making decisions impulsively, often based on those twin fears of missing out and losing money. It's no surprise when such traders draw down. In a very real sense, they trade their hopes and fears, not the markets in front of them.
But how about traders with excellent self-control? I know many: experienced money managers with long histories of success. Once in a while they make mistakes that they describe as rookie errors…
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ANABEVZ 5 Apr.

I can say my opinion:
There are 2 reason as for me
1. Only imagine - you always in a self control, all your emotions, feelings and reactions.. yes  - you can do it as a habit. But, there are one thing that can bring you from this condition and it's not important what value it has. Why? Because in one moment  comes a limit and emotions want to break out, all that so long accumulated.

2. when you taking more and more and more money.. there are the feelings of excitement and too much confidence.. it can push to rash actions.

All we make mistakes.. They are the part of life and experience.

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Daytrader21 5 Apr.

ANABEVZ thx for your feedback. You're right no one is immune when it comes to making mistakes.

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CommunitySupport 6 Apr.

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New Month, New Goals

Daytrader21 Posted 1 Mar.  in #Trader's blog #Risk Management #Discipline #Goals #Plan #Performance
Starting from this year I've posted at beginning of each month my GOALS for the current month and I want to track my own progress and how I grow up my experience in the markets.
This is the only way you can prove yourself that you're growing up as a trader by tracking down all your performances and your discipline to follow your plan.
Last month I was closed to be in top 10 again but due to last 2 weeks market condition I wasn't able to secure a winning place but the only progress I've made was …
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DumbAsArock 2 Mar.

Just think. You could invite Daytrader1 thru Daytrader20 over and have a party!

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jezz 2 Mar.

He doesn't party, he just works... nutcase

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DumbAsArock 2 Mar.

@Jezz...LOL

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Daytrader21 2 Mar.

@DumbAsArock LOL......@Jezz LMAO......you caught me I'm a workaholic:)))and I just can't help myself, I have such a high level of adrenaline that I can barely take a nap.But when it's party time I go crazy:)))

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jezz 2 Mar.

If you have adrenaline go bungee jumping or sky diving... party, what was that? Ever since i fell by accident from the bar a couple of years ago, I told myself "I'm to old for this crap".

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New Month, New Goals

Daytrader21 Posted 1 Feb.  in #Trader's blog #Trading #Discipline #Risk #Goals #Demo Account #Reward
Since we have entered in a new Contest Month I've decided to set new goals for the current month as last time I've managed to destroy my account from the first day. I found out that when I'm trading with the demo account I tend to take unnecessary risk and I enter some trades that I should have never look at them. From now on I want to exercise strong discipline and only take strong setups with a risk to reward ratio at least 1:2. I'm sure that I can find at least 10 trading opportunities for th…
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sankit 1 Feb.

Goodluck !! :)

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Daytrader21 1 Feb.

Thanks buddy, good luck to you as well

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