It’s been quite a while, since I posted an article. The reason is very simple:
I’ve said, what I have to say.
And you can find my trade rules here: http://globetrader.blogspot.com/2008/03/trade-rules.html
There is nothing new, spectacular, which gives me instant access to these riches mentioned in all the emails I receive daily.
Looking through all the articles I’ve written, I ask myself one question:
Why am I no millionaire?
I know what to do, I have a system, I can trade … really?
The answer, why I’m no millionaire (yet), is quite simple and is actually the only argument I remembered from a trading book I recently read.
Why can you find more than 36,000 entries on weight loss at amazon,
when there is a very simple, always working method to lose weight (if you are overweight, of course):
- eat less
- do sports
36,000 books teaching you this simple concept!
Discipline .. traders have no discipline to follow some very simple rules
- Have a system, which tells you what to do at any time (I got that one some time ago)
- Take your stop loss or target, if hit (I struggle with that one from time to time, with disastrous consequences)
- Stop, when you have made your daily, weekly or monthly goal (I failed that one completely)
I have started a daily workout in November (6 days on average with one rest day), I eat healthier and … surprise .. I’ve lost weight.
It’s slow going, it’s sometimes hard to motivate myself, but I feel better and already miss it, when I can’t do it … (I’m no gym guy, I like to exercise at home, when it fit’s in my daily routine. I got myself some Gilad DVD’s, as I like that Hawaiian background, when it’s freezing outside.)
I have adapted that same routine to my trading now.
- I have a weekly goal, which I can make with 3 winning days
- I have a daily goal, which I can make with one or two winning trades.
- I know the market I trade, as I trade just one instrument.
- I stop trading after two losing trades.
- I stop trading after two winning trades. Actually most days I do just one trade.
- I’m usually done with trading 30 minutes after the open.
It’s my system. It works, so why mess with it.
And of course