Unbelievable! My first blog post; thanks to The Fly for making it SO easy!
Upon introduction to The Fly blog, I couldn’t believe the level of creativity in self-expression. Reading stock market blog actually becomes FUN and entertaining!
I figured after reading all the creativity, it is time for me to contribute my 2 cents.
I’ve come a long way to become a net winner in this lifetime of trading. My pursue of trading excellence took me from reading zillion of trading books to finally settling down to more meditation at the end. Oh yeah, throw in Tai chi and Black Jack card-counting technique in the midst. Card-countng!? Yeah, I will explain soon enough.
It took me years before I realized that reading trading books would not make one a good trader; especially when one’s mind is not ready (or in another manner of speaking, when one’s mind is not opened).
Let me lay out my definition of an open mind from years of watching myself. My mind can only be opened when I cease the obsession on the thoughts that flow by me non-stop. How many of you pay attention to the clouds that passed by the sky above you every day? Not too many I dare say. Then why can’t we ignore our thoughts the way we ignore the clouds in the sky?
Until the day I ignore my thoughts and experience the silence within, I could not see the market clearly. Why? ‘cause my occupation on my thoughts pretty much fill-up all the mind-space in my head that there is very little room for the new ideas (or trading techniques) to germinate; not to mention I also have little room to listen to what the price action is trying to tell me.
It is only logical then that I began pursuing the art of Tai Chi and meditation. Both were instrumental in helping me to become the trader I’m today.
What about Blackjack card-counting I mentioned earlier? How did that fit in my training? Well, it is not the card-counting skill that helped but the drilling into my mind that losing money is mandatory to win money. Do you know that in order to win in Blackjack using card-counting technique, you literally have to play every single hand knowing that you will lose most hands until the cards begin to count in your favor?. Once you got that concept wired into your mind, you will not hesitate making a trade in the stock market due to fear of losing. For losing is very much a part of trading. Learn to love your small losses knowing that once the count (or the technical analysis) is in your favor, you can make it all back and more by playing smartly with money management. I believe The Fly has demonstrated this concept every step of the way.
One more thing, pick your favorite stocks and stick with them. Learn everything about these stocks and trade these core stocks to increase your wealth. Did you notice that once the market turn bullish (or bearish), pretty much “most” stocks will follow the same direction? So, what better medium to gain your wealth by trading only the ones you know best (due to years of observations)?
So there you have it, together with a quiet mind that give you the ability to listen to the price-action and your familiarity with the stocks you are trading, you develop trading intuition.
In summary, in silence we intuit!
So end my first blog post. Due to my need to stay quiet during the trading week, I will limit my post to weekend only.
Happy Trading to All!Comments »