Just Breathe While You Trade - Part 1

I've watched a lot of guys through the years, and they hold their breath until they finally win The Big One, thinking then they can exhale and chill out. You have to breathe through life, man. Have fun.

Lee Haney

Lee Haney won Mr Olympia (8times) in a row. I know close to nothing about body building but this quote is just so reminiscent of trading.

I have been putting into practice 2 valuable lessons this week. And they seem to have improved my trading a whole lot. By a whole lot, I mean leaps and bounds.

Less trading but surprisingly, better results.

"The market is one of the greatest teachers. It reveals itself to all of us each and every day if we are willing to pay attention. Too many times we try to box it, label it, or beat it."

Raghee Horner: ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street

I haven't been trading much this last week because of Chinese New Year celebrations. It is our equivalent of Thanksgiving and Christmas all rolled into one weekend.

Old habits die hard! So I'm learning to kick them, one trade at a time.

"As I studied the problem, I saw that it wasn't a case that called for reading the tape but for reading my own self."

Edwin Lefèvre: Reminiscences of a Stock Operator (A Marketplace Book)

One year after my venture into trying to trade for a living, I realized that trading was a lot more about psychology than having the "holy grail" of a trading system. Albeit, you need to have some kind of system to base your trade entries. But it's evident that even with a 50% win ratio, you can make money while trading.

Here's an Idea on How to Keep Out of Choppy Markets

"It is absolutely necessary to have an edge."

Jack D. Shwager
The New Market Wizards: Conversations with America's Top Traders [Paperback] 1992

Wouldn't it be nice if you could get money to flow into your head continuously? Or else, maybe I could get ideas that would make me money all the time - instantly.

I'm fighting back ...in the direction of the trend.

"What counts is not necessarily the size of the dog in the fight - it's the size of the fight in the dog." ...Dwight D. Eisenhower

For the last week and a half, I have been having some pretty strange trading days. It's been a roller-coaster ride with break-even days and loss days.

Notice I didn't say win-days.