- The magical secret - it's tricky, do what make you money and do more of it. Always look for an extra thing that's going to put you over the top
- Ask other traders what works for them. Information beats out execution.
Preparation
- Come in early, check the news
- Looking at stocks that gap up or down, sectors like oil, gold, financials
- Big money flows in IBD
- Get in by 7:30, ready to pull triggers at 8:15
- Good breakfast in the morning
- Mini conferences with 3, 4 other people to get some ideas that might make you $300, $400
- Remind yourself about yesterday, which trades did I work well, what did I learn yesterday
- Visualize the day, what it might do and what I might do to react
Determining risk/reward
- Look for things to keep you in instead of cutting them off, some of the best guys end up keeping their stock even 8 times its risk
Habits of Best Traders
- Call out trades, swap ideas and build a network of information
- Think about how I can do more trades with the same risk
- Review trades, half to 2/3 of my mistakes are getting out too early
- Hedge fund masters book?? Read about setting goals... what is my goal and how I'm going to get there
- Relative and absolute measurement: most of us are accustom to measure ourselves against other people and cap ourselves out.
- Masters focus on did I do everything well to the best of my ability.
- Focus on yourself, not other people.
- Make an X amount of time talking to top traders and on technology
Hybrid Market
- U quote is working, except in the first 30 minutes and it could go against you very quickly with a big print
No comments:
Post a Comment