Attention STRESS-OUT Day Traders - This Method Can Help

 

!!! Attention STRESS-OUT Day Traders!!! Would you like to trade like A Zen Master | Completely Focused and In THE ZONE?  Hi, This is Immy and today I have a special gift for all of you "Stress-out Day Traders"   As you probably know here at iTradeAIMS we are big on the  "The Mind - Psychology " side of trading.    Our Mantra is that "80% of Trading Success in The Mind".  Ok, So, I have written 3rd Edition of my Book Activating The Zone.  This third version was completed and released earlier this year.  Today I'd like to GIVE IT TO YOU FREE.  Simply Login to Your Members Dashboard and Click on Lesson 18.  NOT A Premium Member? If You're not a Member then Visit  www.ActivateTheZone.com to GET A Copy of the 3rd Edition of Activating The Zone Book.  Hope you enjoy it and if you do please do send me feedback by replying to this email. Sincerely,

Your Trading Buddy    Immy Yousafzai  Blog: www.iTradeAIMS.com JOIN NOW: www.iTradeAIMS.net Forum: www.iTradeAIMS.net/forum Facebook: iTradeAIMS Members Login Here

Winners Vs Losers Analysis

The following is an image of a trader's winners vs Losers analysis on an hourly basis.

The traders has a track record of 50% win rate at 10 am which is London Open

but 70% Losers during the 1600 hrs which is US Session.

The BIG QUESTION IS

What time should this trader be trading?

This trader trades the DAX30 / German 30 Stock Index at the London Open and Later he trades US30 / DJIA / Dow30 during the US Session. 

Now Let's Compare to that, the following. 

This is an image of a trader's performance by the hour. She trades the DAX30 only. Mostly during the first hour of the London Session.

Look at the Stats on the screenshot and then Question ...

Does this trader even need to trade past the first hour of the London Session?

Have you ever done an analysis of your performance like this?

Secrets of Top Performing Traders - By Linda Raschke

Key Ingredients to Performing Your Best

...by Linda Raschke

Passion. 

You must be passionate about what you are doing and having fun. Passion first, then performance.

Confidence. 

Top performance comes from having a high degree of confidence. You must have the confidence that you can take control and face adversity. You must also be confident that you will have a favorable outcome over time.

Concentration. 

Peak performance comes from exceptional CONCENTRATION. You must concentrate on the process, though, not the outcome. A sprinter who is in the lead is thinking about the wind on their face, how relaxed their arms are, feeling the perfect stride…they are totally in the moment. The person who does NOT have the edge is thinking, “Oh, that runner is pulling ahead of me…I don’t know if I have enough wind to catch the leader…” They are tense and tight because they are thinking about the outcome, not the process.

Resiliency. 

Great performances come from being able to rebound quickly and forget about mistakes.

Challenge. 

Great performance comes from pushing yourself and trying to overcome limitations. Staying in the safe zone becomes a monkey on your back. Challenge yourself to take that hard trade. Manage it. If it does not work out, so what…your risk was limited and you can pat yourself on the back for taking the hard trade in the first place.

See and DO … don’t think! 

Great performance comes from turning off the brain and becoming automatic. This is being in the Zone …in the groove. You can’t overanalyze the markets during the trading day.

Relaxation. 

When you are relaxed, your reflexes and timing are superior because you are loose.

Do I need to worry about Leverage or Margin?

Well, before we talk about leverage or margin and whether to use margin or not.

Let me address a rather more v.important aspect to this concept of trading, all of course, in my humble opinion.

None of the traders are ready for trading. That is why there are protections. I would consider myself lucky that I can find brokers who'd allow me trade a demo account with nearly the same prices and executions (executions really does not matter on the higher time frame though a pip above or below my po or SL is no issue there) Again, I'd like to stress on the fact that LEARNING TO TRADE CORRECTLY is a necessary requirement  before you decide to  trade a live account. Going for live account without first completing for instance 5 batches of T20 principle  would be, in my humble opinion, a very stupid and reckless thing to do. You'd rather give me your money.  :p

Trading is a skill that requires a lot of practice. Its a VERY lucrative skill but it requires practice. You must first make sure you have the following things.
1. A Trading Strategy which gives you an edge [aims methods have this covered]
2. Acquire an in depth understanding of the above.
3. Gain practical experience in the above.
4. Demo trade the strategy and maintain a discipline score for each trade and batch of 20 trades. Do at least 5 batches ( 5T20's)and maintain an average of 70% discipline score with none of the T20 batches less than 50% score (if a batch has less than 50% score, you might want to scratch that and repeat it).

This is a rough guide to How to become a Disciplined Trader. 

I'd like to suggest that in order to become a profitable trader you have to follow at least 2 steps.
1. Learn to Trade using a demo account.
2. Learn to trade using a live account.

Not so difficult to understand is it? Just two steps. Now, by demo I don't mean that you open a trade here and there and close it haphazardly. The idea is to recreate an experience and environment that is similar to the actual but without the RISK of losing money.  This would give you that "stress free state of mind" the one that is "Risk Free".

If you have not yet been able to keep at least a demo account and remained "disciplined" you cannot move forward. We see many players doing net Practice and they look fantastic but they fail miserably when it comes to "matches". [cricket analogy] 

Because during practice we lacked an important ingredient. FEAR/RISK. However to trade demo without Risk or FEAR factor is EXACTLY the purpose of Demo Trading. You want to perfect your skill so that it becomes "second nature". So, to become the best at what you do, you don't have to play as many matches as possible rather you practice as many hours as possible before you go for a match. So that you don't have to "think" what to do next during the live event, rather you KNOW exactly what to do without "thinking". Its your instinct.

[Are you telling me demo is waste of your time? then you don't believe in or does not understand the concept of Practice. And Yes, you have to write one beautiful Trading Plan, before you can trade, Else every trade will be classed as Zero Discipline Score] 

I'm trying to help the members who connect with me through Skype, and the hunt section of the forum, to become profitable by first becoming disciplined traders. In a way i'm selling the idea but the intent is purely to help. 

cheers and hope this helps a little...

ps: i don't care what leverage is there, its irrelevant until you have learned to trade correctly, you must first learn to trade. Just as I don't care how expensive is Formula 1 car, first I need to acquire the skill to be considered for driving one. And I don't have that skill so Formula 1 racing car is "of no value to me". Fun to watch though, those who can. 

Trusting Your System and Objectivity

It is very important to trust and continue to take objective actions as you process
the trading signals generated by your system. 

We have to learn to accept and take action based on the information given to us by the market
through the medium of our trading system. We have to accept and understand what the chart tells us
 rather than focus more on our  "feeling" about it.


Don't trade with your feelings or what you think about the markets. Our thoughts often take us
into the future trying to predict or they take us to the left of the chart pondering over the past.
Our thoughts make us look into the history tab of our platform or the running profit and loss for the day.


On average we experience and process 60,000 thoughts a day. And these thoughts make themselves
 known to us and get manifested inside our body as emotions and feelings. Yes, thoughts manifested
 are emotions, we feel emotions, we feel the manifestations of our thoughts. When you feel anxiety,
 stress or boredom it is because of the thoughts you have processed earlier.
The thought process happens ahead of those emotions.


So when you become aware of your emotions that you don't want or like you know that you have been thinking the wrong things. If you remain conscious at all or most of the time you will be in control of how you feel.


So our feelings are our feelings. They are inside of us. But the information that we see on the chart
are coming from outside, from the external environment. They become part of our inner self, the
internal environment but don't come from within.


What we need to is to respond in the manner that is the most objective and accurate. In order to
achieve that we have to find out and decide and document our course of action well in advance. The
actions that we take must have been already planned ahead of time.


Stop judging your template, your trading system or signals. Simply accept the information and take actions accordingly. If you're not sure then say no thank you with gratitude. But keep an eye open.


When the game is over you'll have the chance to go over the days performance and find out how well you did. IF you have passed valid set-ups you can then compare and analyse why did you perceive what you did and why did you take the course of action that you took. Was your perception correct or was it not.

If it was not, was it due the cloud of fear and greed or other emotions or was it based on market generated information?


If it was based on "objective" mental and technical analysis then you have done well but if it was a result of any of the negative emotions then you've made mistakes. It is time to enforce your disciplinary procedures which should have been laid out in your written trading plan.

May the Pips be with you!