Returned back from the UK last nite after just catching my plane. There was a massive queue at Liverpool airport in which I had 15 mins to get through all the checks. Realising I was a little screwed I pushed straight to the front and somehow got back to Spain on time. I have worked out the best way to travel in my many trips back to the UK in the last 8 months. Wait for the wheels to leave the ground, shut your blind, straight to sleep, then wake up when someone says 10 minutes to landing :)
Leeds festival was awesome! Radiohead put on a show like no other. Everyone was in ore of their performance and the light show was the best I've ever seen. A must watch for anyone that hasn't had the pleasure of seeing them live. I'm just about back to normality now after a few days of recovering and looking forward to getting back trading after my break. But its not going to be straight forward as I'm moving house on Sunday. Not far from where I'm living now but getting my fast internet line installed should take a few days to be up and running. Also getting used to a new working environment takes little bit of time. Trading is very much about being happy with whats going on around you, as much as it is about reading the numbers affectively. I'm not too sure how many people realise this.....
If you have stress in your life of any kind it will affect your trading performance. Even if its good news sometimes even this can distract you from making money. I'm amazed how level headed you have to be in your own life to trade to the standard you are capable of. You have to clear your mind of all things that could possibly affect your trading, and get focused on those numbers and spotting trends. The best way to do this is emurse yourself in your computer and don't concentrate on anything else. Don't browse around on facebook and youtube inbetween races, its the last thing you want when your trying to seperate yourself from the outside world. Try and forget about any negativity and pump yourself up for battle. Easier said than done I know but you simply have to get your mind working at its peak if you want to make a living out of trading. Also your setup at home has a dramatic affect on your totals. Having ample space to work in, working in a quiet place, having a clean workspace, having the necessary hardware to ensure everything runs smoothly, not answering your mobile whilst trading. All these things and many more is what all full-time traders make sure of. You have to treat this like a job and realise that all these factors will ensure you stay focused and disciplined throughout the day.
I will make a new post regarding my new setup sometime next week when I'm sorted at my new place. Also I will answer the questions on my last post after todays racing.
Hello Jack, hope you are having a profitable week. With your style of trading do you, for the most part, try to catch a favourite or one of the three at the top end or bottom end of its trading range? If so, any advice on how to spot those points as it often seems to be a moving target, and just when you think you've nailed it the price continues out or in! But in general it is best to play the outer edges of these ranges or trade in the middle when the wom shifts up and down? Thanks and look forward to your course when it's announced. Mike
ReplyDeleteMike - I do tend to try and predict when the market is turning, as that's often where you can get the majority of a big move going in your favour. However as you say it's a moving target and this is something I have worked on for years fine tuning my entry/exit points. The style I use can be risky but very rewarding when you get it right. I would reccommend trying to read how much flow/momentum is stilling pushing that price. Is there a lack of money getting taken on the other side that could potentially swing it back again. Are there any big bets that have been fired in on the other side that could start a move. When you see the market slowing down there's always a chance of it turning. Hope this helps
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