PPT and Important Recap from Last Meetup Nights 9/27/12

From: Jay
Sent on: Friday, September 28, 2012 8:58 AM
Good Morning Everyone!  

Another glorious trading day! 

Hope you had a good time last night.  I always do!  I am sharing last nights PPT through Google as PDFs ( links below). 

While doing that I thought it good to review a few important points I tried to make last night:

  • The Head and Shoulders second entry setups that were the focus last night are NOT the only trade setups of the day!  
  • The Head and Shoulders second entry setups are usually Not the biggest runs of the day.  They are entries with a high chance of success for at least a scalp. 
  • The Devil is NOT in the details :  Do not be a nit picker.  Trading is not a red light green light discipline. Traders operate in a world of grey and fog. If your a nit picker your going to be too busy with the details to generate awareness of price.  Nit pickers are often very omniscient, experts on all points of trading, and they almost never succeed.  
  • Chose what works for you.  Study it, apply it and generate faith in your entries.  Americans have no faith anymore. Many have lost the ability to develop it.  The success in trading relies on your ability to regain faith.
  •  Entries with a high chance of success build faith, from faith builds confidence. 
  • The concepts that foster success in trading are fairly simple!  Trading however is not.  It takes top athletes, on average, 10,000 hours of intensive training to become the best.  Your fooling yourself if you think there is an easier or faster way. 
  • Work with others in the Meetup group.  Attend book studies, attend meetups, stand up and present, be an active participant. Napoleon Hills 4th success principle is "Go the Extra Mile."  Utilize it. 
Ask yourself the same question I asked last night.  Did you make 16 ticks yesterday?  Expand on that question, did you average at least 8 ticks per day over the last week?  the last month?  the last year? 

If you have been attempting a career at trading for an extended period of time and your answer to the above question is no, something is wrong, your not aware!  How many hours, days, years and how many dollars can you afford to spend down your present path. Only you can honestly answer this. 

This is not to said to bully anyone, pick on anyone or demean individuals.  It is said to wake you up.  All anyone wants is to succeed. 

Here are the links to the PPT PDF's.  Have a great weekend! 

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