Wednesday, June 17, 2009

One trade at the time

I was reading a book the other day, and I’ve found very nice quotation that reads as follows: 

“We are building one relationship at the time.”

That made me think about trading and how we could do the same in our endeavor of reaching our goals in trading.

Many beginners start trading big from day one. They also start with thoughts of millions that will just pour into their trading account and simply - all they think of are thousands of points that will be earned by simply pressing sell-or-buy-button. Unfortunately, it is not that easy.

Getting to the point where you start to make money consistently in trading is probably one of the most difficult, if not, the most difficult endeavor in your life. There are many reasons for this and I will address them in post that will follow, but for now, I would like to make a point that the most important trade that you will ever experience, in any fragment of time, is the very trade that you are at that particular moment. Simply, trader must be absolutely focused on current trade or trades and all important elements of that trading decision: entry, exit, stop-loss, risk and market behavior. 

Let’s assume that you are about to enter the trade at this moment – That is your most important trade that I am talking about: Trade that you are preparing for, executing, watching market when you are in trade, exiting at the end and recording all important details in your trading journal. And, of course, when you are done with that trade, then it is time to find and execute a new one and that’s how our trading lives go on.

So, if you want to make it in this game - concentrate on only one trade at the time, as trading success is to be reached just in that simple sequence of one trade at the time.

Trade well.

9 comments:

Anonymous said...

Igor

I don't understand!

Please can you explain again in different way please.

Great blog.

Many thanks.

Alsi Trader said...

It is very easy - what people are doing, they are "COUNTING CHICKEN BEFORE THEY HATCH". Simply, they are making big plans with money they hope to be making.

Instead, they should concentrate on every single trade individually by trying to get best price on the entry, by checking what market is doing and by deciding when it is time to close the position and how to close at good price.

As I said - this is marathon run and you are running it one step at the time.

So, why don't we do the same with trading?

Anonymous said...

Hi Igor

Great blog, thanks.

Can you please write something about money management rules eg.
contracts
leverage
% of equity used per trade etc.

thanks

Alsi Trader said...

Thanks Anonymous,

Next post will cover that subject.

Unknown said...

chanel handbags, gucci outlet, michael kors, louboutin outlet, louis vuitton outlet, oakley sunglasses, prada outlet, oakley sunglasses, nike outlet, ugg boots, uggs on sale, ray ban sunglasses, longchamp pas cher, oakley sunglasses, nike air max, louboutin shoes, burberry, louboutin, polo ralph lauren outlet, longchamp, louboutin pas cher, longchamp outlet, louis vuitton, ralph lauren pas cher, tiffany and co, air jordan pas cher, jordan shoes, tiffany jewelry, nike air max, kate spade outlet, christian louboutin outlet, louis vuitton outlet, replica watches, prada handbags, cheap oakley sunglasses, louis vuitton, ray ban sunglasses, ugg boots, longchamp outlet, sac longchamp, oakley sunglasses, polo ralph lauren outlet, nike free, nike free, tory burch outlet, replica watches, air max, louis vuitton, nike roshe run, ray ban sunglasses

Unknown said...

michael kors outlet, kate spade handbags, true religion outlet, nike air max, coach outlet, ralph lauren uk, timberland, michael kors outlet, michael kors, hollister pas cher, michael kors, air force, michael kors outlet, nike roshe, tn pas cher, north face, coach purses, nike free run uk, hogan, ray ban uk, north face, vans pas cher, mulberry, michael kors outlet, sac guess, ugg boots, new balance pas cher, michael kors, nike air max, true religion jeans, hermes, replica handbags, true religion jeans, true religion jeans, michael kors outlet, vanessa bruno, nike blazer, hollister, burberry outlet online, coach outlet, michael kors, burberry, nike air max, lululemon, converse pas cher, lacoste pas cher, ugg boots, abercrombie and fitch, oakley pas cher, ray ban pas cher

Unknown said...

herve leger, converse outlet, p90x workout, ralph lauren, mcm handbags, nike air max, new balance, hollister, gucci, birkin bag, chi flat iron, louboutin, ferragamo shoes, oakley, ray ban, hollister, nfl jerseys, converse, asics running shoes, hollister, ghd, longchamp, wedding dresses, soccer jerseys, iphone cases, insanity workout, north face outlet, vans shoes, giuseppe zanotti, baseball bats, abercrombie and fitch, reebok shoes, vans, nike trainers, nike huarache, north face outlet, mac cosmetics, valentino shoes, nike roshe, instyler, bottega veneta, mont blanc, soccer shoes, nike air max, jimmy choo shoes, timberland boots, lululemon, babyliss, celine handbags, beats by dre

Unknown said...

montre pas cher, ugg pas cher, moncler, louis vuitton, bottes ugg, coach outlet, canada goose, thomas sabo, pandora jewelry, barbour, links of london, toms shoes, moncler, moncler, replica watches, juicy couture outlet, swarovski crystal, juicy couture outlet, canada goose, pandora charms, canada goose outlet, wedding dresses, pandora jewelry, louis vuitton, marc jacobs, lancel, canada goose outlet, canada goose, louis vuitton, canada goose, ugg,uggs,uggs canada, moncler, moncler, moncler outlet, ugg,ugg australia,ugg italia, pandora charms, canada goose uk, barbour jackets, karen millen, swarovski, doudoune canada goose, louis vuitton, hollister, sac louis vuitton pas cher, moncler, moncler, supra shoes, ugg boots uk

alitergalen said...

Apply to join our dynamic, friendly team of professionals for a career in Forex.