Getting Focused For 2011
Trading Focus
I’m back again just adding some additional tips for our new traders following an influx of questions which I will try to post as many responses as I can on the blog to ensure everyone is benefiting from the information.
Today’s article is title ”Getting focused for 2011". This is one thing that I believe many of us battle with on a daily basis. As we become more and more connected via email, facebook, twitter, Youtube and a multitude of other forms of online social communication, it is difficult for us to maintain our trading focus during our live session.
That, coupled with the proliferation of email marketing spruking the latest, greatest system all pulling our attention away from the task of developing and executing our trading plan.
We know that we need to stay focused and stick to our plan, however marketing companies are very good at making you feel as though you may just be missing out on the" best system every produced". Again we come back to that concept of controlling our desire to be right and maintain our internal control.
The trouble is that if you have had limited success with your trading then the desire to finally break through is often overwhelming and drives us to be continually searching for that perfect system which leads us to jumping from one system or methodology to the next.
However the reality is that to achieve success at this game as a new trader you need to maintain your trading focus on one thing at a time. You true keys to success will come from:
1. Mastering your internal control;
2. Developing and executing a trading plan that suits your personality, style and objectives;
3. Monitoring your systems performance (expectancy)
4. Following a money management plan and position sizing strategy; and finally
5. Continuous review and improvement to help build confidence.
Trading focus, once mastered helps us find a nice balance in our trading. We do spend time in our Pro-Trader Program achieving this trading focus. Until my next blog update have a super day. Cheers
Shane Fry Shane@globalmarkettrader.com . www.GMTFutures.com
About the Author
Global Market Trader is a company forging the way forward in trading education and Trading Focus. The company has the perfect mix of Professional trading experience over 16 years of system development and trading education.
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