Just read this article by trading instructor Richard Krivo.
Every trader is guilty of this and I for one am one of the biggest culprits of this losing mentality. Somehow I just can't seem to shake it off as well as I think I can.
Anyway, to cut the long story short, here are 3 points to note from that article (I'm posting it here because I'm trying to remind myself!).
(1) Acknowledge that you WILL have losing trades
"If a trade moves against you, as a trader you need to be willing to accept that loss just as you are willing to accept the winning trades. Since you are trading with risk capital, money that you can afford to lose, a trader must be OK with that loss as it will not affect their life style one tiny bit. Losses are simply a part of trading.
(If you are not trading with risk capital, stop trading!)
Once a trader accepts that concept, they will be more inclined to let a trade “play out” and not jump at the chance to lock in a tiny bit of profit or become distraught as a trade begins to move against them and close out the position."
(2) Be certain that you are taking higher probability trades
When a trader knows that they are trading a pair that is in a strong trend, they will have the courage of their conviction to be able to “stick with the trade” as it is in a strong trend. (This does not mean that sticking with a trade in the direction of the trend will insure a winning trade. It does mean, however, that you will be taking trades that have a greater potential for success.)
Once you have decided on the higher probability pair you will trade and know where you will place your initial stop and limit, when the trade executes…leave it alone! Promise yourself that you will only let the trade limit out or be stopped out.
(3) Follow the principles of money management
So when the losing trades occur, your losses will be small and manageable.
Now to practice what I've just blogged.
Happy trading people!!!
Tuesday, February 28, 2012
Monday, February 27, 2012
Norwich 1 Manchester United 2
Sigh.
How many times must the team put us through such games.
1. Giggs scored the winner in the 92nd minute of his 900th appearance for Manchester United. What a way to celebrate his longevity. Plus he was good enough to last almost the whole game. The guy should just get a knighthood already!
2. Scholes, who scored the first goal was another oldie who deserved praise, pulling all the right strings in midfield and keeping it buzzing nicely until Norwich's goal in the 83rd minute.
3. The rest of the outfielders really didn't play very well today. Notably Nani, Hernandez and Jones were really out of sync.
4. While Hernandez was replaced by Ashley Young, it baffles me that Nani could stay on all game. The boy hardly got a cross right and it seems as though he was instructed not to dribble,
5. The only good mention otherwise, is my MOTM, David de Gea. He's been getting tons of criticism but the last few games especially this one, were outstanding. I think he made at least 5 brilliant saves to keep us in the game today.
6. The combination of Evans and Ferdinand is very good, though not rock solid, but they provide very good protection for de Gea, especially during crosses and corners. Can't wait for Vidic to be back.
7. Somehow without Rooney, the team just doesn't seem to have much of an attacking verve.
8. Carrick and Scholes combo in midfield is very good too. Not outstanding, but good enough. It's obvious that Scholes can only last 70 minutes a game.
9. Evra and Welbeck definitely try the hardest. Somehow they don't play exceptionally well, but their work rate and effort to lunge for every ball is commendable. Once again, not outstanding but good enough.
10. Arsenal came back from 0-2 down to win 5-2 against Spurs. Seems like Spurs have a bad habit of conceding comeback goals. Good news is Parker got a red card so he can't face us next weekend!
GGMU!!!
How many times must the team put us through such games.
1. Giggs scored the winner in the 92nd minute of his 900th appearance for Manchester United. What a way to celebrate his longevity. Plus he was good enough to last almost the whole game. The guy should just get a knighthood already!
2. Scholes, who scored the first goal was another oldie who deserved praise, pulling all the right strings in midfield and keeping it buzzing nicely until Norwich's goal in the 83rd minute.
3. The rest of the outfielders really didn't play very well today. Notably Nani, Hernandez and Jones were really out of sync.
4. While Hernandez was replaced by Ashley Young, it baffles me that Nani could stay on all game. The boy hardly got a cross right and it seems as though he was instructed not to dribble,
5. The only good mention otherwise, is my MOTM, David de Gea. He's been getting tons of criticism but the last few games especially this one, were outstanding. I think he made at least 5 brilliant saves to keep us in the game today.
6. The combination of Evans and Ferdinand is very good, though not rock solid, but they provide very good protection for de Gea, especially during crosses and corners. Can't wait for Vidic to be back.
7. Somehow without Rooney, the team just doesn't seem to have much of an attacking verve.
8. Carrick and Scholes combo in midfield is very good too. Not outstanding, but good enough. It's obvious that Scholes can only last 70 minutes a game.
9. Evra and Welbeck definitely try the hardest. Somehow they don't play exceptionally well, but their work rate and effort to lunge for every ball is commendable. Once again, not outstanding but good enough.
10. Arsenal came back from 0-2 down to win 5-2 against Spurs. Seems like Spurs have a bad habit of conceding comeback goals. Good news is Parker got a red card so he can't face us next weekend!
GGMU!!!
Monday, February 20, 2012
Time For Linsanity
You know he's made it when in slightly more than a week the guys rockets all the way to the front cover of Time magazine. How cool is that?
Anyway I've decided to save a copy for my grandkids so that I can proudly say that I watched this kid play.
It'll go nicely with the rest of my dusty basketball memorabilia. Gosh I feel young again. And trust me there is a whole generation of guys my age who grew up fantasizing about playing in the NBA idolizing Jordan, Pippen, Shaq, Malone, Ewing, Stockton et al.
Something about him being Asian, a Harvard grad, AND a previous nobody thats screwing with our minds now.
7th Gym Session Of The Season
Slowly but surely racking up the participation count.
Today's BodyCombat session felt somewhat less intensive. Dunno if it's the session is less xiong or that I'm getting fitter (I prefer to think that way).
Plus Caesar salad lunch.
Whoooot!!!
Today's BodyCombat session felt somewhat less intensive. Dunno if it's the session is less xiong or that I'm getting fitter (I prefer to think that way).
Plus Caesar salad lunch.
Whoooot!!!
Friday, February 17, 2012
Singapore History Tour
Check this page out.
The website shows Singapore through the ages.
Pretty cool if we had access to this back when we were studying history in school.
The website shows Singapore through the ages.
Pretty cool if we had access to this back when we were studying history in school.
Tuesday, February 14, 2012
Happy Valentine's Day
I had a good V-day today.
It wasn't romantic (I've never been), but it was really good.
I wonder how long more the stock market can defy gravity?
It wasn't romantic (I've never been), but it was really good.
I wonder how long more the stock market can defy gravity?
Sunday, February 12, 2012
Bandung
Did you know that Bandung the rose syrup with milk drink didn't come from Bandung the Indonesian city?
Monday, February 06, 2012
6th Gym Session Of The Season
Managed to force myself to go for BodyCombat again today.
So tired its not funny.
I think I ripped my pants at some point.
Followed that up with a Caesar salad and blackberry/mango slurpee.
How's that for a healthy afternoon?!
So tired its not funny.
I think I ripped my pants at some point.
Followed that up with a Caesar salad and blackberry/mango slurpee.
How's that for a healthy afternoon?!
The Flowers Of Manchester
The Flowers Of Manchester
One cold and bitter Thursday in Munich, Germany,
Eight great football stalwarts conceded victory,
Eight men will never play again who met destruction there,
The flowers of English football, the flowers of Manchester
Matt Busby's boys were flying, returning from Belgrade,
This great United family, all masters of their trade,
The pilot of the aircraft, the skipper Captain Thain,
Three times they tried to take off and twice turned back again.
The third time down the runaway disaster followed close,
There was slush upon that runaway and the aircraft never rose,
It ploughed into the marshy ground, it broke, it overturned.
And eight of the team were killed as the blazing wreckage burned.
Roger Byrne and Tommy Taylor who were capped for England's side.
And Ireland's Billy Whelan and England's Geoff Bent died,
Mark Jones and Eddie Colman, and David Pegg also,
They all lost their lives as it ploughed on through the snow.
Big Duncan he went too, with an injury to his brain,
And Ireland's brave Jack Blanchflower will never play again,
The great Matt Busby lay there, the father of his team,
Three long months passed by before he saw his team again.
The trainer, coach and secretary, and a member of the crew,
Also eight sporting journalists who with United flew,
and one of them Big Swifty, who we will ne'er forget,
the finest English 'keeper that ever graced the net.
Oh, England's finest football team its record truly great,
its proud successes mocked by a cruel turn of fate.
Eight men will never play again, who met destruction there,
the flowers of English football, the flowers of Manchester.
- Unknown (October, 1958)
One cold and bitter Thursday in Munich, Germany,
Eight great football stalwarts conceded victory,
Eight men will never play again who met destruction there,
The flowers of English football, the flowers of Manchester
Matt Busby's boys were flying, returning from Belgrade,
This great United family, all masters of their trade,
The pilot of the aircraft, the skipper Captain Thain,
Three times they tried to take off and twice turned back again.
The third time down the runaway disaster followed close,
There was slush upon that runaway and the aircraft never rose,
It ploughed into the marshy ground, it broke, it overturned.
And eight of the team were killed as the blazing wreckage burned.
Roger Byrne and Tommy Taylor who were capped for England's side.
And Ireland's Billy Whelan and England's Geoff Bent died,
Mark Jones and Eddie Colman, and David Pegg also,
They all lost their lives as it ploughed on through the snow.
Big Duncan he went too, with an injury to his brain,
And Ireland's brave Jack Blanchflower will never play again,
The great Matt Busby lay there, the father of his team,
Three long months passed by before he saw his team again.
The trainer, coach and secretary, and a member of the crew,
Also eight sporting journalists who with United flew,
and one of them Big Swifty, who we will ne'er forget,
the finest English 'keeper that ever graced the net.
Oh, England's finest football team its record truly great,
its proud successes mocked by a cruel turn of fate.
Eight men will never play again, who met destruction there,
the flowers of English football, the flowers of Manchester.
- Unknown (October, 1958)
Chelsea 3 Manchester United 3
What a game man, what a game!
From 0-3 down, we came back to draw 3-3!!! OMG this is exhilarating!
1. WTF were we doing the first 60min I have no idea. It seems the team didn't have any ideas too. Play was lackluster and our defense was all over the place when the goals were scored. Why did Evra let Sturridge get the shot off for the first? No one was marking Mata for the second. And Rio was not marking Luiz when he should be for the third!
2. Sure, we scored the first two with penalties but they were legit and we should have had two more in the first half. We were getting kicked all over the park!
3. Valencia is still a monster. He's carrying the whole team right now. That being said, big props to Evans for a good game, even if he scored the first goal for Chelsea.
4. I feared the worst with de Gea in goal, but aside from still preferring to punch rather than collect inswinging balls, he made a string of really good saves in the last few moments, hence I can't complain.
5. David Luiz is a fucking bully! Same with Ivanovic.
6. The game changed when Scholes came on. We started controlling the midfield better and I think it helped Rooney and Carrick play better as well.
7. The equalizer scored by Chicharito was a beauty. Thank goodness he's always around at the right time.
8. Evra complained alot today maybe because we were getting pushed around alot. I was afraid he'd get a red card soon for dissent. Nonetheless I thought he had a pretty good game aside from being given the slip by Sturridge for the first goal.
9. Carrick had an unusually bad game today. Seemed to have very little ideas until Scholes came on. Seems like the better midfield partnership is Carrick and Scholes. Welbeck was also getting pushed all over the park.
10. A tough month with Tottenham and Liverpool still to come. But so far, it's been good. If we can keep this form, I'm sure we will pip Man Shitty to the title.
What a game!!! It's actually been awhile since we had such a comeback so even with a draw, it feels like at least we got something out of the game when all hope seemed lost in the first 60min.
Believe!!!
GGMU!!!
From 0-3 down, we came back to draw 3-3!!! OMG this is exhilarating!
1. WTF were we doing the first 60min I have no idea. It seems the team didn't have any ideas too. Play was lackluster and our defense was all over the place when the goals were scored. Why did Evra let Sturridge get the shot off for the first? No one was marking Mata for the second. And Rio was not marking Luiz when he should be for the third!
2. Sure, we scored the first two with penalties but they were legit and we should have had two more in the first half. We were getting kicked all over the park!
3. Valencia is still a monster. He's carrying the whole team right now. That being said, big props to Evans for a good game, even if he scored the first goal for Chelsea.
4. I feared the worst with de Gea in goal, but aside from still preferring to punch rather than collect inswinging balls, he made a string of really good saves in the last few moments, hence I can't complain.
5. David Luiz is a fucking bully! Same with Ivanovic.
6. The game changed when Scholes came on. We started controlling the midfield better and I think it helped Rooney and Carrick play better as well.
7. The equalizer scored by Chicharito was a beauty. Thank goodness he's always around at the right time.
8. Evra complained alot today maybe because we were getting pushed around alot. I was afraid he'd get a red card soon for dissent. Nonetheless I thought he had a pretty good game aside from being given the slip by Sturridge for the first goal.
9. Carrick had an unusually bad game today. Seemed to have very little ideas until Scholes came on. Seems like the better midfield partnership is Carrick and Scholes. Welbeck was also getting pushed all over the park.
10. A tough month with Tottenham and Liverpool still to come. But so far, it's been good. If we can keep this form, I'm sure we will pip Man Shitty to the title.
What a game!!! It's actually been awhile since we had such a comeback so even with a draw, it feels like at least we got something out of the game when all hope seemed lost in the first 60min.
Believe!!!
GGMU!!!
Sunday, February 05, 2012
Mio
Ever since I subscribed to Mio Stadium together with the free basic Mio channels, I have been rooted at home alot more than before. And I haven't looked back. I just love it!
It's all due to the football and sports channels that keep me glued to the tv at night without the hassle of commuting to the nearby bar to catch the latest Man U match.
The rest of the Mio basic channels actually suck. There's a much better offering with Starhub if you're into entertainment cable channels. But since it's free...
Singtel's monopoly on English soccer is till 2013. Wonder how the charges will change when that time comes about?
It's all due to the football and sports channels that keep me glued to the tv at night without the hassle of commuting to the nearby bar to catch the latest Man U match.
The rest of the Mio basic channels actually suck. There's a much better offering with Starhub if you're into entertainment cable channels. But since it's free...
Singtel's monopoly on English soccer is till 2013. Wonder how the charges will change when that time comes about?
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