LEARN OUR ULTRA SHORT TERM TECHNIQUES & MINT HUGE MONEY

கமாடிட்டி மார்க்கெட் மட்டுமல்லாது ஈக்விட்டி மார்க்கெட்டிலும் ஒன்று 

அல்லது இரண்டு வாரம் வரை இருக்கும் பணத்தில் பொசிஷன் எடுத்து 

வைத்து நான்கு முதல் எட்டு சதவிகிதம் வரை லாபம் பார்க்கும் சக்திமிகு 

தொழில்நுட்பம் அறிந்து சந்தையில் வெற்றி நடை போடுங்கள்!

டிசம்பர் 01 முதல் புதிய கட்டணத்திற்கு எமது M I D டெக்னிக்குகள் 

உட்படுவதால் விரைந்து பதிவு செய்து உடனடிப் பலனைப் பெற்று மகிழுங்கள்!

வெகு தொலைவில் இருக்கும் நண்பர்கள் எமது E-PACKAGE களைப் பெற 

அலைபேசியோ அல்லது எமது வலைப்பூவில் பதிவு செய்தோ அதே 

கட்டணத்தில் தொழில்நுட்பங்களைப் பெற்றுக்கொள்ளலாம்!

ஐயங்கள் இருப்பின் வார இறுதிகளில் அவை ஆன்லைன் 

மூலம் தீர்த்து வைக்கப்படும்! 

மேலும் விபரங்களுக்கு அழைக்கவும் 9788563656

E-PACKAGES ALSO AVAILABLE (FOR BOTH EQUITY & 

 COMMODITY)

HAVE A GREAT WEEK END

BULKOWSKI’s TRADERS QUALITIES

Not everyone can be a successful trader, one that makes a living by trading the markets. Based on research, Bill identified three factors that are key to trading success. Before I describe what they are, let's take a quiz by answering yes or no to the following questions.

Do you worry a lot?

Do you remain calm and relaxed in tense situations?

Are you a trusting individual?

Do you drive at or below the speed limit most of the time?

Are you a perfectionist?

Do you work on a project from start to end before beginning another one?

Do you like to complete projects?

Did you score well on your SATs, that is, do you possess above average intelligence?

Do you like math or are a good problem solver?

When driving and the stop light turns green, do you accelerate faster than the car next to you?

Score one point for each "Yes" answer except on the first (#1) and last (#10) questions. 

Those should be "No." Add up your score. The higher the score the more likely it will be that you can become a successful trader.

NIFTY FUTURES UPDATES & MARKET FUNDAMENTALS TODAY (NOV 21)

Even yesterday Nifty Futures, after having traded below our mentioned level of 8405 for 30 minutes as predicted before market hours.. it hits our second target of 8380 and even slided beyond that and managed to have a close @ 8423 

Today, in normal opening if trades above  

8420 for 30 minutes 

see a hike upto 8440

To gain more strength it has to trade above 

8434 for 30 more minutes 

to reach 8453-63

Suppose if  cuts and trades below 8418 for 30 minutes,

a slide upto 8395-85 is very much possible

INTRADAY RESISTANCES @   8443 – 54 – 64

INTRADAY SUPPORTS   @   8395 – 85

A volatile session is expected today.

Trade very carefully with the above mentioned time and levels

An important note

A MILLION DOLLAR QUESTION STILL PENDING

‘WHEN WOULD NIFTY FUTURES GOING TO FILL

ALL FOUR GAPS FORMED BELOW THE CURRENT LEVEL???

One @ 8185, second @ 8040, third @ 7947 and the other @ 7814

Pls be very very careful at these levels 

while you initiate a trade in Nifty

Just follow our mentioned levels with mentioned time!

Just remember….. We have been continuously warning 

about these GAPS every day

ALL THE BEST

 (By the time this post was updated S&P CNX Nifty Futures was trading @ 8417 )

இன்றைய சந்தை அடிப்படை (NOV 21)

இந்திய நேரப்படி இன்று  பிற்பகல் 1:30 மணிக்கு

யூரோவை நேரடி பாதிப்புக்குள்ளாக்கும்படி வெளியாகும் ECB அதிபர் திராஹி அவர்களின் உரை;

மாலை ஐந்து மணிக்கு, டாலருக்கு எதிரான இந்திய ரூபாயை பாதிக்கவல்ல அமெரிக்க டாலர் கையிருப்பு;

மாலை ஏழு மணிக்கு கனடிய டாலரை நேரடியாக பாதிக்கவல்ல மாதாந்திர மற்றும் வருடாந்திர Core CPI, CPI

போன்ற தகவல்கள் இன்று  சந்தையில் முக்கியத்துவம் வாய்ந்தவைகளாகப் பார்க்கப்படுகின்றன!

இன்று தங்கம், வெள்ளி, கச்சா எண்ணெய், இயற்கை எரிவாயு, நிக்கல், மற்றும் காப்பர் அதில் கவனமாக இருக்க வேண்டிய நேரம்..

1:25 – 2:00 PM;  5:00 – 5:30 PM;  6:55 – 7:30 PM

நேரமறிந்து, வர்த்தகம் புரிந்து வெல்க!

DISCLAIMER 

THE RECOMMENDATIONS MADE HERE DO NOT CONSTITUTE AND OFFER TO SELL OF A SOLICITATION TO BUY ANY OF THE SECURITIES/COMMODITIES OF ANY OTHER INSTRUMENTS WHATSOEVER MENTIONED. NO REPRESENTATIONS CAN BE MADE THAT THE RECOMMENDATIONS CONTAINED WILL BE PROFITABLE OF THAT THEY WILL NOT RESULT IN LOSSES. READERS USING THE INFORMATION CONTAINED HEREIN ARE SOLELY RESPONSIBLE FOR THEIR ACTIONS. SURFING OR USING ‘tradersharmony.blogspot.com' DEEMS THAT THE SURFER ACCEPTS AND ACKNOWLEDGES THE DISCLAIMERS AND DISCLOSURES.THE INFORMATION PUBLISHED ARE FOR EDUCATIONAL AND INFORMATIVE PURPOSE ONLY AND THE USER/READERS SHOULD TAKE ADVICE OF HIS/HER ADVISER BEFORE TAKING ANY DECISION FOR BUYING, SELLING OR OTHERWISE DEALING WITH SECURITIES/COMMODITIES OR ANY OTHER INSTRUMENT WHATSOEVER.

HAVE A TERRIFIC THURSDAY

STRESS TESTING

The crisis is likely to make traders take riskier decisions to avoid losing money

IT has long been known in financial markets that people are so reluctant to lose money that they will take big risks to avoid it. If you give the average person a 90% chance of winning a little money or a 10% chance of winning a lot, he will most likely take the option that offers him at least a little bit of cash. But offer him a 90% chance of losing a little money or a 10% chance of losing a lot, and he will opt for the latter. A recent study finds that stress exacerbates this.

Anthony Porcelli and Mauricio Delgado, psychologists at Rutgers University in New Jersey, set out to analyse the sorts of financial risks people were willing to take when calm or stressed. They knew finance could be stressful at the best of times. Stockbrokers, for instance, make important financial decisions in split seconds in conditions that are sometimes noisy, hot and socially tense, they noted in Psychological Science, a journal. Does this affect their judgment?

The experiment involved students playing a gambling game. To stimulate stress, for part of the game half had their main hand in very cold water. The students faced financial decisions that varied in both the degree of risk and the amount of money that could be won or lost. They could choose between, say, an 80% chance of losing 75 cents and a 20% chance of losing $3 or an 80% chance of winning 75 cents and a 20% chance of winning $3. They could keep anything they won.

The psychologists found that exposure to stress led participants to choose riskier decisions when trying to decide between taking a minor loss or a major one. The reverse proved true with gains.

One potential explanation for the effect might be that the human brain has two ways of looking at the world, an analytical one and an intuitive one. The analytical one is more easily disrupted by outside stimuli, such as stress. The intuitive one cuts to the bottom line when times are tough.

Professional traders with years of experience should still make reasonable decisions when forced to respond to situations under stress since their intuitions are well honed. Thus, increasing stress should not disrupt their activities much as long as circumstances are not so unusual that they disturb their intuition.

What is worrying is that today's traders are in truly uncharted (and very cold) waters, and under such conditions, experience is little help; split-second decisions have to be taken that have never been encountered before. As a result, traders could be vulnerable to the phenomena seen in the study, says Valerie Reyna, co-director of the Centre for Behavioral Economics and Decision Research at Cornell University in New York. Ideally, one way for governments to improve the situation would be to give people a better sense of what is going wrong and how to fix it, explains Ms Reyna. Unfortunately, governments seem to be almost as disoriented as everyone else at the moment. So the traders are likely to take bigger risks to avoid loss, just like the students.

NIFTY FUTURES UPDATES & TODAY'S FUNDAMENTALS (NOV 20)

Even yesterday Nifty Futures, after having traded below our mentioned level of 8445 for 30 minutes, 

as predicted before market hours.. it hits our second target of 8400 and even slided beyond that upto 8383 and managed to close @

What else you want guys ?

Today, in normal opening if opened & trades above  

8408 for 30 minutes see a hike upto

8425-33

Suppose if trades below 8405 for 30 minutes,

a slide upto 8390-80 is very much possible

INTRADAY RESISTANCES @   8434 – 41

INTRADAY SUPPORTS       @   8390 – 80

Trade very carefully with the above mentioned time and levels

An important note

A MILLION DOLLAR QUESTION STILL PENDING

‘WHEN WOULD NIFTY FUTURES GOING TO FILL

ALL FOUR GAPS FORMED BELOW THE CURRENT LEVEL???

One @ 8185, second @ 8040, third @ 7947 and the other @ 7814

Pls be very very careful at these levels while you 

initiate a trade in Nifty

Just follow our mentioned levels with mentioned time!

Just remember….. We have been continuously warning about these GAPS every day

ALL THE BEST

 (By the time this post was updated S&P CNX Nifty Futures was trading @ 8414 )

இன்றைய சந்தை அடிப்படை (NOV 20)

இந்திய நேரப்படி இன்று  சந்தை திறப்பிற்கு முன் 

காலை 7:15 மணிக்கு

சீன நாணய நகர்வில் நேரடி பாதிப்புக்களை 

கொணரும்படி வெளியாகும் 

நவம்பர் மாதத்து HSBC Manufacturing PMI, 

இந்திய சந்தையின் ஆரம்பகட்ட நகர்வில் குறிப்பிடத்தக்க 

பாதிப்பை ஏற்படுத்தும் எனத் தெரிகிறது!

பிற்பகல் 2:00 மணிக்கு வெளிவரும் 

(டாலருக்கு எதிரான யூரோவை பாதிக்கவல்ல) நவம்பர் மாதத்து 

German Manufacturing PMI;

தொடர்ந்து 3:00 மணிக்கு GBP நாணயத்தை பாதிக்கும்படி 

வெளியாகும் மாதாந்திர மற்றும் வருடாந்திர Retail Sales;

மாலை ஏழு மணிக்கு டாலர் குறியீட்டை நேரடியாக 

பாதிக்கவல்ல மாதாந்திர மற்றும் வருடாந்திர 

Core CPI, Initial Jobless claims

மற்றும்

இரவு 8:30 மணிக்கு வெளிவரும் 

Existing Home Sales, 

Philadelphia Fed Manufacturing Index  

போன்ற பல செய்திகள் இன்று  

சந்தையில் முக்கியத்துவம் வாய்ந்தவைகளாகப் பார்க்கப்படுகின்றன!

இன்று தங்கம், வெள்ளி, கச்சா எண்ணெய், 

இயற்கை எரிவாயு, நிக்கல், மற்றும் காப்பர் அதில் கவனமாக இருக்க வேண்டிய நேரம்..

10:00 – 10:30; 1:55 – 2:30 PM;  

2:55 – 3:30 PM; 6:50 – 7:30 PM & 8:25 – 9:00 PM

வெல்க தோழமைகளே!

DISCLAIMER 

THE RECOMMENDATIONS MADE HERE DO NOT CONSTITUTE AND OFFER TO SELL OF A SOLICITATION TO BUY ANY OF THE SECURITIES/COMMODITIES OF ANY OTHER INSTRUMENTS WHATSOEVER MENTIONED. NO REPRESENTATIONS CAN BE MADE THAT THE RECOMMENDATIONS CONTAINED WILL BE PROFITABLE OF THAT THEY WILL NOT RESULT IN LOSSES. READERS USING THE INFORMATION CONTAINED HEREIN ARE SOLELY RESPONSIBLE FOR THEIR ACTIONS. SURFING OR USING ‘tradersharmony.blogspot.com' DEEMS THAT THE SURFER ACCEPTS AND ACKNOWLEDGES THE DISCLAIMERS AND DISCLOSURES.THE INFORMATION PUBLISHED ARE FOR EDUCATIONAL AND INFORMATIVE PURPOSE ONLY AND THE USER/READERS SHOULD TAKE ADVICE OF HIS/HER ADVISER BEFORE TAKING ANY DECISION FOR BUYING, SELLING OR OTHERWISE DEALING WITH SECURITIES/COMMODITIES OR ANY OTHER INSTRUMENT WHATSOEVER.

WISH YOU A TREMENDOUS WEDNESDAY

COMMON MISTAKES TRADERS MAKE AND HOW TO AVOID THEM

It is the age of the screen based trader, IF you realize where your edge lies. Let’s cover some common mistakes almost all screen based traders have made at one time or another during the learning curve.

Time Frames

The smaller the time frame you trade the less likely you are to succeed. Daytrading is more difficult than position or swing trading. Everyone wants to “day trade.” That’s fine, I day trade, most of my clients day trade. BUT, I am always willing and encourage my clients to be willing to take that day trade into the next time frame if the opportunity presents itself. The big money and the “easiest” money is made outside the intraday timeframe. To be consistently successful over the long term you have to at least occasionally have the big winning trade.

Let’s talk about intraday trading and intraday timeframes for a minute. One thing that almost all intraday traders can do to increase their probability of success is to use a chart duration of nothing less than 5-minutes. 30-minutes is even better. You do not decrease risk by trading from tick charts or one minute bar charts. You are actually dramatically increasing your risk because you end up trading nothing but noise – the normal gyrations and probing up and down that is a characteristic of an Auction Market. Anyone that thinks they can devine special meaning from every change in the bid/ask in the ES (or any market) all day is delusional. There is no edge there!

Go with the probabilities. Don’t try the “savant” stuff.

Time is the screen based traders best friend. Don’t make the mistake so many screen based traders make and turn it into an enemy.

Expectancy

A simple way to express is that expectancy is that it is probability over the long-term of having positive results. There are two parts to expectancy. The probability of the trade working. The relationship of the potential gain if the trade works to the loss if it doesn’t work.

You can have a positive expectancy by having a large percentage of winning trades. You can have a positive expectancy by having fewer winners but larger winning trades.

The focus of most traders is to try and have a high percentage of winning trades. This is actually quite easily achieved and is the prevalent method you will see in trading chat rooms. It also almost always yields net negative results. It “feels good” to have winning trades. Here is a guaranteed way you can right now have a bunch of winning trades.

Or, you can do a little homework the night before, pick out several markets that look promising with potential reward a multiple of the risk that must be assumed for the opportunity, wait for those trades to set up and take them. If you take three or four trades often you will only need one to work to make a net profit. Sometimes none of them work; sometimes all of them work. Overall this style of trading has a huge built in margin of error because its essence is to let profits run and cut losses short with the added advantage of a method that consistently identifies the opportunities that are most like to offer the high reward/low risk situation. This isn’t a fairy tale. I have a lot of clients that do this every day.

NIFTY FUTURES UPDATES (NOV 19)

Yesterday Nifty Futures, after having traded below 8450 for 30 minutes declared a sideways movement, but managed to reach our target of 8463 and closed again at the record high of 8454

Today, suppose if opened below 8450 and unable to touch 8460,

see a slide upto 8440

And below the level of 8445 for 30 minutes 

see more slide upto 8412-02

In normal opening if trades above 8453 for 30 minutes,

a hike upto 8475 is possible

INTRADAY RESISTANCES @  8476

INTRADAY SUPPORTS    @    8445 – 8412 – 8400

Trade very carefully with the above mentioned time and levels

An important note

A MILLION DOLLAR QUESTION STILL PENDING

‘WHEN WOULD NIFTY FUTURES GOING TO FILL

ALL FOUR GAPS FORMED BELOW 

THE CURRENT LEVEL???

One @ 8185, second @ 8040, third @ 7947 and the other @ 7814

Pls be very very careful at these levels while you initiate 

a trade in Nifty

Just follow our mentioned levels with mentioned time!

Just remember….. We have been continuously warning about these GAPS every day

ALL THE BEST

 (By the time this post was updated S&P CNX Nifty Futures 

was trading @ 8466 )

இன்றைய சந்தை அடிப்படை (NOV 19)

இந்திய நேரப்படி இன்று  பிற்பகல் 1:00 மணிக்கு வெளிவரும் (டாலருக்கு எதிரான ஜப்பானிய நாணயத்தை பாதிக்கவல்ல) BoJ Press Conference; தொடர்ந்து 3:00 மணிக்கு GBP நாணயத்தை பாதிக்கும்படி வெளியாகும் MPC Meeting Minutes ஆகிய  செய்திகள் சந்தையில் முக்கியத்துவம் வாய்ந்தவைகளாகப் பார்க்கப்படுகின்றன!

அதோடு மாலை ஏழு மணிக்கு அமெரிக்க டாலர் குறியீட்டை நேரடியாக பாதிக்கவல்ல மாதந்திர, October மாதத்து Building Permits மற்றும் Housing starts

தகவல்களும் வெளிவர உள்ளதால்

இன்று தங்கம், வெள்ளி, கச்சா எண்ணெய், இயற்கை எரிவாயு, நிக்கல், மற்றும் காப்பர் அதில் கவனமாக இருக்க வேண்டிய நேரம்..

12:55 – 1:30 PM;  2:55 – 3:30 PM; 6:50 – 7:30 PM

நேரமறிந்து, வர்த்தகம் புரிந்து வெல்க!

DISCLAIMER 

THE RECOMMENDATIONS MADE HERE DO NOT CONSTITUTE AND OFFER TO SELL OF SOLICITATION TO BUY ANY OF THE SECURITIES/COMMODITIES OF ANY OTHER INSTRUMENTS WHATSOEVER MENTIONED. NO REPRESENTATIONS CAN BE MADE THAT THE RECOMMENDATIONS CONTAINED WILL BE PROFITABLE OF THAT THEY WILL NOT RESULT IN LOSSES. READERS USING THE INFORMATION CONTAINED HEREIN ARE SOLELY RESPONSIBLE FOR THEIR ACTIONS. SURFING OR USING ‘tradersharmony.blogspot.in' DEEMS THAT THE SURFER ACCEPTS AND ACKNOWLEDGES THE DISCLAIMERS AND DISCLOSURES.THE INFORMATION PUBLISHED ARE FOR EDUCATIONAL AND INFORMATIVE PURPOSE ONLY AND THE USER/READERS SHOULD TAKE ADVICE OF HIS/HER ADVISER BEFORE TAKING ANY DECISION FOR BUYING, SELLING OR OTHERWISE DEALING WITH SECURITIES/COMMODITIES OR ANY OTHER INSTRUMENT WHATSOEVER.

UNIQUE FEATURES OF M I D TECHNIQUES

அன்பு நெஞ்சங்களே!

இன்றளவில் சந்தையில் தொழில்நுட்ப ஆய்வு வகுப்புகள் புற்றீசல் போல் பெருகி விட்டாலும் வருடக்கணக்காக எமது தொழில்நுட்பம் வெல்லும் ரகசியம்...

M I D தொழில்நுட்பம் உள்ளடக்கிய சில பிரத்தியேக அம்சங்களால் மட்டுமே! 

அவை.....

1) தின வர்த்தகத்தில் நல்ல லாபம் பார்க்க எப்போதும் சந்தை மேலும் கீழுமான நகர்வுகளைக் கொண்டிருக்க வேண்டும்; ஆனால் தினமும் அவ்வாறு நடக்கிறதா என்றால் இல்லை; 

சில நாட்கள் சந்தை மேலும் செல்லாமல் கீழும் செல்லாமல் பக்கவாட்டிலேயே நகர்ந்து இருபுறமும் (LONG & SHORT) செல்ல விடாமல், அப்படியே சென்றாலும் வர்த்தகருக்கு இருபுறமும் நட்டத்தையே தந்து கொண்டிருக்கும்! 

இதை முன்னமே கண்டறியும் யுக்தி இருந்தால் அந்த நாளில் அந்த பொருளில் வர்த்தகம் செய்யாமல் நட்டத்தை தவிர்க்கலாம் இல்லையா..? 

M I D தொழில்நுட்பம் ஒன்றே அத்தகைய யுக்தியைத் தருகிறது!

2) அதே போல் சந்தையில் எல்லா நேரமும் வர்த்தகத்திற்கு உகந்த நேரம் அல்ல - சரியான விலையில் சரியான நேரத்தில் நுழைவதொன்றே லாபத்திற்கான வழி!

அப்படி எந்த நேரத்தில் நுழைந்தால் லாபம் சாத்தியம் என்பதும் எமது தொழில் நுட்பம் உள்ளடக்கிய இரண்டாவது சிறப்பம்சம்!

3) M I D தொழில்நுட்பத்தின் மூன்றாவது சிறப்பம்சமாக.. 

ஒரு பொருளை வாங்கி விட்டீர்கள்.. இப்போது சந்தையோ அல்லது நீங்கள் வாங்கிய பொருளின் விலையோ உங்களுக்கு எதிரான திசையில் செல்கிறது என்றால் உடனே உங்களை ஒரு பதற்றம் தொற்றிக் கொள்கிறது அல்லவா..?

'அச்சோ ஒரு ரூபா இறங்கிட்டானே..! ஐயாயிரம் போச்சே.. ரெண்டு ரூபா இறங்கிட்டானே பத்தாயிரம் போச்சே..! ' என்று ரத்த அழுத்தம் எழும்பி மன உளைச்சலையும், 'வெளியேறிவிடுவோமா..? வெளியேறிய பின் ஏறினால் என்ன செய்வது.. ஒருவேளை ஏறாமலே போய் விட்டால் அல்லது இன்னும் இறங்கி விட்டால்.. என் நிலை என்னாவது..?' என்றெல்லாம் கேள்விகளையும், குழப்பங்களையும் தருகிறது அல்லவா..? 

ஆனால் இத்தொழில்நுட்பத்தின் மூலம் அத்தகைய உணர்ச்சிகளைக் கட்டுப்படுத்தும் வகையில், ஒரு பொருளை வாங்கிய பின், அது எதிர்த்திசையில் சென்றாலும் எத்தனை நேரம் பயமில்லாமல், குழப்பமில்லாமல் காத்திருக்கலாம் அல்லது வெளியேறும் நேரத்தை எப்படி அறியலாம் அல்லது சுத்தமாக எதிர்த்திசையில் சென்று விட்டால் எப்படி எங்கு துணிந்து REVERSE TRADE செய்து அன்றே அந்த நட்டத்தைச் சரி செய்யலாம்?' என்பதையெல்லாம் துல்லியமாகக் கண்டறியலாம்!

இம்மூன்று சிறப்பம்சங்களும் நாம் அறிந்த வரையில் இதுவரையில் வேறெந்த தொழில்நுட்பமும் கொண்டிருக்கவில்லை என்பதைத் தாழ்மையோடு தெரிவிக்கக் கடமைப் பட்டிருக்கிறோம்!

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HAVE A TASTY TUESDAY

Rule 1: Follow Your Written Trading Plan.

If you didn’t guess that this was the first rule then you haven’t been reading my blog long enough. This is the #1 reason why traders fail. It is human nature to want to vary or break rules and it takes discipline to continue to act in accordance with the established rules.

Write out a plan, even if it’s simple at first, and follow it religiously.

Rule 2: Keep Learning On A Daily Basis.

The markets are changing every single day and the strategies that you may have used 5 years ago might not work now. You need to continue to educate yourself on a daily basis.

Read an article or watch a video tutorial, and overtime you will build a huge knowledge base that is fundamental to successful trading.

Rule 3: Don’t Let Losses Compound.

Per your trading plan you should already know when and where you will cut your losses. Whether it’s a technical failure or percentage move doesn’t matter as long as you have something in place to mitigate risk.

Some traders have an even lower tolerance for loss than you might have which is fine. The key point here is to have set points (stop loss) within the limits of your tolerance for loss.

Rule 4: Never Set A Price Target.

Hear me out on this. Don’t set a price target and automatically get out of good trades. If you are long a Call and the stock hits your “target” don’t just automatically exit! Let profits run wild. Place a trailing stop loss order and see how high it can go from there after locking in gains.

Realistically, I can never pick tops and neither can you so why exit? Never feel a stock has risen too high too quickly (or fallen too low too quickly either).

Rule 5: Master One Strategy at a Time.

Never jump from one trading style to another. Master one style and strategy first rather than becoming average at several. Focus and work hard to completely understand every angle, abnormality, risk, reward of say Credit Spreads and then move on to Iron Condors.

Don’t be a jack of all trades when it comes to options trading until you have experience.

Rule 6: Listen To The Charts (My Favorite).

In case you didn’t already know, you cannot affect the market. Sorry, but you just can’t. Praying, pleading, and even giving up your 1st born son won’t even help. So stop hoping and wishing already!

Everything is reflected in the price and volume when it comes to technical analysis – this is why I favor it over any other system. Master the charts and let them guide you.

Rule 7: Don’t Make Excuses, I Have No Pity!

We live in a period of time where there is limitless opportunity to build massive wealth. The wealth of information and training online today about trading is incredible – and for the most part free.

I don’t pity anyone who gives me an excuse as to why they are not successful! Work hard now and the reward will be great at the end of the day.

Rule 8: Stop the “Analysis Paralysis”

Start trading more often and stop analyzing the markets to death. Now of course don’t take this over board and become a day trader right. The point here is that you set up a system and continue to make trades – even if they are small trades (1 or 2 contracts at a time).

Most people just analyze and analyze but never get in! How are you ever going to learn? Start small but keep trading. If you learn to master trading with only a few shares, then trading a couple hundred or thousand shares will be much more successful.

Rule 9: Walk Away From the Computer.

My own personal morning routine includes this element and it’s essential for clearing your mind. Successful trading isn’t solely about trading – it’s also about being emotionally and physically strong.

Reduce the stress every day by taking time off the computer and working on other areas of your life – especially family. A stressed out trader will not make it in the long run.

Rule 10: Be an Above-Average Trader.

We all trade for 2 simple reasons: Money and Freedom. In order to succeed in any market you need to set your expectations high. Don’t settle for mediocrity.

Stay motivated and set realistic and achievable goals that continue to take you to the next level. And finally, ask for help from others, get a coach, or join a trading forum to keep you accountable.