I accomplished two things this week; I managed to stop overtrading (if Tim trades like a sniper, I trade with a machine gun) and I rewatched "Spikeability" and "How to make millions". I also watched the first few episodes of Roland's dvd, and watched a number of lessons (really like Mason's video. Thanks!).
These are a few of my conclusions for the week. While most or all of these lessons are basic and they are things everyone is taught on day one, I find it is very different to be taught these things versus internalizing them and truly understanding the need for them. Obviously there was a lot more I covered, but at this point I feel these are the bits that have the potential to make the biggest difference;
1.- There is a strong correlation between the hours I spend watching dvds/studying and how centered and focused I feel during my trading. There is a lot of value in rewatching material.
2.- Need to pay a lot more attention to the big picture (daily candle charts), that's where plans need to originate. Do not get lost in the daily noise (1min candle charts).
3.- Be truly prepared every morning by doing your research the night before: check daily price action, run scans, research what caused moves... Simply checking out what is gapping up in the morning a few minutes before 9:30 and deciding how to trade those at the market open is not enough.
4.- Focus on developing proper habits and on developing a replicable, refinable process. In the beginning it really is about performance and not results. You need to be professional.
5.- Do not force trades or look to trade. Only the best plays will have a real positive impact on your account. The rest will likely just hurt it. No need to trade every day, and when you do trade, have the big picture in mind, do not get too caught up in any particular trade.
I am sure I will think of more bits as I digest the dvds and lessons, review notes... but like I said, I think these truly have the potential to make a difference for me so i want to put them in writing in order to help ingrain them in my brain.