March 27, 2015

The Eight Rules of Carney

1. Never get into something you can't get out of by the closing bell. Every trade you make, you're looking for the exit point. Always keep your eye on the exit point

2. Don't ever take anything at face value. Because face value is the biggest lie of any market. Nothing is ever prices at its true worth. The key is to figure out the real, intrinsic value - and get it for much, much less.

3. One minute, you have your feet on the ground and you're moving forward. The next minute, the ground is gone and you're falling. The key is to never land. Keep it in the air as long as you fucking can.

4. You walk into a room with a grenade, and your best-case scenario is walking back out of the room still holding that grenade. Your worst-case scenario is that the grenade explodes, blowing you into bloody little pieces. The moral of the story: don't make bets with no upside.

5. Don't over think. If it looks like a duck and quacks like a duck - it's a duck.

6. Fear is the greatest motivator. Motivation is what it takes to find a profit.

7. The ends justify the means, but there is only one end that really matters. Ending up on a beach with a bottle of champagne.

March 18, 2015

Just a thought

A mentor of mine had me start doing this years ago, thought maybe I'd share. Personally, I chose Trading In The Zone & Its not what you think, Its how you think.

My morning routine is the most important as it starts my day off on the right foot. I read a chapter out of each book to reinforce the idea, that, trading is a game of odds and probabilities. Edge and risk management. One trader after another. They are all the same. Some work out and some don't.

I also read out loud my personal affirmations and goals that I have set. Focus. Focus. Focus.

Just Fucking Do It.

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Get Your Mind Right.