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2016 Trader Contest goals

Hello Traders,
It has been a while since i have entered this space, due to some career choices my time for studying forex and trading was limited. But hopefully this year i will be able to allocate more time and start trading again.
For this year my goals are to finish the Trader Contest in the top10 for at least 3 months . This will be a milestone that will enhance my progress for trading for a living someday.
Have a blessed and peacefull year and may all your wishes come true.
Happy New Year
E.
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Learning to trade the edge like a casino -part 5

Doing the Exercise. When you have a set of variables that conforms to the specifications described, you know exactly what each trade is going to cost to find out if it's going to work, you have a plan for taking profits, and you know what you can expect as a win-loss ratio for your sample size, then you are ready to begin the exercise. The rules are simple: Trade your system exactly as you have designed it.
This means you have to commit yourself to trading at least the next 20 occurrences of you
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ANABEVZ 2014年08月18日

Good post!

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Learning to trade the edge like a casino -part 4

Trading in Sample Sizes. The typical trader practically lives or dies (emotionally) on the results of the most recent trade. If it was a winner, he'll gladly go to the next trade; if it wasn't, he'll start questioning the viability of his edge. To find out what variables work, how well they work, and what doesn't work, we need a systematic approach, one that doesn't take any random variables into consideration. This means that we have to expand our definition of success or failure from the limit
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Learning to trade the edge like a casino -part 3

If you're going to establish a belief in yourself that you're a consistent winner, then you will have to create experiences that correspond with that belief. Because the object of the belief is winning consistently, how you take profits in a winning trade is of paramount importance. This is the only part of the exercise in which you will have some degree of discretion about what you do. The underlying premise is that, in a winning trade, you never know how far the market is going to go in your d
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Learning to trade the edge like a casino -part 2

Trade Entry. The variables you use to define your edge have to be absolutely precise. The system has to be designed so that it does not require you to make any subjective decisions or judgments about whether your edge is present. If the market is aligned in a way that conforms with the rigid variables of your system, then you have a trade; if not, then you don't have a trade. Period! No other extraneous or random factors can enter into the equation.
Stop-Loss Exit. The same conditions apply to g
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Learning to trade the edge like a casino -part 1

The object of this exercise is to convince yourself that trading is just a simple game of probabilities (numbers), not much different from pulling the handle of a slot machine. At the micro level, the outcomes to individual edges are independent occurrences and random in relationship to one another. At the macro level, the outcomes over a series of trades will produce consistent results. From a probabilities perspective, this means that instead of being the person playing the slot machine, as a
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ANABEVZ 2014年08月12日

Interesting and instructive!

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Creating a belief in consistency- final part

The five truths will also create a state of mind in which you will genuinely accept the risks of trading. When you genuinely accept the risks, you will be at peace with any outcome. When you're at peace with any outcome, you will experience a carefree, objective state of mind, where you make yourself available to perceive and act upon whatever the market is offering you (from its perspective) at anygiven "now moment." The first objective is to integrate as a dominant belief, "I objectively ident
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Creating a belief in consistency- part 1

Creating a belief that "I am a consistent winner" is the primary objective, but like my intention to become a runner, it's too broad and abstract to implement without breaking it down into a step-by-step process. So what I'm going to do is break this belief down into its smallest definable parts and then give you a plan to integrate each part as a dominant belief. The following sub-beliefs are the building Thinking Like a Trader 185 blocks that provide the underlying structure for what it means
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ANABEVZ 2014年08月12日

Good moral values!)

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Monitoring ourselves

Obviously, if our beliefs are not consistent with what works from the environments perspective, the potential for making a mistake is high, if not inevitable. We won't be able to perceive the appropriate set of steps to our objective. Worse, we won't be able to perceive that what we want may not be available, or available in the quantity we desire or at the time when we want it.
On the other hand, mistakes that are the result of beliefs that are in conflict with our objectives aren't always appa
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VictoriaVika 2014年07月20日

Well done

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Observe yourself -Making mistakes

The first step in the process of creating consistency is to start noticing what you're thinking, saying, and doing. Why? Because everything we think, say, or do as a trader contributes to and, therefore, reinforces some belief in our mental system. Because the process of becoming consistent is psychological in nature, it shouldn't come as a surprise that you'll have to start paying attention to your various psychological processes. The idea is eventually to learn to become an objective observer
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