Monday Motivation: Rise & Shine
Trading is hard, don't let anyone tell you otherwise.
To succeed at trading, you will require discipline, preparation, hard work and good mindset.
Take away any of this components and you will fail.
If you ask any succesful trader at what time their day begins, they will tell you that early in the morning, some of them even before 5:00 a.m.
Trading is like a sport and just like in any sport, you must prepare yourself before the game begins.
Wake up early, way before the market opens, to prepare yourself for the trading day.
Wake up early, because you will need to check general market conditions:
- How are futures doing today?
- Is there any major news that could affect the market today?
- Which stocks are up/down premarket?
- Which stocks have news?
- How is your watchlist doing?
- Exercise. Go running, lift weights, do some jumping jacks, have sex; Do whatever you like, but get that blood flowing, awake the body.
- Meditate. Because a clear mind will always perform better; Remove any anxiety, worry or urgency before you start trading.
- Plan. Lay a trading plan for those stocks that catched your attention. Look for support & resistance, look for optimal entry points and determine where you should exit, for both a win and a loss.
- You are prepared.
- You know what you are doing.
- You will succeed.
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