Are you a FIT trader?
If you want to survive as a trader, you’ve got to do many things right, consistently right. The weak-minded and those with an inability to stay dedicated, disciplined, consistent and motivated, simply do not make it. They lose. You don’t want to be them. Snipers has created their trade plan. They are suppose to stay dedicated, disciplined, consistent and motivated, and stick to their trade plan. I would like to share with you what happen during yesterday evening in Sniper Clu
Master that ONE strategy
Do you have too many strategies on hand? Have you ever focus on ONE to become a Master of It? To get good at anything, you must focus on that and only that. Whether it’s learning to paint, playing a sport or ANYTHING – you will never get good at it by having scattered and broken focus. Similarly, focusing on one thing helps you get good at it faster, obvious, right? But most traders overlook this fact in their quest for fast-money. Focus on ONE setup will help you to make mon
Following your trade plan
The topic on "commission" pop up again during lunch. Many TMI has converted back to retail due to the recent membership fee increase. Of course we feel the "pain". Once you let go of TMI, your commission will revert back to retail rate. For SiMSCI, it is now S$10.70 (include GST). Die hard fan of SiMSCI? No problem. I believe Tom has lots of strategies to let you 'ride the trend' so that your trades are not affected by commission. [RDV is coming, do drop by and listen to his
Are you a Specialist?
The people who make money in trading or any other profession all have one thing in common: They are specialists. They specialize in one narrow field or focus, and they own it as much as they possibly can. That specialization results in higher pay / more money because most people have not focused on that one thing as much, so they do not know how to do it well, they aren’t as good at it. Same thing in trading; most traders lose money because most people don’t’ have the discipl
Have a plan & Trade your plan
Sniper Club is having a new "game" again. This time, they have to submit their trading plans and can only execute their trades base on the plan submitted. If you have been following my blog posting, you know that I emphasize a lot on position sizing. So in this game, I have set the position sizing to: minimum 2 & maximum 3 (in real trades, they can enter as per their normal position size, but, for the game purpose, it will all be downsize to 2 & 3 lots). We are now 3 weeks in