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These are two universal keys. They will open the door to success for you in more than one endeavor. Not just in emini trading, but in practically any other field you choose to seek success in.?However, when talking about them I use examples that refer to trading emini futures if only so as not to sound overly abstract.
The first one can be called "actions versus activities." Let me tackle it right away. The other will be mentioned in part two of this sequel.?
The point is that very often we engage in what can be called "activities" rather than "actions" and while there is nothing wrong about doing so per se, there actually might be. Namely, it is wrong to confuse the two, and I suspect that this happens more often than we realize it. Activities are not actions, activities are easier, they come naturally, we just tend to gravitate towards them and may even be spending a lot of time on them, often fooling themselves that these are actions or at least that they are as important as actions. We may think that we are getting somewhere indulging in them, but that's hardly ever so.
Want a simple example? Writing this article was an action, merely thinking about writing it was pretty much an activity. The latter came very naturally, with no effort whatsoever. Another example? Here we go, and it's quite related to the trading business too. A lot of wannabe traders spend an inordinate amount of time on various online trading forums, instead of practicing the craft of trading. They may think that the former is as important as the latter, but it is not. Too often we think that perusing forums is like doing a homework. It's not, unless you are a total beginner, but even then I would very much discourage you from staying on a forum for too long. I quit using trading forums years ago after wasting a full year and then some on one of them and logging over 1000 posts within a year or so and I am still baffled that it took me so long to realize that I was wasting so much of my time on so little.?
About two years long ago, I released what has since become a very popular emini day trading course. It is called KING. There is one thing in the KING manual that I like to stress. I refer to it as "the greatest threat to one's trading career" and I do not think by calling it this way I am blowing things out of proportion. The reason I mention it here is because this threat has a lot to do with "actions versus activities." Not knowing of it, not realizing it may cost you a lot of time for the simple reason that you will end up engaging in activities rather than actions. Knowing this threat and taking it seriously is bound to prevent it.
Now, that does not mean yet that you should totally abstain from anything that resembles any activity. Not at all, that would hardly be a good idea. There is room for activities in our life too, just make sure you do realize when you are engaging in one and don't delude yourself that this is a part of something you should be doing to get you closer to your goal because very often it is not the case and knowing it is important if you want to stay focused on actions. Differentiating between these two things ("activities" versus "actions") is absolutely vital to maintaining self-discipline necessary to succeed in practically any field.
Activities are fine and avoiding them can be even counter-productive, but it's probably better to indulge in those that are not too closely related to the actions we need to take to reach our goals or else we may end up being fed up with what we aiming at. To be more concrete, let me offer you an example. If you aim at becoming a good trader, then focus on practicing your trading craft first and foremost and that's what your "action" should be while at the same time you may want to abstain from spending too much time (or spending it at all) on trading forums, instead choosing your activities from among those that are more likely to add some balance to your life such as reading an interesting book, watching a good movie, lifting weights a few times a day, going to a gym at least once a week, having a beer or two with your friends, or simply taking a walk every day for an hour or so.?
If you do all these things, or at least some of them, then even spending some time on a trading forum may not bore you to tears (a clear sign of its own that you are overdoing it or are too good for forums already), but I have not visited a trading forum for years and I am still alive and mentally fitter than ever. However, instead of hanging out on a forum or two, you may as well consider writing your trading journal. You may easily find it much more useful for your growth as a trader compared to participating in some trading forum. The more active you are in what you do, the better overall as this way you are more likely to reach the stage when you really own the game, which should be your ultimate goal. Most of those you will ever meet on the Internet trading boards not only are still owned by the game, but sadly are doing precious little to change this state of things. Moreover, keeping the trading journal brings you more in touch with your inner core, with your intuition, which can hardly be overvalued. Being able to rely on one's intuition in a field as complex as e-mini trading is certainly a big plus. But to rely on it, you first need to develop and trust it. Practicing trading as often as you can and keeping the trading journal are two good ways to get there. Let me also note that just like practicing your trading craft, keeping the journal is surely one of the things we could consider "actions." It's something that requires a deliberate effort, a bit of self-discipline.?
Let me stress once more that banishing or even merely avoiding activities, even those harmful, makes little sense for this is hardly an effective way to accomplish anything. Plus, you probably don't want to be that hard on yourself. We do engage in them all the time, quite spontaneously too. They are natural and hard to get resist. Instead of resisting them, it's better to consciously observe what you are doing. This way sooner or later you will determine if what you are doing is yet another activity and if you persist in merely being aware that this is not the most effective way of using your time, you will most likely abandon it on your own. But sometimes, you simply need to take a break. So take it, but choose a smart way of doing so, a way that will make your life more balanced and so ultimately more relaxing. What's important here is that by becoming more aware of your behavioral patterns and being able to differentiate between "actions" and "activities" in an impassionate way, they will begin to control you less.?
Interested in launching a lucrative emini day trading career? This author believes that KING, a blockbuster emini trading methodology, can put you on the fast track to success in this field. For more about KING, please see http://www.eminimethods.com/system_king.html
Waldemar Puszkarz, Ph.D., is a web veteran with over 15 years of web surfing under his belt. By training, he is a theoretical physicist, but his interests are much broader than science and include trading financial markets, sports betting, poker, and researching online business opportunities. He is also an avid book reader and sports afficionado. Currently he is making his living mostly as a day trader. He has been in the trading trenches for over a decade during which he has traded a variety of financial instruments. He is the owner and webmaster of Eminimethods.com ( http://www.eminimethods.com/ ) which provides free common sense trading education and simple trading systems and strategies for e-mini and stock markets as well as reviews of honest online business opportunities.
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