Monday, 22 June 2015

Preparation is the key for successful trading!

At the weekend I read once again the strategy guide of Sultan. With my improved knowledge, I had something like an Eureka moment. There are really good parts for advanced traders which I didn't consider in the past. I appreciate the work of Sultan, I was just not happy with his teaching. I think it's really difficult to learn trading with a mentor without having real time sessions and direct feedback of the trades. Well, it's no time (anymore) to blame any people about my past. I learned the lesson that you can't take a shortcut. Nobody sells a holy grail or is willing to help you for free. I would not do it neither, to be honest. :-) In the end all the traders are in a competition. I know now that you have to find your own way. It's a long and tough one, and only the best traders will survive. I hope to be one day one of them.

In the strategy document of Sultan you find good hints about entry levels. In the past I just entered more or less blind after a break or a lost set. Beside I recognized that the preparation in advance is crucial. You need an idea BEFORE the match, what you will do in different scenarios.

I decided to segment the matches before they start in different categories. There are matchups with big hitters, which are normally not good to trade. Beside you find encounters with a strong underdog, which can be an interesting opportunity. Last but not least, you can find typical swing games. Normally this is the case, when is very difficult to pick a winner.

Of course the above mentioned stuff is not rocket science. It's just for me to be better prepared and not lose the control during the trading sessions. Most of the time the first idea (which you have before the match starts) is the right one. During play time is more difficult to think clear. Fear and greed are taking away the focus.

Thanks to all readers! How I recognized, the number of interested people is rising. That shows me that I am also with the blog in the right path...

2 comments:

  1. I've added a link to your blog on mine, sorry for the delay, I have not had automatic E-Mail updates on so didn't see your message you posted on my blog until now.

    Regards

    TA

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    1. Thanks, TA! I hope you are doing well. How you see, I am working on my turnaround. Last year was terrible, but I am back on track. I see the markets now with different eyes. Probably more like you explained me some months ago.

      Regards

      TT

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