- Preparation
- Focus
- Commitment
1) Preparation
Each morning both traders present 2-5 specific trades with specific 1/2/3 Entries parameters before 7:30 AM after which we agree on which trades make the most sense. If no agreements are made, no trades are made. We should also present our specific reasoning for each trade (specific charts, indicators, levels, candlestick patterns, etc.)
Also, the majority of our concentration should be on OTA trades. We should be limiting our focus of scalps.
2) Focus
All attention should be focused on the market from 7:30 until 10:30 or 11:00. Since the majority of the best trades happen before 11:00 AM we should be concentrating on being mentally prepared to "pull the trigger" at any moment if our trade signals are met before 11:00 AM. In my opinion we should stop trading at 11:00 unless we are in a trade. We should leave and do other things. There is plenty of money to be made most days before 11:00. There is no reason to spend the rest of the day staring at the screen if we are not trading. This, I believe, will concentrate our focus on our morning trades. We are in a rut and I think we need to shake things up. This is one way of doing that. This will force us to be focused and determined in our trading everyday.
3) Commitment
We are trading against the best traders in the world. If we do not bring our "A Game" everyday we will get our shorts handed to us (which has obviously happened from time to time). Everyday we have to ask ourselves: "Are we doing EVERYTHING we can to become the best trader we can be?" If not, then why not? We still have a lot of work to do. XLT's and studying charts and drawing levels are the only way become better (and better prepared).
We must double down on our committment. Anything less is not acceptable. We must refuse to lose.
Finally, we have made a tremendous amount of progress over the last few years and we are very close to becoming successful. Now is the time to recommit. Now is the time to start making money.
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