hey gears. i think #2 you probably meant focus on reducing risk / managing risk / finding low risk high reward setups. i am also amazed to hear you have a full time job, bcuz you crank out so much code on TV
Yes, It all comes down to, how to keep your focus narrow, and manage your time. Having the active and balanced lifestyle is the key. Trading can get stressful, if emotions are let in. Battling the emotions is another aspects. Its a long journey to be a trader. Why should it be different from others? Even a hobby needs training and efforts and obviously passion. When you have Passion + Training + Time = Mastering the trade.
Good post. Since I recently (and so far successfully) changed my strategy with the main goal to stare less at the screen and the side affect of grabbing "only" the meat of the moves, I agree that "simple rules make it easier to focus". But in order to get there I went through the "complicate" "perfectionist" way, which is a lot of stress and wastes a lot of time. But in the end I see that experience as some kind of boot camp a trader has to go through to appreciate simplicity.
Very true, That's why I said " Smart Trader learn from others mistake" a Good trader learns from his mistake. lol. I was not the Smart One at all. I went through the same, complicated analysis, triple rainbow kinda charts, jumping 100s of strategies, having 50 scans, was scared missing the best opportunity. You name it, I did all that.. Hunting for gurus, found plenty, who always contradicts to what he says after a week - lol. New Hype trade etcs.... Watching tickers move every 2 minutes. It was stressful one year process for me. I survived through expensive mistakes "luckily" by taking small positions in the beginning. Sometime, you get the feeling as a beginner, "Should I or should not take a trader with xyz guru?" The trade goes against you when you do. when you don't it does well. Its not that market is rigged against us. Its our mind playing tricks.