Thursday, August 19, 2010

Finding Consistency(page 230)

"The most important lessons in life are simple yet difficult to execute. In trading, consistency is the key. A systematic trading approach, a thorough understanding of the limitations of that approach, and the tools used to build trading systems can help you be more successful and constant. You must be consistent to trade well. You must be able to execute your plan or the plan has no meaning."

Excerpt taken from "Way of the Turtle"

This is what I was writing about my bowling game which I could be so consistent with my games - from the way I hold the ball, pre-shot routine .. to my release point and board targets. I could easily spare most of the cases, and play a consistent way. I know I m NOT consistent in my trading(YET) as I m still experimenting on my trades!! Is that purely excuses or I do actually learnt form those mistakes?

Being consistent also means to trade the WINNING way(s) and to plan the trades as one should be or comfortable with. And to execute the plans once it triggered(buy or sell in trading). CONSISTENCY is becoming my 'problem' now ... and I will need to address that soon and play my cards well. I need to get back my confidence before it ruins my whole systems. I need to IGNORE the CN's forum if I could not be discipline enough NOT to follow their stock-calls. I need to remind myself to be a contrarian ... stay in course of my trading ideas and beliefs.

As I believe rubber-stocks WILL recover, I should stick to it even tho some GURUs(or self proclaimed) saying all the doom situation about rubber-sector(BTW, USD vs MYR is at the lowest now ... 3.12, going to 3.10?)

I still thinking I should re-vamp my whole system as it jumbled up ever since I joined CN. Blame it on my lack of discipline. Blame it on my beliefs that they are 'gurus' and should guide us well.

By re-reading those investment or trading books, I noticed that I m committing more 'trading sins' for the past 3 months. I need to recognise the failures.

11.40 pm : DOW down 170 points. A123 touched it historical NEW low today at 7.12. I will be tempted to average down but this is new low ... so, I need to wait. For TA trading, I should have cut it loooong time ago. Just like JCY touching new low ...

Western Digital is another very tempting stock with PE single digit!!


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