{"id":154,"date":"2008-09-28T22:03:32","date_gmt":"2008-09-29T02:03:32","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=154"},"modified":"2013-02-20T15:04:58","modified_gmt":"2013-02-20T20:04:58","slug":"preparing-my-mind","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/preparing-my-mind","title":{"rendered":"Preparing My Mind"},"content":{"rendered":"<p>I got kicked off the couch an hour ago as <em>Desperate Housewives<\/em> started. Women. Not a big fan of the show, so I started my Sunday Preparation.<\/p>\n<p>I&#8217;ve been working on a few things with my trading. My sense is that if I can conquer a few of my weaknesses I can get better. So I went into my bedroom, found some quiet, and started visualization exercises. One exercise that I&#8217;m working on is what I call <em>comfortable<\/em>. Sometimes after a market that offered so much opportunity like the middle of this month we traders continue to trade too aggressively. One of our best new traders, who has insisted on being called\u00a0&#8220;The Red Dragon&#8221;, had trouble with over-aggressive trading last week after chopping it\u00a0up during the middle of the month. The market is calmer. Being so aggressive as the middle of the month will cause losses. So I prepared my mind to focus on trades where I feel <em>comfortable<\/em>. Even as an experienced trader I learn during the trading day. I process the information that the market is offering and I formulate trades that will work in my stock on that day. I develop a very clear picture of what I need to\u00a0see to make <em>comfortable<\/em> trades. Basically, I develop a list of if\/then scenarios that if they occur I will pounce on. And any trade that does not produce\u00a0any of these if\/then scenarios\u00a0is eliminated for that day in that stock.<\/p>\n<p>I traded RIMM on Friday. My trading style and personality is not well suited to trade RIMM other than days when it&#8217;s undoubtedly In Play. And Monday will be one of those days since it was so weak after earnings. I visualized the trading scenarios that I anticipate will be <em>comfortable<\/em> trades for me. Now, on Monday I will also learn intraday. I will make adjustments to what I anticipate if necessary. But there are some scenarios that I really want to trade with size on Monday if they appear. And I need to prepare my mind for the aggressiveness and size needed if I see these setups. But I also need to prepare my mind for my <em>comfortable<\/em> trades in RIMM and visualize myself\u00a0only making those trades.<\/p>\n<p>Hey, maybe I won&#8217;t even trade RIMM. Maybe there will be breaking news in another stock or the bailout plan that will offer a better trading opportunity. But I&#8217;m prepared to trade RIMM if necessary. I have visualized another good trading day for me. I&#8217;m ready.<\/p>\n<p>I&#8217;m gonna go back and reclaim my couch now.\u00a0<em>Entourage<\/em> time.<\/p>\n<p>Good luck with your trading tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I got kicked off the couch an hour ago as Desperate Housewives started. Women. Not a big fan of the show, so I started my Sunday Preparation. I&#8217;ve been working on a few things with my trading. My sense is that if I can conquer a few of my weaknesses I can get better. So I went into my bedroom, &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/preparing-my-mind\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4676,163,30,18],"class_list":["post-154","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-preparation","tag-prop-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Preparing My Mind | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/preparing-my-mind\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preparing My Mind | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I got kicked off the couch an hour ago as Desperate Housewives started. Women. Not a big fan of the show, so I started my Sunday Preparation. I&#8217;ve been working on a few things with my trading. My sense is that if I can conquer a few of my weaknesses I can get better. So I went into my bedroom, ... 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