Goals

0 397

Digging deep as a trader

As the 2017 markets continue to reach new highs & settle into tight ranges, making progress can seem like a long & challenging road for a lot of traders. This is where the importance of patience, discipline & confidence really play a fundamental role in progress as a trader.

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 66,600 downloads and counting so the answer to your question could be the difference to a fellow trader!

 

We’re always told to set goals & told about the importance of goalsetting but what if this concept is now outdated? What if “bucket lists” are now a more modern approach to a goals mindset?

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 66,400 downloads and counting so the answer to your question could be the difference to a fellow trader!

 

0 2070
Piptastic Training for Traders

Have you ever felt like giving up on your quest for trading success?

If so, then you are not alone. I think at some point in every traders learning curve is that niggling feeling of failure that seems to chip away at your confidence.

One of the vital things to be aware of is that trading is a skill like any other & it does take perseverance to succeed especially when it seems you are closer to giving up than trading success.

Listen in as I discuss this process in a traders mentality & some motivation to help you get over it.

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 24,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1157
Piptastic

2014 is nearly over! Can you believe it?!

Many people choose to do their goal setting or review of the year over the festive period or indeed go down the route of New year resolutions but if you start early you can give yourself a real head start.

In this podcast I’ll be discussing how you can start the process early & the benefits this does. Not only can you start preparing your subconscious mind for success in 2015 but you can ensure you have a good run up in your preperation before the year is finished.

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at support@piptastic.com  – this show has over 20,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 626

Hurrah!

Summer is here & the time is right… for dancing in the streets..

ewww just when i had put those images of jagger & bowie out of my mind however there is a very important issue with summer for us traders & that is potentially less time at the screens & no more warming our feet on the laptop power pack during cold spells!

Anyway, take a look at this short video I have done which details some pointers for us traders during this hot spell.

Enjoy!

0 587

Today was one of those kind of “milestone” days for me. You may recall that a short while ago I wrote about realising that I had been to the gym over 300 times I was in exactly the same place I was when I started! Clearly there had been a peak in the middle somewhere of fitness but it all boiled down to one thing – do the same things, you get the same results. Of course, even during my gym visits, it was still ok to eat chocolate & fatty dairy products.

But this time was different.

After realising the above, I took massive action. Now I won’t go into the details of my gym & eating regime here but the upshot of it is, that I changed my approach to generate a different result. Today was that milestone where I reached the 400th visit to the gym & I am lighter & fitter than I was during the previous 330ish visits. Even better than that is that I am at my lightest weight for over 10years but I also realise that health & fitness is a journey not a destination. I’ve had to change my entire view & outlook towards my training.

By now you should be seeing the obvious parallels to trading.

If you do the same things you will generate the same results.

Good if you are picking up your daily target each day, however not so good if you are not. More importantly, have you decided to review & change approach?

It is without doubt that your road to success within trading is going to be littered with obstacles, hard times & challenges after all, if it was easy then we know everyone would be doing it, but it isn’t.

There will be times when you want to quit, throw in the towel, bin it for some other making money venture but this is exactly the point that trading sorts out the groups into who will achieve in trading.

Many times when people reach this point, they will forget to ask themselves if they know what price they are willing to pay in order to achieve success. Now, don’t get me wrong. I’m not referring to paying a price in terms of purchased materials but merely the price in terms of your own sacrifice.

What is it you are willing to place on hold in your life, watching less telly, staying up a little later or getting up a little earlier? Do you even know?

Now is a good time to ask yourself the question.

What price are you willing to pay in order to achieve success in trading?

Pretty much everyone I speak to wants it bad, but how many are willing to put the effort in?

Look at a sportsperson training for next years Olympics. Do you think they roll out of bed at 10am, quick macdonalds breakfast before deciding to train only to put in a half hearted effort & then head home to play on the xbox.

Or are they up at a very early hour, putting in more training before 7am than most people will do in a week, focussing on what goes into their body & more specifically their mind.

The difference between them & us traders (apart from the six pack!) is that only one of them gets the gold medal. We, can dish out gold medals to whoever trading chooses.

Dr Alexander Elder quotes in his book that one of the world’s leading hedge fund managers spent the first three years of his trading career in a loss making position. That means not coming out of the red for over 3years. Most home traders give up after 3months. That man knew he wanted a gold medal.

You may find however, that some sacrifices in your quest for trading success are unrealistic or are things you may not want to sacrifice. This is your choice & your decision alone.

But whatever you decide is worth sacrificing or not, I can tell you that there is something for everyone in trading, from the skilled speed down on the 2-5min timeframes, the more reliable solid hourly timeframe for those that are time challenged during the day all the way up to swing trading, looking at those end of day charts.

The longer you persevere, the more chance you have of succeeding in trading.

Until next week, have an amazing weekend & I’ll see you at the top!

Damon

0 629

Not quite “shakin that ass” but isn’t it amazing?..

Seriously amazing.

Just stop & pause for a moment & think about what I will say next.

The screen in front of you can potentially unlock your world. All the ingredients are there just waiting to be mixed together correctly. Cash, property, flash cars, fast women/men, no debts, holidays, trading on the beach with your laptop wearing Piptastic speedos….

Ok, maybe not the last one but you get my gist. Basically what I’m saying is that the screen right in front of you can change your life. That’s real power.

So, we have a tick in the first box because I think we all agree that the potential is there for anyone but why does it only happen to a few.

Just imagine all of us on a coach trip. We are all sat in the seats, having a good old laugh, chinwagging about the good ol days of eighties music & discussing last nights telly…. But wait, who’s this joining in with us?…

The coach driver!…

Here we are, at the back of the coach (because whoever got the back row was kool) & where’s our driver- he’s only at the back joining in the laughter!! We ask in a panic “what the hell are you doing back here”…

“it’s ok, the coach is fitted with one of those fancy autopilot thingys… I can even go to sleep behind the wheel if I want…”

Phew, that’s alright then…

Let’s pause the Betamax there… what are the odds of someone actually saying… “I’m not avin that… I’m off to grab the wheel”

Including me to be first in the queue because I would prefer to be in my own hands.

Yes, the smart people are probably grinning right now claiming then why do planes have autopilot..

I say, well why do airlines train pilots for years, pay them loads & stick them in the cockpit with the autopilot.

Bottom line – WE are responsible for moving forward whether its driving flying or trading. Most if not all full time traders will have taken an off the shelf system & made it there own. They learn to roll with it, when to trade it & when not to, how many pips to take, when to let it run. A bit like a pilot flying through a patch of turbulence really, they guide the plane through it using their skill & judgement.

Brilliant Damon! You are so on the mark I hear you say but wait…

The next key is how do you really make a system/method/ strategy your own?

That, my friend can only come with time, after all a person does not become a doctor, surgeon, pilot or even learn to drive a car by reading a manual.

You see, making a system your own takes time. In fact it requires at least 6months in order to tune yourself in with daily observations, demo trading, record keeping, analysing.. & then the loop starts all over again when you spot something that you don’t like or doesn’t work.

Most people are not that patient.

And that is where a lot of the challenge lies in trading.

It’s not the screen in front of you that is stopping your goals becoming reality, it’s the individual.

Master yourself & the rest is a walk in the park.

Until next week, have a great weekend & I’ll see you at the top!

0 546

Hi all,

Guess what? Today is a fantastic opportunity for you. In fact tomorrow is going to be even better. Actually just scrub that; let’s make your whole life tip top, ship shape & soooper doper!

Starting today, you are on par with me, you & in fact every successful living person you know. Level playing field, starting line stuff, being equal to everyone you look up to & respect. Have I gone nuts?

No, you see this morning we all started off with the same amount of time, 24 hours. In fact, by the time its finished we will all be at the finishing line together, ready to start all over again….& again…. & again….

You see time is the one thing that is equal for us all & a few weeks back I was telling you to appreciate that you have time to succeed in trading & now we need to look at those magical 24hours that we all have.

Firstly, how do you wake up? Do you spring out of bed, refreshed, raring to go, ready to face the world head on, cheerful, optimistic?… maybe?… some days?… actually me neither.

You see, I’m one of those people that we say “not a morning person” which means I get up (eventually!!) head to the bathroom, get ready, move around the house like a really slow dinosaur until I eventually get to the mancave & life starts.

So, if I’m trading really well then the first part of waking up can’t be strictly true? Or perhaps, I’m missing some vital piece of information?..

Whatever time you get up, the clock is ticking for that 24hour period – you either use it or lose it. Now, you are probably scratching your head now as a few weeks ago I was saying, chill man, you’ve got all the time you want to make it in trading, whereas now I’m saying, yes.. that’s still true but I want you to think about using the time more efficiently.

When was the last time you studied time management? Sure we can all make to do lists & use outlook calendars etc. etc.. but have you ever considered time management on yourself? For example, how much time have you devoted today to reaffirming your goals?, studying charts?, trading?

The challenge we face as traders is that negativity is EVERYWHERE. TV, newspapers, friends. Family, failed trades, emails, radio… but what do you actually do to get rid of the weeds of negativity in your own life?

Going back to my example of getting up in the morning, what I didn’t tell you was that within 10mins of getting up, I have already read at least two pages of a self-development book. By the time I get to the mancave, I have read a chapter. In my 15mins prep time prior to taking first trade I have revisited my goals & reminded myself of my I’m doing this.

That’s all by 9am.

If I get to the gym that day, in pops my iPod & more motivational stuff going in, again, I have 30mins or so of either use it or lose it time.  What about “throne”time?…no need to elaborate here but you get the gist of what I’m saying.

So we can take our time in achieving success in trading but make sure you use the time you do have effectively. Don’t waste it.

One of my favourite writers is Jack Canfield & he has written over 100 books… that’s right over 100!! My first question was how? How has he managed to write that many books in such a short timespan? I want to know, in fact I demand to know.

So I emailed him. That’s right, I asked him directly.

I didn’t get a reply… from him, but I did get a reply from his office who informed me that he was really busy but the answer to my question was that he spends one hour a day writing… every day. Da dah… 100 books later. So now I know & all I have to do to replicate his incredible achievement is the same. By the way, any future emails are now answered by my office staff as I’m real busy….

So now we know that you have time to make it in trading & now the realisation to use time effectively otherwise it’s gone so let’s apply this to trading.

Instead of just staring at charts all day long what if you got focussed?… real focussed? Perhaps spending the morning session trading & then the afternoon is dedicated to 1-2 hours of analysing screenshots then 1 -2 hours of demo trading plus a break to read a chapter of a book?

Evening trader? No problem as you probably have time during your day to read a chapter of a book or listen to your iPod (on the commute perhaps?) or what about actually taking your screenshots to work with you so you can spend the lunchtime analysing? Then in the evening is your trading session.

All these examples are is effective use of the time you do have.

So this weekend make a pledge to demand more from yourself & demand more from life as it really is what you make it!

Until next week, have an amazing weekend & I’ll see you at the top!

Damon

0 570

Hi everyone,

Ever had that “brain wrapped in cotton wool” kind of feeling? You know, the one where you;

  • Can’t see the “wood for the trees”
  •  information overload
  • confusion as to what works & what doesn’t
  • one person saying a method works & yet another saying it is really bad
  • unsure of which markets to trade
  • too many markets
  • too few markets
  • too many methods
  • not enough methods
  • not enough time
  • not enough funds
  • hitting the brick wall
  • no good at this trading lark
  • perhaps it’s the platform
  • who’s teaching is right
  • who’s teaching is wrong?
  • Am I missing the holy grail?

Shall I go on?…. or perhaps you have already picked out enough of the above to be nodding your head right now?..

Ok, let’s see if we can burn a little ray of sunshine into those fog clouds to see if we can start clearing them but I need your help… seriously, I really need your help on this one.

What ideally needs to happen is a few minutes of “you” time. Just enough time where the outside world is shut off & it’s just you, me & these common sense approaches.

1.     Give up your negative thinking

This isn’t easy but it must have a starting place. Most of us suffer from negative thinking at some point. When I wake up in the morning I am the most negative person ever!… several minutes later after engaging my brain & rebooting my mental server, all is well but giving up negative thinking is tough to the untrained mind because it is comforting, it gives excuses for failure & it allows you to avoid any challenges. Just think, if you are trying to aim for a goal which requires positive thinking, then if you are negative then you can only be working away from your goal. Allow me to be blunt. Success in trading will never come to those with a negative outlook. Negative thinking HAS to be turned around before you will attract trading success . This is fact.

2.     Trade for achievement, not money

Many people starting out in trading are only focussed on the money. I believe this to be the wrong approach. Sure, we all enjoy the financial aspect that trading success brings us but personally, my life is never going to be measured by financial success. Others may judge me on this but my life is successful in terms of freedom. Free from job slavery, free from political slavery & free to do what I want, when I want within the laws & moral codes. This makes me happy, not money. Now if you have that burning desire for something like freedom or achievement of some description then money tends to automatically follow. In fact, most of the full time traders I have met both in person & online from around the world share a common trait – money is secondary to our reason for trading & in fact, many of these with small fortunes you still wouldn’t give a second glance in Tesco’s on an Friday morning because they are happy & not motivated to impress others with financial gain

3.     Develop persistence

Without persistence you are not going to achieve anything as you will be required to make commitments on an ongoing basis. When it’s late, when you are tired, when the going is tough – all these kind of time when trading is testing you to the limits & only your persistence & commitment is going to pull you through. Two phrases spring to mind here;

Rest if you must but don’t’ quit

Trading is lifelong marathon, not a 30 day sprint

4.     Demand more of yourself

Make a commitment today to stop using all of the excuses we saw at the top of this page. You can do anything, extremely well, if you decide to do so & if you find yourself saying you are no good at trading, well there is three reasons that you aren’t – firstly, you are the one who says it… nobody else, secondly, you avoid putting in the extra effort whenever you can & thirdly, you never practise your trading on a consistent basis.

Reverse these around & just check it out… Stop telling yourself you are no good at trading & start believing in yourself, make sure you put in the extra effort like screenshots etc… & lastly make sure you put into practise all the extra effort you put in after all you have no chance of refining a method that you have relied on a static screenshot to produce. You need the live market to do that & after all, if you can’t practise your thought & methods on the live markets then you are simply going through the motions.

Develop these areas & you really can be the winner who takes it all

Until next week, have a fantastic weekend & I’ll see you at the top!

Damon

SOCIAL

16,116FansLike
237FollowersFollow
113SubscribersSubscribe