The purpose of this post if to share the physical and mental preparations I go through before I even start thinking about trading. Like a football player warming up before the big game, I want to make sure I am adequately warmed up before I engage the markets.
(1) Physical Preparation
> Adequate sleep: 8 hours sleep daily is a must. I also take an hours nap in the afternoon. The nap is necessary because I am 12 hours ahead of the US markets and trade during evenings.
> Physical exercise: I keep myself active by playing outdoors with my 2 daughters everyday.
> Bottle of hot green tea on my trade desk: excellent drink to keep me alert without the nasty side effects of coffee.
(2) Mental Preparation:
I affirm my trading philosophy the moment I sit down at my trade desk:
> Be disciplined to follow trading rules: Buy lows, Sell Highs & Avoid middle of the range
> Buy Pullback into Major Support; Sell Retracements into Major resistance
> Be Patient and let price action come to session trading plan
> Be Confident and Decisive in executing orders
> Be strong and let the trade play out - Fear is not an exit strategy
> Do not trade at dangerous times, zones and days
> Protect capital by avoiding bad trades and cutting losses early if mistake is made
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