This Week The First Award goes to "SUNGS"
Here is a guy who is relatively "new" to this trading game. He's tried it all and thru trial and error and being a loyal member here for about one year now has made a name for himself and i can attest his confidence as a trader has sky rocketed. This man is an 8th degree Black belt in TaeKwonDo and owns a Matrial Arts School in his home town. Obviously, he is not a stranger to discipline and confidence which are essential skills which definitely come in handy when it comes to trading.
SUNGS is one of the most honest traders in my chat room. ALL his entries and exits are documented in real time. He will always give his exact entries and his exact exits, win or loss.
He does not bet the house on any single trade. His trades tend to be small sized in nature to allow him to NOT be emotional. We all know big sized trades make us all emotional, right?? But we all know that small wins accumulate to become big wins over time. That's my philosophy at least.
SUNGS, this week emerged to me as a leader in that he traded TO WIN. He was NOT scared to step in and make a bold call and put his money on the line. Trading with confidence and trading to win. Trading to NOT lose is not the same as trading to WIN. SUNGS, this week saw an edge and exploited it to the maximum.
His style is to buy dips in stocks when most are afraid to step in. His dip buying techniques make sense to me in that he is calculating in his methodology.
Very inspirational and i want to congratulate him with this "AWARD".
SUNGS has found a home here at the ART OF TRADING and he has not missed a single day since joining here almost one year ago. He is quickly rising to becoming a leader meanwhile always staying humble and grounded. All the markings of a great trader in the making.
What should we learn from SUNGS?? Trade with confidence and TRADE TO WIN! Trading to not lose is a losing strategy. If you are not confident in the trade you are putting on, chances are it will not work. Trading scared does not make you money. See a good trade setup? TAKE IT WITH ABSOLUTE CONFIDENCE!
Second Award Goes to "MomoStockTrader" (Marvin)
Here is a hard working family man who works in the technology field and busts his butt off at work that he barely has any time to trade stocks yet he has been a loyal member here since the ART OF TRADING inception in March 2009!!
I have known Marvin since the transition from the 2007 bull market to the 2008 bear market. He used to follow me at a free chat room at the time called Wallstreak.com
He followed my blog and my free real time trading calls in the chat room which essentially is what made ART OF TRADING so popular. Used to make some extremely bold calls both (bullish and bearish) and live trade setups which helped many folks at the time. Marvin being one of them. He has been a loyal ART OF TRADING follower and believer ever since! I thank him for that!
Marvin loves trading but wishes he had more time to dedicate to this so he turns to the ART OF TRADING to help give him generate trading ideas while he is hard at work. Why was marvin so special this week? Well, here is a guy who barely takes my alerts due to time constraints but did manage to take score out a nice profit one 3 trades which we did here at the ART OF TRADING.
What did Marvin do right?? He recognized this was a choppy market(random ups and downs but essentially the market goes nowhere) and tho the setups i presented to him were good, they just needed some patience.
Marvin took 3 trades this week: BGCP, CAB and FNSR. While i pretty much stopped out at breakeven on all 3. Marvin pulled out close to a $350 profit from the 3 trades!!
What should we learn from MARVIN?? IN a choppy market where price action is random, no follow on breakouts, lack or follow thru on breakdowns. A trader needs to zone on the Absolute BEST setups and HAVE PATIENCE!! Allow the trade MORE time to do "it's thing". In a fast moving market, being impatient with non producing setups is normal, as stocks breakout and react right away! Stocks are in constant motion, movement with confidence.
In a choppy market, we see the exact opposite phenomena! Quality setups NEED TIME and PATIENCE. So relax and allow that trade to work and prove itself! Marvin taught us that MICRO MANAGING your trades(watching every little wiggle and tick) in a choppy market or otherwise even is a WASTE OF TIME AND ENERGY! Get into the trade, know your risk parameters, know you position sizing, know your holding period, know your price targets, know your max loss, know your max gain and PLACE THE TRADE. Now, have the patience to allow it to work.
Hope this helps YOU folks. I definitely found Marvin and Sungs very inspirational to me this week!!!
Cheers to continued success and let's make next week a GREAT ONE based on what Marvin and Sungs taught us!
Good night and god bless you all.
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