It’s been a while since i last updated my blog. Sorry for that…..

Thanks to those who constantly remind me to update my blog. Yeah yeah yeah, blog is meant to be updated, I understand. I’m sorry that you didn’t receive any output from me everytime you return. I had just finished replied more than 20 emails for the past weeks regarding your trading questions and do let me know if i miss out any of yours. I do reply emails but just that give me a little bit more of time, ya.

Talking about the trading questions, one reader asked about my trading style and isn’t it very difficult for me as to stay up late everyday since US Eastern Standard Time is 13 hours behind?

Well, the common misconception of trading the US market is that you have to stay up throughout the whole trading session till 5am in the morning. One friend even told me that he has to stay up every night as that is the commitment one should have to be a full time trader. I mean there’s nothing wrong with that but just that whether is it resourceful or not.

For full time traders, you have to ask yourself what is the reason that you take up trading as your life long job? If your trading style does not improve your lifestyle, then there must be something wrong with it. You might as well go back to your full time job as at least the salary is consistent, isn’t it?

One of the reason that people would have to stay up late is because they do not have a trading system in mind. Even if they have, they would not be using it due to the temptation from the market.

You see, the biggest enemy you are facing as a trader is not from the market maker and professional traders but yourself. You will be constantly battling with the fear and greed within you and that’s most of the traders lose the battle to, not to GOOG, AAPL, IBM or the bad market. They just couldn’t resist the temptation that constantly testing their greed that they abandon the trading strategies they have on hand and act based on emotion. They would tell you that they THINK it will go up…..

But when you talk to them later, they would have their stories to tell you that it’s just not their day because the market is heading into recession, the CEO is not doing their job, so on and so forth. Tell you what, bad traders are the best story teller in the world. No one could compete with them…

But the most common excuse is they have no time to trade, yet they want to trade. They thought that the single most important reason that they lose money is because they couldn’t stay up late to monitor their position.

But is it true? Do you really have to stay up late to be a full time trader?

For me, the answer is a definite NO. I used to stay up late and i still stay up late, when i want to but not because i have to. Trading is always an art for me and there’s no right way in doing it. You may choose to stay up late and trade with tension and there’s nothing wrong with that. However, I choose to treat trading as a hobby and that’s how my trading results excel when i choose to look at it from another point of view.

Whenever I’m sitting in front of my desk, watching the 22″ Philips LCD together with my 2 tiny 14″ Compaq laptops, I’m a happy man. Just think about the feeling of being able to diagnose and read the movement of the chart and make money from it, isn’t it great?

What’s there to be stress about? You are stress if you do not know your risk and you are stress if you do not have faith in your trading system. The other reason is you think you are not good enough, isn’t it? That’s why you are stress and tense.

If you are good and confident in what you are doing, would you be stressed? If you have been doing something long enough, would you be confident of repeating the success? You answer it.

Of course you can still choose to have these unresourceful feeling if you think that is the resourceful state you need to be in to make money. But just that i choose to be different as I’d rather choose to be relax and make money at the same time.

Then people ask me how do i handle my losses? Be happy about it?

Of course the answer is NO as well as it’s MONEY, man. I choose to look at the losses as part of my day to day trading expenses and I always know that the more expenses I incur, the more profit is awaiting for me to take. Taking both losses and profit is essential to trading success. The only difference is how to take it smartly….

But again, my question to you is what level of skill you have to taking losses and profit? Are you able to take losses unemotionally and profit consistently?

If your answer is NO, then get yourself EDUCATED.

People always think that the best teacher to trading is the stock market. They are willing to pay thousands of dollars to the market for no reasons but are not willing to spend a dime in their own education which, perhaps could have saved them ten thousands of dollar.

They thought that by paying a little to the market and read a couple of books and that would be more than enough to make them a good trader. Ha, I really hope it is that easy as there are more than 1000 trading books in Kinokuniya or MPH and everyone would be a successful trader, right?

This is pathetic and are you one of them who trade without the end result in mind? If you are, shame on you!

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