Furu to Guru Breaking News!

What's up guys and gals? I know I haven't posted in a long time and I apologize for that. I had to stop trading to focus on personal things. But good news! I've finally found time to get some day trading in, and that means blog updates are coming back and they'll cover topics that aspiring traders will especially appreciate. After doing an analysis of my blog statistics, these are my most visited pages on Furu to Guru:

1. Resources Mega List
2. The Best Traders to Follow on Twitter
3. Why Trading is the Best Therapy
4. My Trading Rules

So based on these results, I'm going to focus my attention on delivering more powerful and useful resources, trading psychology research, and trading rules. Also, to give you guys an idea of how useful my posts are going to be, here is a little taste of what's to come. The following are my Laws of Trading based on extensive research that I've conducted in cognitive science, human behavior and motivation, and in interviews with ultra successful traders:

The Laws of Trading:
Eternal Trading Maxims
Growth mindset (my skills can always be improved) instead of a fixed mindset (my skills cannot be improved because X, Y, and Z). Watch this TED talk by Carol Dweck on The power of believing that you can improve.

Set a clear vision of where you want to go in the future because a great vision will provide powerful motivation each day, reduce stress,​ and help identify the right goals to get you to your vision of being successful.

Will power is limited, so focus on one goal at a time to build momentum (watch this TED talk by BJ Fogg). Think Newton's First Law of Motion, a body in motion tends to stay in motion and vice versa. When will power becomes depleted, your brain switches to a risk-seeking, instant gratifying mindset in order to feel "better" in the short term but at the expense of a person's long term goals. Achieving even a single goal creates motivation, builds self-confidence, and reduces stress. Make sure to reward yourself for achieving even one goal (see Navy SEAL video "The Human Brain" on my "Resources" page).

Journal emotions to reduce stress (see "Journaling emotions" video on my "Resources" page).

Continuously perfecting a daily routine (a.k.a. process) is the single greatest predictor of a successful trader. Don't focus on the initial trading successes/failures and swings in P&L. Focus on setting a clear routine for each portion of the day, including weekends, and adapt the routine as you evolve as a trader.

Document and test everything to help identify trading strengths and weaknesses, and to concretely track progress (then progress becomes more clear and tangible instead of wishy-washy, which increases self-confidence and reduces stress).

Risk management is more important than any other aspect of actual trading. Always identify how much you are risking before ever taking a trade.

Think probabilistically. Always be calculating the odds of whether the buyers or sellers are in control/about to control/or equally in control of the price of a stock. This helps focus your attention on the best stocks to trade and when to trade them.

From failed moves come fast moves, usually to the other side of a price channel.

I hope you guys enjoyed this teaser and I look forward to you coming back to see the great posts I've got in the works! And as always, let me know your 2 cents in the comments below and thanks for stopping by FTG!

Jory

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