vegasoul,, It's not NIshbashi...its an easy spelling. It's also a Japanese Candlestick term. It's spelled Nihaba Ashi. Your also taking some things out of context. First of all, I'm assuming WannabeTrader27 question was the following via quoting it... I was wondering what makes trading hard work. Is it the preparation before the market opens? If so what type of preparation do you traders undertake? Is it the research involved after the market closes? He's asking if its something that occurs before the market Opens...what is it? He's also asking if its something that occurs after the market Closes...what is it? Something else...it sounds like you got it mixed up. Your making it sound like I said I do 30 minutes of research per day as if I said I do 30 minutes of work per day. Then you followed it up by saying you discourage this type of behaviour... Then you used my name to followed that. Huh? Wanna question DID NOT say what did you do when you first started...his question was about what your doing today. Had he said something like how much work (notice how I didn't say research) are you doing today in comparison to when you first started... He would have gotten a completely different answer. If you re-read my reply to him very carefully. You'll notice I first talked about personal stuff because that's what I thought he was asking and I did ask him to clarify. Look at some of the other replies by other traders...they also took it as if he was asking about our morning routine prior to the Open...what it was. Shower, breakfast, exercise et cetera. My point is this...what behaviour are you specifically discourage about? As a trader...you got to have a life. Its a job...you get up in the morning and do most of the things you would as any other person that has a job. This is what I did yesterday morning before the Open. I woke up at 0600am est to give the baby his milk bottle...he finished it at 0615am est. He then sat in my lap as I watched CNN and CNBC until 0630am. At 0630am I prepared his breakfast so that when my spouse wakes up at 7am est she can feed him. 0630am to 0700am I'm out for either a morning walk or I'm reviewing charts that traders have sent me along with questions about their specific trades in the Eminis. Yesterday I was reveiwing those charts and replying back to those messages. 0700am to 0730am the spouse feeds the baby and reads him a story...its this time I take my shower and then changes his diaper if he snuck in a second poopper. 0730am to 0815am...I spend more time with my son and stretching if spouse has no plans for the morning... If she does...she's preparing him to leave like go see Grandma or spend time with her women mothers group. It's this time I slowly begin tuning in the market especially since I trade often around 0830am est when there's a key economic report release... If not...I'm reviewing my strategies, reveiwing trades from the prior trading day and printing out my journal templates along with answering any new emails or pm's while reviewing those charts. By 0930am est...I've reviewed the daily charts, 3min charts, 15min charts and chatting with any trader in realtime about what we are zoning in on for the first 30mins of trading. This communication with other traders is essential to my own trading. I talk to a trader in the middle east that clues me on any developments throughout the trading day...the same with a trader from Japan, Germany, France, Israel, England, Belgium and the U.S...of these traders...one works for Bloomberg and has a bloomberg terminal and another works for Barron's Magazine... All trading either ES, NQ, YM, QQQ, SPY, DIA, Eurex or bonds. This connection throughout the trading day eventhoug I don't sit in front of my computer 24/7 eventhough its ON 24/7 so these traders can send me messages whenever they want. How important is the above... Lets put it this way...a few times I've gotten an early jump on things prior to the info hitting the market I trade...ES. Eventhough you seem to be discourage by this sort of behavior and think most don't do it... Chat with other traders. Some traders prefer to read the morning business newspaper, some traders prefer going to the gym, some traders prefer reviewing 100 to 300 stock charts while others prefers to come online and spend their time personally attacking or debating... I prefer to stay in contact with other traders that are trying to stay alert to any breaking news events or something they simply forgotten about. That communication with other traders or my entire morning preparation I just explained in detail is what I would think any trader does that's a parent with a baby, eats, showers, exercises and chats with other traders. However...when I first started trading well over a decade ago... I studied, researched and analyze the charts, business newspapers and anything else from what seem like 0600am to 9pm est and I wasn't doing any online chatting then. Simply, I've been around for a long time and have become efficient with what I do today in the morning...during the trading day and after the market closes. Your summary... ...I KNOW I can't do 30minute research per day or chat with other traders and trade for a living. I KNOW most people can't, so I am discourage this sort of behavior. If it works for NIshbashi... Is inaccurate and way off the market. Last of all...don't forget...my day is done by 3:30pm est as I've already mentioned in my 2nd reply in this thread and I have my work done by 5pm est as I've mentioned in my first two replies in this thread. Some ETers here personally know me...they know my family is first and my trading is a distant second... It's a balance lifestyle. So please explain to me how or why you think I do 30mins of research per day along with implying I'm just chatting as if its something negative? Yes...my routine works for me and I encourage every trader to bring balance in their life especially during the trading day (if possible) and treat trading like a job... Such is not something to be making blanket statements via saying its 30mins of research and useless chatting eventhough you didn't use the word useless... it's what you implied as not being productive. P.S. You should have noticed I twice ask WannabeTrader27 to clarify his question because I didn't know if he was asking about our personal routine or our trading routine or both or any specific strategies we review... I've now come to the conclusion he was actually talking about a trading plan (stops, profit targets and such) or maybe I'm still confused NihabaAshi
Vegasoul, Please do not confuse your trading goals with my trading goals. ___________ Note: Looks like your in that camp of judging me without knowing anything about my background... I give lots of hints in my prior posts at ET...you can either do a careful reveiw or make more assumptions. ____________ Your also intentionally saying I said I am relaxing while trading... When in reality I said I get away from the markets via using my lunch break or taking advantage of any non-trading environments via relaxing... Some traders eat lunch for an entire hour or 1.5 hours... My actual eating last maybe 15mins because I often eat a very small meal like a salad or yogurt or sushi. The rest of my lunch break I'm relaxing...taking it easy...listening to music. Also be aware of the fact I'm not a scalper. Also be aware of the fact your goals are different than mine... Your obviously in the game to become rich via saying... ...you are never going to get rich with that sort of mentality. I'm already rich and I'm not talking about finances. Therefore, I'm not trying to be abrasive to you... I'm just making sure you understand a little more about me and stop trying to twist something I said into something I didn't say so you can make a blanket statement. I still can't figure all why you assume I only do 30mins of research and relax while trading. Re-read my post again...very carefully... Especially read what I do for lunch...I relax. I did not say I do this ALL DAY. Can you please explain why you took something I said about my lunch break and twisted it into something else ??? By the way...here's a mentality that will help most traders... Be effiecient...you don't need to be stuck in front of your computers 24/7... Use your time away from the market as efficient as possible... Take advantage of any non-trading durations in the market to get your work done... Don't ignore your personal life...its critical to your mental well-being. The above is what I've spelled out throughout my posts in this thread and in many prior posts at ET. Its traders like you that label other traders (you used the word genius) in a way so others can pick up on it as if I said something for fact. In my opinion...its that type of mentality of twisting the obvious into something its not... Not good for trading. But hey...if that's you...that's you. Treat your trading like a business...treat it like a job... You'll already be ahead of most. Bring balance to your lifestyle via being effecient as possible...take advantage of your lunch breaks or any other time away from the markets (vacations, a dinner once a week at a friend with your family and his/her family, go see a movie on the weekends, have hobbies outside of the market... By the way, I spend about 3 hours per week in my darkroom (photography)... mainly on the weekends. Time away from the markets. Great advice for veterans and newbie traders and I doubt its the reason why 95% of traders lose money... See how I twisted something you didn't actually say Here's what I think why most traders fail (just my personal opinion): 1. Lack Discipline 2. Trading without a plan 3. Does not treat their trading like a business...correlated with #2. 4. Undercapitalized 5. Self-sabotaging like not having enough confidence in their trading plan. 6. Over margined 7. No balance in their life 8. Consistent habits of blaming others...broker, software, their god, their family and just bad luck. 9. Many more reasons... You intentionally ignored the above and tried to say its my mentality the reason why most traders lose... Geeesh...you are either lost or confused about my posts... Hopefully its been clarified or spelled out more clearly to you. Once again...this is not a personal attack on you... It's just a post to let you know your wrong with your interpretation of what I said... Gotta go...spouse, baby and I heading to a 10am est puppet show... Time away from the markets Or would you prefer me to sit in front of the computer all Saturday researching and studying charts ? NihabaAshi
Niha, is one of the most disciplined and focused traders I've seen. I've seen him in his chat room and he works harder then most. He's consistently profitable and is very well rounded on all aspects of trading. Anyone who could run a website, trade, help newbies out etc...and find time for a family is a man among men, in my opinion. Everyone has different methods to prepare themselves. Some are more natural in some area's then other. As the saying goes"one man's warm up is another mans workout." It also depends on your trading style, etc.