Thought For A Day
Archives of “January 6, 2019” day
rssHarmony With Market
| Your last trade obviously has nothing to do with the potential that exists in the market at any given moment. When you feel compelled to get back, it puts you in an adversary relationship with the market. The market becomes your opponent, it is you against it, instead of being in harmony with it. |
Klarman on leaving room to average down.
Incredible example of Ferrari teamwork —just 2 seconds
Trading Errors
"When you have tremendous conviction on a trade, you have to go for the jugular.
Nothing says "I love you" quite like receiving a Tyrant's Valentine card…
Hindsight Bias …
Trading is A Game of Probabilities
Mistakes -Traders Must Read
- A mistake means not following your rules. If you don’t have rules, everything you do is a mistake.
- It is much better to trade a lower-scoring SQN system that fits you than a higher-scoring SQN system that doesn’t fit you.
- You are responsible for everything that happens to you. When you understand this, you can correct your mistakes. We call this respond-ability.
- Repeating the same mistake over and over again is self-sabotage.
- A trader who makes one mistake in 10 trades is 90 percent efficient; that 10 percent drop in efficiency could be enough to make him/her a losing trader.
