Archives of “January 20, 2019” day

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Left Brain Trading

  
  Education
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 I’m not going to talk about ‘anatomy’ of the brain,as you might think….(as I show you the left picture)

 No.Not at all.
It is about ‘left brain trading’.The use of the left brain for trading.
As I quote from the book:

“When you start trading forex,its like trying to navigate from the middle of a foreign city where no one speaks the same language.The road sign are confusing,the map unreadable and you can not even see the stars because they are obscured by the tall buildings.

Left brain trading technique acts like helicopter that lifts you into the sky.You can see the whole city laid out below you.You can see the best routes to take and your direction is clear.”

Be Imperfect

  
  Education
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As a trader – or an investor – you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful:

If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the way. You must begin to think of trading as a game of probability. Your losses ( that you hope will return to breakeven) will kill you. If you cannot take a loss when it is small ( because of the need to be perfect), then you will watch that small loss grow into a larger loss and so on into a vicious cycle of more and more pain for the perfectionist. Trading on hope does not work. The markets can remain irrational for a lot longer than you can remain solvent.

The object should be excellence in trading, not perfection. Moreover, it is essential to strive for excellence over a sustained period, as opposed to judging that each trade must be excellent. This is a marathon…not a sprint.

The greatest traders know how to take cut losses and let winning positions run. Perfectionists often do exactly the opposite. They get in at the wrong time, stay in too long and then get out the wrong time. Perfectionists are always striving and never arriving. The market will find the flaw in a perfectionistic trader and exploit it day after day.

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