Archives of “January 27, 2019” day

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Quotes -The Disciplined Trader,Mark Douglas

  
  Education
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Never Revenge On The Market

 There is a direct correlation between your ability to let the market tell you what it is likely to do next and the degree to which you have released yourself from the negative effects of any beliefs about losing, being wrong, and revenge on the markets. Not being aware of this relationship, most traders will continue to observe the market from a contaminated perspective

Harmony 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

Assorted Quotes — The New Market Wizards by Jack D Schwager

  
  Education

Don’t trade when you can’t afford to lose. In fact there are few more certain ways of guaranteeing that you will lose than by trading money you can’t afford to lose. If your trading capital is too important, you will be doomed to a number of fatal errors.

Over concern about losing may even lead to staying with losing trades as fear triggers indecisiveness, much like a deer frozen in the glare of a car’s headlights.

Our natural instincts will mislead us in trading. Therefore, the first step in succeeding as a trader is reprogramming behaviour to do what is correct rather than what feels comfortable.

Combine your enthusiasm, energy, focus, devotion, and discipline to becoming the best trader you can be, but once you have done that, there is no point in agonizing over the details.

My current goals are to make a 30 percent return each year, with no peak-to-valley draw downs greater than 10 percent.

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