Archives of “February 2019” month
rssThis problem of letting a bias "infect your thinking" is a big MONSTER
Appraising Your Trading Relationship To Pride
1.Does your self -esteem rise and fall with your latest trading ?
2.Have you ever taken a trade just to prove your ability as a trader ?
3.Do you brag about your winning trades to others ?
4.Do you try to hide your losing trades from others ?
5.Do you ever make up false stories about your trading to impress others ?
6.Do you worry about what other people think of you as a trader ?
7.Make an honest self-assessment of your trading.
8.Compliment yourself and give yourself credit when you do something right.
9.When you make a mistake or do something that doesn’t serve your trading ,plan how you will correct this tomorrow or in the future.Say to Yourself ,”That’s not like me.I can do better.”
10.Notice your improvement and commit to doing better each day ,week ,month and Year.
Animals "know" things we do not…
1 Way To Manage Your Psychology While Trading.
Read Something (Very Rare ) about Jesse Livermore
Indecision and the Win
Watching cricket (or the same could be applied to baseball for the Americans or football for the Europeans and Brits…and South Americans and…) I have often considered how structured and polished the performances are– clean batting, clean bowling and clean fielding.
When is a risk taker going to be coach? When will some one bring the advantages of risk and a polished team into play?
Indecision must bring opportunities.
Why couldn’t a fielding team (that’s getting flogged or maybe not flogged) start to miss EASY field returns, but have a back up plan–thereby allowing for the batting team to be lured into a second run and capitalise on the often poor communication between batters looking for a run out.
Many other ideas and ways of creating opportunities to take advantage of a situation could be put in play. It seems most areas are not being explored.
Markets certainly don’t have those problems with a muliple of false break outs catching everyone on the hop, and whether we like it or not, keeping the game interesting.
Seven habits of successful traders
1) Understand the true realities of the markets. 2) Be responsible for your own trading destiny. 3) Trade only with proven methods. 4) Trade in correct proportion to your capital. 5) Manage risk. 6) Stay long-term oriented. 7) Keep trading in correct perspective and as part of a balanced life. The common theme is self-control. As I’ve often said, if you can master yourself, you can master the markets