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Regret & Confidence in Day Trading

  
  Education
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REGRET:  “Regret is toxic because it encourages you to look back and to focus your energies on the past, when you should be using your valuable time and energy to focus on the here and now in order to uncover trading opportunities”.

CONFIDENCE:  “The best traders are successful because they are able to maintain unshakable confidence in themselves and in their decisions.  This serene self-confidence creates a positive state of mind and the will to act”.

THE COLLECTIVE MADNESS OF CROWDS

  
  Education
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All I can say about the following is WOW, talk about THE perfect explanation for the reason behind unreasonable and illogical crowded moves in the stock market…

The most striking peculiarity presented by a psychological crowd is the following: Whoever be the individuals that compose it, however like or unlike be their mode of life, their occupations, their character, or their intelligence,the fact that they have been transformed into a crowd puts them in possession of a sort of collective mind which makes them feel, think, and act in a manner quite different from that in which each individual of them would feel, think,and act were he in a state of isolation. There are certain ideas and feelings
which do not come into being, or do not transform themselves into acts except in the case of individuals forming a crowd. The psychological crowd is a provisional being formed of heterogeneous elements, which for a moment are combined, exactly as the cells which constitute a living body form by their reunion a new being which displays characteristics very different from those possessed by each of the cells singly.

…and it was written by a psychologist in 1896!

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