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Anxiety and future in the Traders life

  
  Education
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anxiety-disorderAnxiety is a future oriented emotion. You never will get anxious about events that have already occurred. Suppose we had been anxious about a trade but now it’s over with profit hit or stopped out. We no longer feel anxiety – only feel nothing, or satisfaction, or remorse, or disappointment, or sorrow, or some other past oriented emotion.

Anxiety communicate a message that there’s something in our future for which we need to prepare. This is a vital, a self-protection message. (more…)

Mastering the Trade, quotes by John F. Carter

  
  Education
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The quotes below are provided by John F. Carter, master day trader; pulled directly from his new book Mastering the Trade.

This may be the best quote of all:
“The financial markets are naturally set up to take advantage of and prey upon human nature. As a result, markets initiate major intraday and swing moves with as few traders participating as possible. A trader who does not understand how this works is destined to lose money”

“The financial markets are truly the most democratic places on earth. It doesn’t matter if a trader is male or female, white or black, American or Iraqi, Republican or Democrat. It’s all based on skill.”

“A trader, once in a position, can deceive himself or herself into believing anything that helps reinforce the notion that he or she is right”

“…professional traders understand this all too well, and they set up their trade parameters to take advantage of these situations, specifically preying on the traders who haven’t figured out why they lose”

“…markets don’t move because they want to. They move because they have to.”

“After all, the money doesn’t just disappear. It simply flows into another account – an account that utilizes setups that specifically take advantage of human nature.” (more…)

Game Over

  
  Education
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What I am saying is, the market is just a bunch of blinking lights on a computer screen. Up or down, good days or bad, your account is just a bunch of numbers. It is not life. It is not who we are. It does not define who we are. As Larry Miller once said, If you are healthy, if you have somebody who loves you, if you are able to get up out of bed in the morning and make your own coffee, the game is over — and you have won.

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