Trading is the most difficult of sports: nowhere else does one begin a career by opposing the world’s most accomplished professionals.
Extreme trading size produces extreme emotional outcomes, leaving traders with certain trauma or addiction.
A universal trade setup: Hope, then despair.
Fidelity to purpose: the mark of good trades and great traders.
Mentors cannot achieve more for you than they have accomplished for themselves. (more…)
Archives of “self betrayal” tag
rssGreat Traders: Five Distinguishing Features
* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.
* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.
* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.
* Great traders focus on the two things they can always control: when they play and how much they bet.
Life and Markets
Respect is the first casualty in lost love.
Four industries dominate the economy: hope, escape, protection, and convenience.
Success is the point at which talent and skill meet opportunity.
The aim of all trading education: to encourage trading.
The printing press democratized the acquisition of knowledge; the computer has democratized its dissemination.
Date markets before deciding to marry them.
Anatomy of a bad trade: Hope, then despair.
Love, once present, never dies. It must be killed. (more…)
Great Traders: Five Distinguishing Features
* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.
* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.
* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.
* Great traders focus on the two things they can always control: when they play and how much they bet.
You will never achieve greatness by minimizing your weaknesses. At best that will bring you to average. The path to greatness lies in maximizing strengths: becoming more of who you are when you are at your best.
Great Traders: Five Distinguishing Features
* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.
* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.
* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.
* Great traders focus on the two things they can always control: when they play and
how much they bet.
You will never achieve greatness by minimizing your weaknesses. At best that will
bring you to average. The path to greatness lies in maximizing strengths: becoming
more of who you are when you are at your best.