Thought For The Day

flea

Active member
160 22
"A professional athlete before a top game more often than not will say, 'If you're not nervous there is something wrong.' One has to have self-doubts. Maybe some are less likely than others to admit them to others or to themselves. Others are more self-reflective. ...

"When you go through a losing streak, all the self-doubts come out and you do get very reluctant to pull the trigger. There is nothing you can do that is right. Just every single thing you do is wrong. That is something you just have to learn to control. You really have to learn how to control that fear. You have to feel the pain of a bad trade or a wrong trade. If you don't, and are numb to it, then it's over. So you have to know what it's like to feel pain, but you can't be afraid of it ."

-Alpesh B. Patel, Financial Times columnist and author: The Mind of a Trader
 

dojistar

Member
71 1
Flea I recently read Trading In The Zone by Mark Douglas
and it was one of the best books I have read.
Mark Douglas has been a Trading Psychology Coach for about 20 years,I recommend it to anybody who hasnt read it.
Doji
 

flea

Active member
160 22
I couldn't agree more Doji, I thought it excellent too.

In my opinion too many traders spend too much time, effort and money trying to find the perfect system, I feel it's mainly a pshycological game whereby we play probabilities. After all no system can possibly know what the future holds, we're only making a guess based on whats happened in the past.

We place our bets and the market tells us whether we're right or wrong. if you're right, great, but if wrong cut it, don't try and tell the market it's wrong because the market doesn't care.

Regards
flea
 
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