“There are several concrete things you can do to grasp what part your emotions play in your trading success or failure. For instance, keep a journal of your feelings so that you can track your emotions and more easily see our progress or setbacks. By having this detailed written information, you can visually follow your progress, and your notes will help you more readily find solutions to your problems.
Another way to help manage your emotions is to share your feelings with others. By discussing your feelings about trading, you can hear, outloud, what you are really thinking and how it impinges upon or enhances your trading. Listening to others may bring to light similar underlying beliefs you may be fostering.”
Trading to Win, by Ari Kiev, M.D.
Another way to help manage your emotions is to share your feelings with others. By discussing your feelings about trading, you can hear, outloud, what you are really thinking and how it impinges upon or enhances your trading. Listening to others may bring to light similar underlying beliefs you may be fostering.”
Trading to Win, by Ari Kiev, M.D.
Another.... Thought for the day!
The past is the best guidance to the future. No matter we think about our emotions or our forecasts, what happens in the past is very likely to repeat itself in the future. Those who are distinguished and successful are those who track the past, make mistakes and misinterpretations, also look at other peoples' mistakes and misinterpretations and learn from those so they don't repeat them too often. This is true in all cases, trading or anything else.
Me....
The past is the best guidance to the future. No matter we think about our emotions or our forecasts, what happens in the past is very likely to repeat itself in the future. Those who are distinguished and successful are those who track the past, make mistakes and misinterpretations, also look at other peoples' mistakes and misinterpretations and learn from those so they don't repeat them too often. This is true in all cases, trading or anything else.
Me....
neil
Legendary member
- Messages
- 5,169
- Likes
- 752
Thought For The day
"Nothing in the world can take the place of persistence.Talent will not;nothing is more common than unsuccessful men with talent.Genius will not;unrewarded genius is almost a proverb.Education will not; the world is full of educated derelicts.Persistence and determination alone are omnipotent."
Calvin Coolidge
"Nothing in the world can take the place of persistence.Talent will not;nothing is more common than unsuccessful men with talent.Genius will not;unrewarded genius is almost a proverb.Education will not; the world is full of educated derelicts.Persistence and determination alone are omnipotent."
Calvin Coolidge
"Look at where people assign blame and you never hear them saying, "It's my fault because I didn't know how to trade," or "It's my fault because I bet too much." It's always, "You know, my neighbor gave me a bad tip" or "My broker gave me a bad fill," or "I walked away, I was in the bathroom and the thing collapsed on me," or whatever. It's always this outside locus of control thing. It's never "I was wrong. I am responsible." It's always "them" and "they." None of it is reasonable thinking."
Trading to Win, by Ari Kiev, M.D.
Trading to Win, by Ari Kiev, M.D.
"Tape reading was an important part of the game; so was beginning at the right time; so was sticking to your position. But my greatest discovery was that a man must study general conditions, to size them so as to be able to anticipate probabilities. In short, I had learned that I had to work for my money. I was no longer betting blindly or concerned with mastering the technique of the game, but with earning my successes by hard study and clear thinking. I also had found out that nobody was immune from the danger of making sucker plays."
Reminiscences of a Stock Operator by Edwin Lefevre.
Reminiscences of a Stock Operator by Edwin Lefevre.
“Gut feeling is very important. I don’t know of any great professional trader that doesn’t have it. Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.” [Michael Marcus]
Market Wizards, by Jack Schwager.
Market Wizards, by Jack Schwager.
"There are numerous similarities between the serious trader and the serious gambler. In the casino, the difference between the winner and the loser is that the former leaves the table when he has reached his goal for the session, and the latter leaves when he has lost his stake. Most gamblers, like many traders, don't realize that the only way they can stop gambling is by losing."
The Mind of the Markets, by F. J. Chu.
The Mind of the Markets, by F. J. Chu.
Thought For the Day
"As absurd as it sounds, some traders are more motivated to lose than to win. Why would someone want to lose? Most of the time it comes from an unconscious fear of success. Familiarity with losing keeps these traders doing things that are contrary to what the tape and current experience are telling them to do . . . Do you get into no-win positions too often? Do you know the difference between a good and bad trade? Do you know how bad your bad trades are? How good are you about getting out of bad trades? Do you compound your mistakes by holding on to losing positions? Why? Do you think things will reverse? Are you able to trade independently of your own prior experience?"
"Ask yourself these questions to see if you are among those caught in the motivated-to-lose bind. The purpose of these questions is to encourage you to identify your current, perhaps subliminal trading patterns so you can correct them."
The Undergroundtrader.com Guide to Electronic Trading, by Jea Yu.
"As absurd as it sounds, some traders are more motivated to lose than to win. Why would someone want to lose? Most of the time it comes from an unconscious fear of success. Familiarity with losing keeps these traders doing things that are contrary to what the tape and current experience are telling them to do . . . Do you get into no-win positions too often? Do you know the difference between a good and bad trade? Do you know how bad your bad trades are? How good are you about getting out of bad trades? Do you compound your mistakes by holding on to losing positions? Why? Do you think things will reverse? Are you able to trade independently of your own prior experience?"
"Ask yourself these questions to see if you are among those caught in the motivated-to-lose bind. The purpose of these questions is to encourage you to identify your current, perhaps subliminal trading patterns so you can correct them."
The Undergroundtrader.com Guide to Electronic Trading, by Jea Yu.
" When I've observed other traders, the best ones are always aggressive. They don't even think about the trade, they just do it. And that's a trait that I really admire. But the thing is, they're aggressive and they take care of their capital. They're only aggressive when they perceive a good opportunity. As soon as the opportunities disappear, or if they're losing money, then they stop. It's seems like a kind of a switch that they can turn on and off, which I think is a really good thing."
Trading to Win, by Ari Kiev, M.D.
Trading to Win, by Ari Kiev, M.D.
Similar threads
- Black Swan
- General Trading Chat