Discipline...

No amount of discipline is going to help if your strategies are wrong.

 

Me too, I think I'm comprehending around 85% of Harry's post this time.

 

85.000%

 

Candletrader ....... your too funny


A skillfull trader is like the Shuai-Jan, a snake found in the mountains. Strike at its head and you will be attacked by its tail. Strike at its tail and you will be attacked by its head. Strike at the middle and you will be attacked by both...

Like the Shuai-Jan, a skillfull trader is prepared for all eventualities...




Shoot the damn thing and you got dinner to boot

 

So true - some discipline problems are really method problems, or maybe just the problem isn't the discipline in all cases.

If your method is a net loser and you have iron discipline it will be a slow bleed. (consistent losers)

If you have a net winning method and you have poor discipline, you can also lose big. (wild equity swings)

So someone who is losing can empirically look at the shape of their results to tell which of the above is the likely cause of their losses, and then tackle the largest problem for them.

 

Because:
"Someone once said that authors write books not to be understood but so that they themselves understand."

Kraig Brockschmidt
in the preface of the famous "Inside OLE2"


(btw available online - only for C++/Win32 programmers
I read the 1st version of Inside OLE nearly ten years ago and I didn't understood the 1st time
http://www.ncst.ernet.in/education/apgdst/comfac/Books/Inside OLE.zip

<IMG SRC="http://www.econometric-wave.com/inside_ole.gif">
)

 

I like Harry the old way....more of a challenge..

Grob is an excellent read too....Seriously

Michael B.

 

I think Harry's English writing style has changed to meet the taste of his wide readership.

 

We are darn lucky that we have Harry as kind of a backup for Grob. G & H are a truly great read.

nononsense

 

I have found that one way to improve discipline is to keep a journal. In my journal, I have a section where have written down a specific daily routine. I know the routine works and I grade myself at the end of each day on how well I have kept to the discipline. My comments include diet, exercise, preparation to trade, logistics and emotional content that may affect my trading. I notice that it does not keep me from making mistakes, and it does not keep me from failing periodically in some areas, but for some reason it does encourage me to get back on track quickly, and since I have started to keep the journal, my profitablility has improved significantly. Hope this is of some assistance. Best Regards, Steve46