"If a trader hasn't neutralized his susceptibility to give his winnings back to the market, then he is not what I define as a successful trader." Mark Douglas, Trading In The Zone
"When you are in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading helps achieve that goal." Bill Lipschutz
Experience has taught me that interest begets expectation, and expectation begets disappointment, so the key to avoiding disappointment is to avoid interest. A equals B equals C equals A, or⦠whatever. - Georgia Lass You don't get to control any outcome, only every choice you make along the way. - Stephen Paul It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. - Charles Darwin You cannot teach a man anything; you can only help him to find it within himself. - Galileo Knowing is not enough; We must Apply. Willing is not enough; We must Do. - Goethe We must all suffer one of two things: the pain of discipline or the pain of regret or disappointment. - E James Rohn You have to learn the rules of the game. And then you have to play better than anyone else. - Albert Einstein "if you are first in the days of sorrow, you will be first in the days of happieness, and that's tomorrow" - anonymous i am trying to convert myself into what quote #1 is saying. and that quote was from a short lived TV series you guys might enjoy.
"When you are in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading helps achieve that goal." Bill Lipschutz
My favorite trading quote is as follows: "Don't touch F1, I have it programmed to...I said don't touch that.....no, NO, Noooo!!! Dammit.... What is wrong with you!!!! This quote from my mentor more than 13 years ago, as I "inadvertently" bought 30 million in what used to called "D Marks". The trade actually resulted in a small profit.... Thank you and thank you George wherever you are, for not firing my ass. Steve.