Mark Douglas says that the line between successful traders and unsuccessful traders is in how they think. As a successful trader, what do you think about before, during, and after a trade?. If Douglas is right, there's something going through your head that WASN'T there before that made you profitable...so what is it?...I'd like to know, because all I think about is trading as a result of having little of a life outside the stock market, but my thought process is obviously "wrong". cm
"what do you think about before" It's going down! "during" I was right! "and after a trade?." Good riddance! Seriously though, this is impotant to think about and will do so, but not right now.
someone once told me that our perception is our reality remember that cashmoney 69 if you believe that you need a really COOL indicator to make money, then that is your reality if you decide to at one point to believe that you only need OHCL data to make money that TOO will be your reality I hope I made it clear.
since ET consists of a large number of new traders that are not yet profitable I want to write little bit about that you see, sometimes a smart ass is born, whatever this little proto-human wanted to do he could. I could only watch in amazement, this is how I learned that we are not all born equal and the same I realized that I could also do everything this proto-human could, the only difference is that it took 10 times more work, energy and time. if you are a struggling trader, you must realize that perhaps nature has been cruel to you, BUT practice makes perfect
"what do you think about before, during, and after a trade?." Well Cash, sounds like your hot on the trail of discovery. You ask,"What do you think?" Better yet, get out that blank sheet of paper and write down everything you know about what you think, before during and after. You'll be reading our thoughts that are posted, This is ok, but these are someones elses thoughts, discovery in the market is about YOUR thoughts and sometimes confiming what you know along with what others think and how you and where you fit in this puzzle. Confimation after the fact is better to see if you are on the right track.
===================== Cashm; Professional [positive attitude] is very important, but not near as important as diligent execution. %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% And by execution ,not just limit orders, even though limit orders are mentioned favorable in Way of the Turtle, by Curtis Faith. Execution includes work habits; plans of the diligent tend only to advantage-Solomon,trader king.
How do you think? When the market is up, you think, ooh, I gotta get out before I lose my money! When the market is down, you think, ooh, I hope it drops a bit more so I can buy cheaper! There are exceptions for every situation, but if you THINK that way, then you will no longer fear the crashes and you will no longer buy the highs.
How does one think? A good question indeed. Everything around us was created by the power of thought. Yes, thought is the tangible power which creates and destroys. A better question would have been How does one think correctly ? No one can give you the answer, it will come from within. The process of discovery, is the discovery itself. However, the first step, which is the key step in the process of how to think correctly, is to calm down the monkey mind.
"Mark Douglas says that the line between successful traders and unsuccessful traders is in how they think." Not sure what this means. It is a phrase that doesn't say anything. If you have an edge you can exploit, you are thinking of maximizing that edge. If you don't have an edge, all the positive thinking in the world won't help. You will be positive-thinking your way to bankruptcy. If the statement is meant to be didactic, it is circular.