Is 'Positive Mental Attitude' motivation good for a trader?

Discussion in 'Trading' started by MainFramer, Jul 8, 2002.

  1. i agree w/ gnome

    best trader combo is long run confidence/ short term indifference
     
    #11     Jul 8, 2002
  2. dis

    dis

    "Positive mental attitude" is a prerequisite for averaging down. :)
     
    #12     Jul 8, 2002
  3. Positive mental attitude and hope are two different things.
     
    #13     Jul 8, 2002
  4. Best yet.

    you have to have a winning percentage of trades in terms of the amount of winners vs. losers. figure out where to enter, where to exit (win or lose) and based on those numbers you need to be making money(positive expectation). THEN you need the money management to execute the trades as your system (regardless of your system) tells you to. IMHO

    You will need to have a good enough mental attitude to follow through and if you can get that far you should have an easier time maintaining that PMA even when losing streaks happen

    Best of Luck!!
     
    #14     Jul 8, 2002
  5. Keep your emotional highs low, and you lows high if that makes any sense.....

    Generally dont get too high or too low, try to stay unemotional, unbiased, and objective.

    And trading while the other kind of high will only lead to red!
     
    #15     Jul 8, 2002
  6. I agree with the ideas that indifference in the short term is the best strategy coupled with longer term confidence..After all, you want to be confident that over time you will win, but you do not want to put all your faith or hope in each and every trade...
     
    #16     Jul 8, 2002
  7. whatever keeps you going. I try to keep a 'truthful' attitude.
     
    #17     Jul 8, 2002
  8. so true...
     
    #18     Jul 8, 2002
  9. I was just going to add before I saw your post that I try to maintain a subdued confidence - not too high and not too low. The confidence helps when losing - helps you know you will pull your way out, and the subdued part helps when you are winning so your head doesn't get too big. Whatever the good emotions for trading they are the ones that are more subdued.
     
    #19     Jul 8, 2002

  10. you mean like this subdude?

    [​IMG]
     
    #20     Jul 8, 2002