Did he also say something like, "In theory, there is no difference between practice and theory. In practice, there is."
one human room I am in made $2070 this week on 13 trades and over $3000 last week; don't need no stinking psychology for success and profitability which is according to my plan which can be seen, understood and measured.
Andrea, I started to not respond, but I changed my mind. After day trading unsuccessfully for about 4 years strong now, hmmmmm, I honestly do not believe a trading plan is that important. I am so sorry to say this. If it all it took was a trading plan, then we all be millionaires by now. A trading plan is useless if that trading plan is not profitable over x years or XXX to XX, XXX trades. The biggest a trader face (well atleast for me is) is one thing and one thing only and that is "Is what I am doing day to day for 8-12 hours a day will produce me money over time or am I wasting time and effort" This is just my opinion.
Dazz, I agree with you. Psychology does not help make money. It is a waste of time spending time on psychology. Measured week to week results is all that matter. Those results will Negative or Positive. If its negative, you not making money trading.
Dazz, I agree with you. And the trick is if a trader joins a room, the trader starts trading. After XX trades, total PnL is negative. He asks trade room leader "why am i negative". The leader says "you having drawdown". The trader spends the next 1 year in this trade room and developed very bad habits.