I say... "Trading psychology is misleading. It's only viable to the discretionary traders who, actually, has the skills to utilize it. Most of the guys in ET should be concentrating on acquiring the knowledge and skills to make money." Now... people bring stories about Tiger and MJ but they've trained hard to acquire and maintain their underlying skill. I don't deny the aspect of psychology to "peak" their "acquired" skill during the game... But most of the guys don't have the skill required to maintain a living as a trader. So... before you start all the bashing... 1. At what point can you acclaim that you have the necessary skills to consider psychology as an option? 2. I can imagine people saying, "When you have an edge." as an extension to Q1..... Markets always change regardless of systematic or discretionary trading. So how is perceptiveness and psychology related? Isn't perception more important... more-so isn't all this conclusion about psychology, actually about perception (alertness towards perception is one thing... psychology "control" is another...)? 3. Trade management may... be... the key. But in reality "Risk management" is a protective delay for you to realize that your so-called "edge" sucks. You need to be "in-sync" with the market to make money. So let's keep that out of the picture... Though... RISK is very important in this business... more than anything... so... What is risk? How is that applicable to psychology? Are you as a trader, a risk of it own? There are great discretionary traders and I personally do fairly well trading discretionary... so this won't be the case (for me... at least).... 4. Do you run a red light? Unless you're drunk / high and perceptively impaired, most people don't. So what's the difference between a red light and an undisciplined trader? Don't get me wrong, again, I don't mean to push systematic trading as some grail. I see patterns and trade them from a discretionary point of view (My trading models/systems are dealt with separated from my discretionary trade execution. I don't do signal pickings or grey box unless it's intended as a grey box model.) --------------------------------------------- Anyways... I have all these anti-"Psychology" thesis and I'm waiting to prove that "psychology believers" are BS. Please answer my question for the discussion sake. And don't take snippets of quotes and questions. Answer them all for the whole content... Thank you in advance.