Same applies to trading. The trader has no control over market action. He only can control his reaction to market action and that's what determines whether the preserves and grows his capital or loses it.
Why? Because of how you reacted in the morning. Why did you have a bad day? A) Did the coffee cause it? B) Did your daughter cause it? C) Did the policeman cause it? D) Did you cause it? The guy needs to be compensated. He should get a trial lawyer. The police need sensitivity traing. Daughter obviously needs meds. The coffee cup should have come with a warning that it could be tipped over, do not use around children, etc. D) Did you cause it? What you talkiing about Willis, never accept responsibility, never admit guilt, never admit fault. Is the guy who wrote the article an American? Sheesh he needs to turn on the news once in a while.
It's a great article. I have recently come to similar conclusions myself, and while the concepts as discussed are simple to understand, they will take concious thought and diligent effort to implement. But when you do, you will find yourself gaining more and more power and control ... over your life. Jimmy Jam
In spite of my clowning around with my sarcastic comments about the current attitudes of people in general, it is a great article. The 90/10 priciple takes effort but becomes second nature in a short while. What makes it easy is this, you personally feel better when you react in a positive way repeatdly. You will attract more postive people/actions. Courtesy doesn't cost anything. I've never missed the time I've lost by letting someone go ahead of me in line.
I can quote you sources containing these principles going back thousands of years. But the more these principles are read and discussed the better. The REALLY tricky part is consistently putting them into practice!
Excellent article !! I bookmarked it for periodic reference............. Just like in Trading sometimes you can have a perfect setup and have all the probabilities for a successful trade in your favor. But the trade just does not pan out and it was nothing you had control over. So after this happens what do you do ??? You can either hold onto to the losing position and hope and pray and sulk some. Or go ahead and cut your losses and move on with your day. And remain positive and know that tomorrow is another day and another GREAT opportunity to realize some nice profitability !!
It really is a great article but people don't understand that it is a lot easier said than done. When placed in the situation you don't think of the 90/10 rule- only hind sight allows you to do that.