Very true. One thing the book "Reminicences of a Stock Operator" taught me (another story too painful to tell...) is when you "know" it, you got to go for it disregard what your wife said and when you "don't" know, tighten up and stay away.
Willingness to accept risk (and loss) = ability to make money is inversely proportionate to the pain inflicted upon oneself. Keep persepective and don't be too hard on oneself.
Agree 100%. In order to get consistent, you need to see each day, for the whole day, and eventually, if your perception skills are good enough, you'll be able to identify bullshit setups from good setups (daytrading perspective). Knowing how your stocks or markets trade, all the little nuances and details, is a must.
Good post. For me personally, this recquires being able to switch from fading to momentum based trading at the right times.