The Key to Trading Well

Discussion in 'Trading' started by jreynolds212, Feb 2, 2008.


  1. classic !

    tyvm
     
    #31     Feb 4, 2008
  2. Presumably you are noob or wannabe. You don't even know enough to know what you need to know.
     
    #32     Feb 6, 2008
  3. You are talking about not really knowing what you are doing so for you & others the latch keeps moving.
     
    #33     Feb 6, 2008
  4. You're a loser, you post like a loser and you trade like a loser

    You are my bread and butter
     
    #34     Feb 6, 2008
  5. ssblack

    ssblack

    If the cat farts in the cage and no one is around to hear it, does it make a sound?
     
    #35     Feb 6, 2008
  6. u21c3f6

    u21c3f6

    The secret is:





    There is no cage!!!

    Joe.
     
    #36     Feb 6, 2008
  7. Probably every cat can locate the latch of a cage, however only a few are able to unlock it.

    :)
     
    #37     Feb 6, 2008
  8. #38     Feb 6, 2008
  9. 322170

    322170

    Probably every cat can locate the latch of a cage, however only a few are able to unlock it.

    This is what they will try and tell you. It's called the psychology of trading. Which I disagree with. I believe trading is

    60% system
    30% Money management
    10% psychology

    Think about it .. Once you have a system that you've back tested and understand it's capabilities and limitations, Where's the psychology?

    I) based on your trading system you know when to enter a position.

    II) You automatically place your stop immediately after entering the position
    so the risk/ loss is already defined.

    III) The only thing left to do now is to manage the profit , assuming the position should move in your favor. This is the psychology of trading or the BIG greed factor.

    I hope this example clearly shows you that the most important thing you need in trading is a winning system and the discipline to follow that system.

    Van Tharp and others stress it's all about the pschology because that's what sells. You can search yourself up and down mentally trying to improve your defects of character but it won't help you develop a system or method.

    Unfortunately this takes hour and hours of work back testing and future testing etc... as everybody knows Trading Without a system is like trying to drive a car without a map.

    Trade wisely,

    322170
     
    #39     Feb 6, 2008
  10. Psychologically, it helps me to think that the market's only job is to fake me out, lead me down the garden path, and separate me from my money. It is my job to stay strong, focused and disciplined and beat it at its own game.

    Douglas' book "Trading in the Zone" says don't develop an adversarial relationship with the market, but I think that's bologna. There's a lot of people out there trying to take your money. You have to take theirs instead.
     
    #40     Feb 6, 2008