The One Great Quality In Successful Great Traders!

Discussion in 'Trading' started by tradingjournals, Aug 16, 2010.

  1. To judge yourself not on how much money you made today, but on how well you traded today.

    The following comes not from a trading book but from a poker book by Dusty Schmidt, who is a very good poker player.
    http://www.pokertableratings.com/stars-player-search/Leatherass9
    http://www.pokertableratings.com/fulltilt-player-search/Leatherass9

    Just replace the word 'playing' with 'trading':
    - How well you played overall
    - Quality of your thinking
    - Quality of decisions
    - Number and size of mistakes
    - Quality of focus ('the Zone')
    - Length of time spent focused and playing well
    - Length of the session
    [the two above are probably not relevant to trading]
    - Ability to manage emotions, focus and thinking
    - Ability to work through a tough mental or emotional spot
     
    #21     Aug 17, 2010
  2. nicbizz

    nicbizz

    Better to be late than too early (i.e. wait for the damn signal to finish forming!)
     
    #22     Aug 17, 2010
  3. 1) Have a well thought out plan

    2) Have the discipline to follow the plan!!
     
    #23     Aug 17, 2010
  4. A combination of

    1) Not caring about the results of individual trades I.e. Proper trade sizing

    AND

    2) Believing (correctly) in your edge. Personally, I think this is the big one.
     
    #24     Aug 17, 2010
  5. i.e. How to manage your Egde correctly in the long run!

     
    #25     Aug 17, 2010
  6. Celine

    Celine

    I guess you are checking my emotions ;)
     
    #26     Aug 17, 2010
  7. I agree here, manage egde correctly is the one
     
    #27     Aug 17, 2010
  8. any experiences or methods (including legal drugs) for controlling ADHD?
     
    #28     Nov 1, 2010
  9. aloof


     
    #29     Nov 1, 2010
  10. NoDoji

    NoDoji

    Ego reduction
     
    #30     Nov 1, 2010