Hey Mike, Am really enjoying reading Hougaard's book after it was mentioned by someone in your what-are-you-presently-reading thread. I'm a very conservative futures swing trader and have always had difficulty risking more than about 1% of trading account value on any one trade. Lots of testing and considerations such as Kelly criterion and other optimal betting size calculations all indicate that I can and should be risking more, but it's hard to get out of the comfort zone. Hougaard's emphasis on aggressively pushing a positive expectancy strategy to get the most out of it convinced me to do more testing and then this past week I actually doubled the number of contracts on new orders. It's January and a good time to make a new resolution to be more aggressive... Btw, thanks for creating the presently-reading book thread. That's been a nice addition to the forum.
nope, hence Tradess instead of Trader (not that it is a word i would ever use in real life) Regarding to the initial post - happens to everyone I believe. With experiences, maybe you are able to recognize it earlier than later and step back. And I absolutely agree - Mindset is the most important part of the whole trading thing.
%% SOUNDs like his wife is supportive, she got another cat. I like feeding birds; but not as a distraction to trading or investing. Frankly, looks Mike R has more sense than blame trade errors on a cat or wife; especially since she got a new cat. Actually one could learn some good patterns from CAT ,birds or lions, but not as a real time distractions. Not a stock or animal tip Home offices can work well, but they require boundaries like anything.
As far as forex trading is concerned, thinking does include 95% because before actually executing any trade extensive research and planning are needed.
When you approach trading with a positive mindset, you are more likely to make rational decisions based on your analysis and trading plan rather than emotions.
You clearly took the wrong woman. Just like I did in my first marriage. Second marriage was exactly the opposite of the first one. She has no problems with my trading, has even no clue if I have a lot of money or not. She even does not understand anything about trading. She even tells me: don't care about a losing trade. The amount you will lose is negligible. In past you always recovered it fast. That's why I always liked East European women more .
My personal experience is that thanks to looking, trying, testing, and searching for knowledge, I became successful and consistent profitable.