Your Trading Mindset

Discussion in 'Announcements' started by Andrea Wylan, Feb 5, 2020.

  1. Andrea Wylan

    Andrea Wylan Sponsor

    Hi traders. I wanted to say hello. Its been a while since I commented on the topics here, and just recently joined as a sponsor for Psychology.

    I look forward to commenting on relevant posts and lending support where I can on topics related to your mindset, discipline, and supporting "structures" for traders such as trading plans and risk management.

    Mindset is hugely important, and I will be adding my comments occasionally to support.
  2. %%
    Are you a sharp shooter??[Andrea Article Asks] Sure, I enjoy target shooting ,safe shooting. Like Dr Van Tharp says, dry firing helps also. :caution::caution::caution::caution::caution:I never shoot the song birds that enjoy my bird feeder. But like the UK fund manager told Jack Schwager, ''don't run out of bullets, because then the elephant walks by''
  3. it's all short term GAMBLING
    murray t turtle likes this.
  4. %%
    WELL there are similar patterns;
    as kids we used to gamble for quarters, in the pool hall-commissions were to high to trade much. And IBD founder said ''don't quibble over quarter + miss the move'' which is a great rule+ great order. A lotto is a stupid tax on people that cant do math; profitable trading/investing is not like that @ all......................................................................
  5. zdave83


    Driving your car is gambling with your life.
    Buying a house is gambling with your finances ... that it won't have a structural problem later.
    Traveling to China, right now, is gambling with your health.
    Visiting a friend at a hospital is gambling with your health.
    Standing on a street corner is gambling with your life.

    It's easy to classify any type of risk taking as "gambling".
    Handle123 and d08 like this.
  6. Would you agree that the best mindset and optimum beliefs are worthless in the absence of a profitable trading methodology/plan?

    Equally - may it be true the other way around that a profitable and reliable trading methodology enforces good beliefs and a good mindset? :)

    Psychology is important and very interesting, but I feel that many people should focus more on their actual trading systems first.
  7. d08


    To me gambling means something where we have no basis to believe in success. Rolling the dice is gambling. Buying stocks on gut feel without proper market experience is gambling. That tells you what @buttermarket is talking about. I suspect he suffered big losses recently, so he is lashing out.
    murray t turtle and zdave83 like this.
  8. themickey


    To me gambling means something where we have no basis to believe we are predominantly right.
    murray t turtle likes this.
  9. %%
    Hopefully Andrea W will answer that also.
    I agree ; a profitable plan enforces good belief + good mindsight. But to profit on that plan , most thinking people would have to believe there is a reasonable chance of success . Good points, LF. Its not rocket science; old turkey [nickname ]said ''it's a bull market you know''[ Many don't even know its a bull market.............................]:caution::cool::cool:, :cool::cool::cool::cool::cool::cool::cool:
    Handle123 and Laissez Faire like this.
  10. Andrea Wylan

    Andrea Wylan Sponsor

    Yes, you need a trading system that works, that you have learned how to trade. I think it should be in writing in a trading plan and fully spelled out. Ideally traded with the simulator and when that is working to start to go live. I see it best as going in steps. And, this takes time (and patience).
    #10     Feb 7, 2020