#battlefield #calm before the storm #computer monitors #emotions #methodology #patience #robot #state of flux #temper tantrums
Much like patience, the successful trader exhibits a simple, unexcitable mood in the face of a market that is in a constant state of flux. There is no way you can have emotionless trading. It is impossible unless you turn into a robot. What is possible is to bring your emotions under control. While others panic, cry, throw temper tantrums (and their computer monitors), doubt their trading edge, etc. you remain calm in the knowledge of your simple rules based methodology. You know when to enter battle, you know how long you can stay in battle, how many resources you can commit to battle ($), and when to exit the battlefield.
#greed #jimi hendrix #mindset #new traders #playing guitar #profits #prospects #quick solutions #wealth building
One of the biggest problems I see new traders struggle with is the mindset that somehow trading can be approached differently from other ventures or activities. This is something which either comes from too much focus on the prospects of profits and easy wealth building (greed, in short) or from just not considering that it is an activity which requires skill to do well.
Trading is easy. I mean pointing and clicking to buy and sell is about at simple as it gets.
Playing guitar is easy too. Just pluck or strum. No one thinks they are going to pick up a guitar and become the next Jimi Hendrix, though. They know it takes hours and hours of practice to develop even a basic ability to play, nevermind getting to the point of having people pay to listen to you.
Why do people think that things are different in trading?
Good trading requires learning and practice – just like anything else you want to get good at. There are no quick solutions. Don’t expect them, and don’t let anyone lead you to believe that there are.
Only 5% Knows this Secret (Rest all Waste time ,Money ,Energy )
4 profound pieces of wisdom from Jesse Livermore.
#game #mathematical ability #mathematical basis #mathematics #memory #money #personal convictions #probabilities #probability #professional attitude #reminiscences of a stock operator #science #speculation #wall street
“A man can have great mathematical ability and an unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and the memory. And then, like the physician who keeps up with the advances of science, the wise trader never ceases to study general conditions, to keep track of developments everywhere that are likely to affect or influence the course of the various markets. After years of the game it becomes a habit to keep posted. He acts almost automatically. He acquires the invaluable professional attitude that enables him to beat the game – at times! (more…)
So True In Trading & Life …. What are success and failure
Don't overthink it, trust the price action
Work like someone is trying to take it all away from you
“Work like someone is trying to take it all away from you.”. Discipline and focus are required. When Mark Cuban bought the Dallas Mavericks, he opened up the phone book and personally called up former season ticket holders to win them back. “You’re not going to outwork me”, is Mark’s attitude.
profits economics financial markets Economy stock greed Anirudh Sethi futures contract finance emotions game losers Financial economics fear psychology stocks risk confidence discipline Investment india Business_Finance risk management successful traders Baroda stock market money losses dow jones industrial average trades