THE THINKING TRADER 12/18/2009
Source: http://www.thecrosshairstrader.com/2009/12/the-thinking-trader-12182009/Posted on Friday, December 18th, 2009 | In Investing Lessons, Market Commentary, Trading Lessons
Losing is what trading is all about: “Win the war, not every battle. Put on individual trades which have sensible risk/reward, but place emphasis on your overall operations rather than each individual effort. Basically, see the forest and not just the trees! Accept that there will be some some losing trades, perhaps frequently, depending on your timeframe, and aim to overcome them with larger or more frequent winners. The point of taking this step is not to go to battle with every trade due to the mindset of having to be correct. Accept it when you are wrong, and no single ‘battle’ will ever sink your ship.” (Stock Bandit)
Dr Brett speaks my language here as he discusses transitioning from daytrading to longer style trading (which I prefer). Higher probability opportunities and freedom abound in this style of trading. My sentiments exactly.
This one I stored up for a while (it is from November) but it makes you aware of how difficult trading can be, even for the “professionals”. Bottom line: you should adjust your trading strategy to mirror the market reality.
Mistakes we make when trading: there are so many but here are a few worth reading with some ideas about how to deal with them.
Economic forecasting is for the Spanish! Just read here and you will understand.
Zen Habits for the holidays in less than 350 words.
Effective methods for stop losses…just pick one.
Post from: The CrossHairs Trader
THE THINKING TRADER 12/18/2009
Related posts:
About David Blair (http://www.thecrosshairstrader.com/)
THE CROSSHAIRS TRADER focuses on the most important tool at the technical trader’s disposal: the mind. From experience, I truly believe that no trading system-or edge-will ever consistently provide profits unless the trader learns the thought process necessary to make it work. A trading system is only as good as the trader utilizing it. Get your mind right and you will trade right. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.
ContextLinks Code: