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Psychology and Money Management

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Millionaire in 10 weeks & Conversation with broker

  #284 (permalink)

Posts: 128 since Jan 2013

TraderDoc007 View Post
Merlin it is great you have come this far and you should be commended for having the tenacity and determination of trying to tame the beast known as “the market”. You have your market data organizer in the form of your indicator (possibly 20% of the puzzle), get your strategy together in the form of absolute rules that you NEVER deviate from (that’s maybe another 20% of the puzzle, but is only 20% when you are executing it flawlessly with no deviation from your rules that have been written down on paper) and the largest and most difficult part of the puzzle is controlling yourself and your mind which is 60% of the puzzle. The last piece is the most important, complex and challenging and is the piece that most unsuccessful traders can never master and I’ll try and explain what I think is a big reason of why they cannot master it.


I think you missed my previous long post I did here.

There is a reason why after losing my shirt back in 2005 that I have joined the TradeStation forum. It's because I KNEW that automation was THE SOLUTION to REMOVE the emotions and nervousness (basically stops you form being a frozen deer in the lights of coming car) part of the trading game.

Well, you will still be nervious but it will be your automated system that trades while you look at it. If you have programmed it well, it should enter EXACTLY at the entry point and exit you EXACTLY at the point you wanted.

TraderDoc007 View Post
You need to remember this, have this emblazoned in your psyche as this will be your life changing moment.

No need to remind me of the power and reprogramming power of the Subconscious Mind, I got 28 years of research on this baby. I literally wrote a book on it based on research done by great seeker of knowledge (Napoleon Hill, James F. Cullinan, Teri Mahaney). I have a forum with close to 50,000 post on just that topic.

TraderDoc007 View Post
So you have your first baby step successfully navigated (your indicator), now go and knock the rest out of the park.

Go tell that to a "baby trader". Do NOT confuse "new to the forum" with "new to trading".