But one of them was thinking trading was something which could be learned from books ( or any other informational medium). While offcourse books/websites can give a lot good information, ultimately you have to trade the market, not books. As a result I made some beautiful comprehensions of a lot of trader books, instead of studying the market itself. I didn't realize then that I was more polishing my editorial skills than learning about the markets and instruments.
One of my worst enemies are my own false assumptions
Last edited by Zwaen; October 10th, 2014 at 12:09 PM.
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I need to trade every day. I thought news and upgrades and downgrades made the market move, when good news would come out the market would go down and when bad news would come out the market would go up, so that confused me. I thought emotions were other peoples and not my own, had to learn what loss felt like, and to learn what winning felt like. I thought all I needed to learn was technical analysis. I thought I didn't need a written plan. I thought I would be banging out 50 million and driving my Lamborghini Aventador.
My thoughts now:
Donít listen to the news
Focus on my written trading plan and follow it
I donít need to trade everyday
Iím still working thru my psychology
"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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Exiting manually in the green before my targets were hit and taking a full stop every time the market moved against me. Doing this I'd have clusters of wins which amplified my ego making me think that all I had to do was cut my losers even shorter lol. This has got to be the number one most illusive part of trading I see just about every new trader make.
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