Category Archives for "Trading Discipline"

Learn from your Trading Mistakes

Learn from your Trading Mistakes Success in Trading is 80% Psychology and 20% Methodology If the perfect trading system was published on the front page of The Wall Street Journal, 10% of the people trading the system would make money while the rest would still lose money. Why is that? Learn from your Trading Mistakes […]

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Overcoming Fear and Greed

Overcoming Fear and Greed We all have to deal with our runaway emotions at various times in life, and these emotions really begin to run away when we trade. Trading is the clearest window into your own personal psychology, clearer than any other endeavor. Let’s begin with the markets themselves, and with fear and greed. […]

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Poker – Day Trading? Trading Probabilities Not Possibilities

Poker and Day Trading.  Trading Probabilities not Possibilities Warren Buffett once said: “I am a better investor because I am a businessman, and a better businessman because I am an investor.” I feel the same way about trading. I am a better trader because I am a successful poker player and I am a successful […]

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Take Your Excuses and Go Find a Job: Why Day Trading Gets a Bad Rap

Caution: DO NOT READ THIS IF YOU ARE SENSITIVE   1. “I don’t want to exit and take my loss” Excuses, failures, excuses Poor baby. All big losers started as smaller losers. You need to define the entry point in advance, as well as the exit point and the target point. KNOW YOUR PAYDAY:  Make sure […]

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