UnknownUnicorn27179884

UnknownUnicorn27179884

The fact is that if traders really believed that anything could happen at any time, there would be considerably fewer losers and more consistent winners.

UnknownUnicorn27179884

A typical trader is obsessed with the outcome of a trade. The professional trader is focused in the process of trading and letting the outcome take care of themseselves.

UnknownUnicorn27179884

So, you need absolutely nothing to experience a winning trade. Not even an edge. However, to experience a constantly rising equity curve, you may have an edge while keeping in mind that this alone won't assure you of consistency. What you need most is to think in terms of probability. There is a random distribution wins and loses for what you want will define as...

UnknownUnicorn27179884

There is a random distribution between wins and losses for any given set of variables that define an edge.

UnknownUnicorn27179884

“If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.”

UnknownUnicorn27179884

It's the ability to believe in the unpredictability of the game at the micro-level and simultaneously believe in the predictability of the game at the macro level that makes the casino and the professional gambler effective and successful at what they do.

UnknownUnicorn27179884

When I put on a trade, all I expect is that something will happen.

UnknownUnicorn27179884

If you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify patterns, define the risk, and determine when to take profits. The trade either works or it doesn't.

UnknownUnicorn27179884

When you operate from the assumption that more or better analysis will create consistency, you will be driven to gather as many market variables as possible into your arsenal of trading tools. But what happens then? You are still disappointed and betrayed by the markets, time and again, because of something you didn’t see or give enough consideration to. It will...

UnknownUnicorn27179884

Keep it simple. Simple time tested methods that are well executed will beat fancy complicated methods every time.

UnknownUnicorn27179884

Losing traders mistakenly believe that mastering the market itself is the key to winning. They fail to face the reality that the market can’t be mastered. You can’t control the market. What you can control is yourself and what you do in relation to the market’s actions. Winning traders realize this fact and put greater effort into mastering themselves and their...

UnknownUnicorn27179884

Your primary goal has to be to learn how to think like a consistently successful trader. Remember, the best traders think in a number of unique ways. They have aquired a mental structure that allows them to trade without fear and, at the same time, keeps them from becoming reckless and committing fear-based errors. The consistency you seek is in your...