DislikedLol, one of the classic George Best quotes.Ignored
How do you deal with your losses? 87 replies
DislikedEarly on I realized that trading is 90% mental, the other 10% is in your head. Cliche, I know, but never the less it is true......Ignored
DislikedIsn't confidence a psychological issue ;-)Ignored
DislikedI believe psychology to be the most important aspect of trading. .......Ignored
DislikedI think he possibly contradicts himself though.....
Compare "Myth #2: Anyone, with dedicated effort, can get to the point of trading for a living." with his later comment "It takes concerted practice and the cultivation of skills at reading and acting upon market patterns."
The first statement seems to suggest that successful traders are born rather than made; the latter that one can get there with sufficient practise. Even after re-reading the article, I don't think I'm quoting him out of context.Ignored
DislikedHence I agree with 300%mark that mechanical strategies are preferable, provided that they have the intelligence to discern genuinely profitable trading patterns. Mechanical systems have the additional benefit that they can be objectively tested.Ignored
DislikedI think he possibly contradicts himself though.....Ignored
DislikedHence I agree with 300%mark that mechanical strategies are preferable, provided that they have the intelligence to discern genuinely profitable trading patterns.Ignored
Dislikedbut one thing that i can't understand is people that use Tradestation, Metastock or any other software to test they systems and then trade it manually... If the system can be tested, it is mechanichal, if it is mechanichal why trade it manually??? I really can't understand this. Merlin said that even if he has a mechanichal system he prefers to be there to push the botom... i can't understand it.Ignored
DislikedThe human brain is the most sophisticated instrument you will ever own. Banks and the serious big hitters have pumped billions and hired some of the greatest mathematical minds to develop models that outperform the markets and as far as I know they have not succeeded.Ignored
DislikedBy all means automate, but automate your most powerful computer.Ignored
DislikedIn any case, does it not take the same amount of mental discipline and faith to take a computers signals as it does to take your own?Ignored