DislikedI understand what you are trying to say my friend. But still, what use is a trained, skilled soldier seeing a full picture of whats going on in the battle field if he cannot pull the trigger when the time comes? No amount of training can help a soldier overcome cowardice. He has to face the demons within himself, by himself. Likewise, fear, greed, cutting winners too short, letting losers run too long, adding to losing positions, over-trading, entering trades out of boredom and for the thrill, terrible money management, etc are the true bane of...Ignored
as emmanuel posted already, knowing yourself only will not be enough. not knowing both, yourself and your opponent.... you don't have a chance.
knowing yourself and the opponent, you might have a shot.
here's an example of one of the greatest naval warfare in history that took place about 500 years ago in korea:
one of the campaigns led by a korean admiral, Yi Soon Shin, with only 13 ships with 200 men that were on the run against almost the entire Japanese fleet of about 300 battleships.
to cut the long story short, outcome of the battle:
japan: lost about 125 ships with casualties of over 12,000, including one of their admirals.
korea: no ships were lost with only 10 casualties.
why? was it because korean soldiers were superior in combat vs. japanese? well equipped? (they were on the run from previousely lost battle), or had confidence in themselves when they were outnumbered more than 1:25 ships?
my previous response was towards the subject of "not to master the markets, but to master your REACTIONS to the market."
you might wanna think about that a min.
below is little detail of that story:
"Admiral Yi located the 13 warships and rallied the 200 surviving sailors. Together with his flagship, Admiral Yi's entire fleet totaled 13 ships, none of which were turtle ships. In the belief that the Joseon fleet would never be restored, King Seonjo, sent an edict to Admiral Yi to abandon the warships and take his men to join the ground forces under General Gwon Yul. Admiral Yi responded with a letter written "...I still have twelve warships under my command and I am still alive, the enemy shall never be safe in the Western Sea (the Yellow Sea being the closest body of water to Hanseong)."
Emboldened after their victory at Chilchonryang, Japanese admirals Kurushima Michifusa, Todo Takatora, Kato Yoshiaki, and Wakisaka Yasuharu sailed out of Busan Harbor with a fleet of over 300 ships, confident in being able to defeat Admiral Yi. Elimination of the Joseon fleet would mean unrestricted movement of supplies and reinforcements from Japan for the offensive drive on land towards Hanseong and beyond.
After careful study of potential battlefields, in October 1597 Admiral Yi lured the Japanese fleet into the Myeongnyang Strait,[15] by sending a fast warship near the Japanese naval base and luring the Japanese fleet out of anchorage. The Japanese assumed that this was a Joseon scouting ship and the pursuing it would lead to the location of Admiral Yi, giving them an opportunity to destroy the courageous admiral and the remnants of the Joseon fleet. What they did not know was that they were being lured into a masterfully devised trap.
There were several reasons why Admiral Yi decided on this location for battle. Myeongnyang Strait had currents so powerful that ships could only enter safely one by one, of which the Japanese were unaware. The deep shadows of the surrounding hillsides provided the Joseon ships with concealment. The strait was sufficiently narrow that steel chains could be laid across its entire width, which Admiral Yi could use to restrict the Japanese fleet's movements. And given the narrow confines of the strait, it would prove impossible for the Japanese to flank or envelop the numerically inferior Joseon fleet. On that particular day there was also a heavy mist, dramatically reducing visibility in favor of the Joseon fleet. Therefore, despite being vastly outnumbered, Admiral Yi used terrain advantage to neutralize the Japanese navy's staggering numerical advantage.
The Japanese fleet of approximately 333 ships entered Myeongnyang Strait in groups. The unpredictable current immediately wreaked havoc on the Japanese; many of their ships collided with each other or sank outright while sailing through this strait. And the Japanese ships that made it through were met by 13 Joseon warships obscured by the shadows of the surrounding hills, ready with archer and cannon fire. The steel chains were tightened to restrict movement of the Japanese ships, and the Japanese found themselves unable to fight effectively against the superior Joseon archers and cannoneers. Admiral Yi was astonishingly able to rout a force that outnumbered him more than 25 to 1 in ships alone. About 33 of the 333 Japanese ships that entered the Myeongnyang Strait were destroyed, and 92 others were damaged beyond repair. Joseon losses on the other hand were around ten casualties and no ships lost. Kurushima Michifusa was killed on his flagship by Joseon archers; his body in its ornate armor was fished out of the water, his severed head was put on display to greatly demoralize the Japanese fleet."
source from: http://en.wikipedia.org/wiki/Yi_Sun-sin