Thursday, July 21, 2011

Got an email from these guys (tradethemarkets.com) says:
 
"There are several key successful trader characteristics
that you need to develop:
Discipline
Limit distractions
Stick to your trade plan
Control over emotions
Time & Focus"
 
My observation is that most egostistical traders don't adhere to the "control over emotions", incessantly swear and curse at every market move. Don't let yourself feel like a LOSER even though at the end of a trading day, you end up with profit. It is not a good way to live. 

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1 Comments:

At 8:52 AM, Blogger Tokan Corner said...

well what to do..sometimes EMOTION control everything event lots of experienced traders lost when grasping on "Hope" and run like everything going to end ( Panic Seller ). Moral of the story..that is the human nature...we can only control it and make decision..either it was wisely or not :- Regards >> tokancorner.com

 

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system