On Trading Psychology
From BMT, courtesy from user : TennisOrDie Last week I had the best trading week of my life. I finally dug myself out of the hole I created and was positive for the year. Guess what happened this week? Lost. It. All. Did I lose it because my system failed me? No I lost it all because I was overconfident and careless. I thought I knew what I was doing now. I thought I could just go on cruise control and let the money print itself. Wrong, wrong, wrong. There are a million different systems and most of them will generate a profit depending on the trader. It's not the system that makes a difference, it's the piece of meat in between your ears that's going to make a difference. Your mind is the cause and solution to all your problems. The more I trade the more I realize the importance of psychology in trading. This is a game of who can make the most money and KEEP IT. Yes you'll lose money sometimes because your system was wrong. But most times you'll lose money b...
