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According to Baumeister, The psychology of irrationality: Why people make foolish, self-defeating choices (2003), he concluded his survey with the following findings: 1. Under emotional distress, people shift toward favoring high-risk, high payoff options, even if these are objectively poor...

Have you studied any of Mark Douglas' work?

"I have heard of many having a trading plan, just like a business plan, and others that have done very well without any written trading plan. How many here have one? If so, care to share a portion of it?" Why are you asking this question?

If the market's behaviour seems mysterious to you, it is because your own behaviour is mysterious and unmanagable" "There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions."

"The more sophisticated you become as a trader, the more you will realize that trading is completely mental. It isn't you against the markets, it is just you"

Thanks

Has anyone found a way to make a suggestions for future improvements?

12-31-05 06:16 AM -------------------------------------------------------------------------------- Quote from steve46: Hello Folks: There are a lot of traders (or wannabee traders) who think that there are no rules, everything goes. There is an underground industry of ET members...

text this topic belongs to 'Chit Chat' Learning more about how the people taking the other side of newby trades think is chit chat?

On the great thread “Where does everyone live/trade and how old.” I was amused to read some opinions of traders who thought of themselves as pro’s. As there is probably nothing new in the markets I would love to know what old pro’s (e.g. day trading longer than 7 years) read on the...

Agree. Always assuming you've first done all your study, work and training to know your market. Nah, I am past that stage now. I just use my trusty dartboard and blindfold :) Why waste time analyzing the mkt when you could be out skiing

PS, any opinion will cloud your trading. The talking heads on CNBC etc are salesman/saleswomen, the guests are there to SELL you their products. There is no such thing these days as unbiased information from the tube, it is infotainment or flat out sales pitches. Like whats his name; Ned Reiley...

Cool post and good thread Thanks

Consider that you may need prozac if you are clinically depressed. Sounds like it may be a posssibility

The important point is that everything on Bloomberg / CNBC is already in the price. Just my opinion. T They may be worth it for entertainment value though. That's how I feel. I mean what are you expecting to get out of the news? Long term or short term moves? If you think it is short...

Grob 109 what time frame are you trading?

This is a very difficult issue IMHO. The problem I think is that obviously it is difficult to trade when you are sick, getting divorced etc etc. However, when you start listening to “intuition” especially after a bad previous day, your “intuition” may direct your thoughts thinking...

Quick question: What do you guys recommend drinking to start your days? I've got a real love for this business though I'm experiencing stomach pains as a result of the stress associated with it. I wouldn't trade it for the world though I would like a little reduction in this pain. Should I...

YOu will find out it is a bad day at 3.59

"Patch, I do a weekly printed trading report of all my open and completed trades, I whack in weekly and daily graphs with notes and write down the details plus a written summary of how I performed on that trade and notes for more homework I need to do and areas I might improve, it comes out at...