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saying this could dissapoint some bulls on et... but many think the markets are overbought now. regardless, bulls could still be right and the markets can keep going up despite any bad data that keeps arising. :eek:

I'd have to agree. Great post for TradingGal... and 007 for re-affirming.

hmmm.... interesting. so if the OP doesn't make $6k in 6 trading days after lesson learned from you... will there be a full refund?

think it's safe to say that any trading system can lose more than once. LOL, right back at 'cha.

Xspurt... i'm not sure if your name stands for ex-sport or expert... i hope the latter. the other thing i am not sure about is if you read what i wrote too fast or if you simply did not perceive what i was trying to convey. guess your psychology was a bit off. what i meant was the project...

another thing I'd like to add that maybe doesn't have much to do with trading... imagine how a supercomputer (aka deep blue) was defeated by the world's top chess player. it's amazing how intuitive psychology and the human mind can be. it was only after deep blue was given so many software...

imo... think psychology does help. read about tiger who's game is usually up when there's pressure. yes, think he does have coaches, shrinks. Link from another thread: http://www.nydailynews.com/sports/more_sports/2008/03/16/2008-03-16_tiger_woods_entering_a_zone_where_few_at.html

To say that psychology has 0 to a few % to do with certain types of trading, I would have to plainly disagree. Setting up any kind of system requires complex psychology. For example, psychology says the longer a player stays at a blackjack table, the more chances the dealer or system will...

why look for Market Wizards on audio book when you can find a copy at a place like Amazon for a good price.

Also... if you depend on the luck of heads and tails... you can flip heads 10 times in a row. it's possible and it's always 50/50.

I thought machiavelli aka tupac was one of the hardest workers... that was why he was one of the best rap artists ever... creating so many hits making millions and millions... even after his past. that machiavelli ??

Seems like you're really looking at things from a systems point of view. Letting your system perform your entries, exits, and your strategies for you. Just setting up the system... and letting it run is all you need to do. You may not even need to watch CNBC or analyze any kind of news...

Remember the famous quote from Ed Seykota... one of the wizards: "Win or lose, everybody gets what they want out of the markets. Some people seem to like to lose, so they win by losing money."

Just curious... are you that Joe Trader you speak of.... and if so, it it really really difficult?

You sound humbled by mentioning your respect for Mindtrade and his thoughts. I also liked what you said about having 100% confidence in your own system... and if what Mindtrade says can help improve your effectiveness and efficiency... you may consider it.

Even the best free throw shooters miss at times. Think about all the thousands of shots they practice everyday... should be purely mechanical, shouldn't it? Just a thought.

I agree with this in professional sports. How could athletes who shoot and practice thousands of shots each day in basketball miss free throws when it matters? 1 - They can't mentally block out the noise. 2 - And most importantly, they keep thinking of the importance of a simple free...

I agree. Possibly a variation for each person... but I believe it.

I agree. Unless the system is completely automated, (and maybe even if the system is completely automated... I believe) there is still chance for drawdowns and losing streaks for the trader. It takes a lot in the area of psychology to keep trading despite the adversity. As for RN Trader...

I might have missed something... but does being humble mean being afraid to lose? Isn't a successful trader also defined by someone who is willing to lose and has the courage to keep trading with the desire to win?