Believe in yourself

Quote from gnome:


Logic and discipline are the most important positive traits of traders.
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I agree that Logic and discipline are among the most important positive traits for traders.

I believe in myself that through Logic and discipline and other steps I deem necessary to acheive my goals, I will achieve them.
 
Quote from buzz:

on any rule set
The punter always thinks, he is smarter than the rule set althoug one must over rulethis somtiimes .like if a 18 ton lorry drifted in to your lane when you was driving you car,you say to your self i'm in the correct lane he should move out of the way.but in this case you must over rule you rule set.and move in the wrong lane to get out of the way.

As for the book think and grow rich by Napolian Hill its a great book and it on my shelf
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I agree that one must continually monitor the situation and if something occurs while monitoring that is unexpected, you must take the necessary action.

At some point though, regardless of your position in the driving lane, from prior experiences, when you see a truck drifiting in your lane, you take the necessary action to go around him rather than crash into him.

The Truck is the market that you have no control over, you jsut monitor the truck and take appropriate actions based on prior experiences.
 
Quote from Lights:

"... the great money is made off speculation and manifests itself from belief. a belief in the idea and a belief in oneself....
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Those beliefs are also at the root of most traders' destruction. (Oops, that's twice.)
 
Quote from tradingbug:

I had a hard time processing your post even though i think I got the gist. I have to agree that belief in yourself is one of the key factors to success.

I read a book called Think and Grow Rich by Napolian Hill.

A few points that I found helpful is extreme Desire coupled with Belief(faith) that you can and will accomplish your goals will manifest the accomplishment of your goals. The book also suggests cutting off all outs for yourself until the only thing you can do is succeed. While I find this step to be the hardest, I found that when I had hte chance to bail out and take a Invstment Banking job but chose to stick it out because i was obsessed with figureing it out is when things really came together.

Also, another movie that is entertaining and pertains to beliefs is a movie called What the Bleep do we Know? I have the dvd and give it away to friends because I believe that we are in the drivers seat of our fate. You may find it useful and enjoyable.

Lets take advantage of another opportunity to fulfill our goals in the new year.
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Good post. We are in charge of more than we think we are.
 
The barriers to success are internal but I would argue that behaviour modification is such a difficult thing that you must look for external ways to direct or modify behaviour. This has been on my mind. I can easily identify my weaknesses as a trader, too easily shaken out and take profit too early, but then again I am still solvent................

An example would be Livermore's insistence that you get in at the pivot point or not at all because it is near impossible to hold through the shakeouts and pullbacks unless you have that profit cushion from the initial markup. Looking back at some stocks that went up hundreds of percent in which I was out on a correction and never went back in I know what he means.
 
Quote from satchel:

But, imo if you do not have Confidence/Ego/Swagger you are doomed to be sliced and diced and posting repetitively in the psychology forum...
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I'm not sure I agree that confidence, ego, and swagger are all the same thing. I 100% agree that confidence is required to become a very successful trader. I don't agree that swagger is. I think of swagger more as OVERconfidence. IMO, swagger is a lack of HUMILITY. That can be very, very dangerous. The sweet spot between confidence and humility is the fine line I try to walk personally. At least that is the path that leads to where I want to go.

We are not all shooting for the same star, of course, and that is ok.
 
Quote from buzz:
.. Trading is a psychological game? ..
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No, its a game where you have to know intimately and accurately the market you trade in.

Mind fixes, psychological poses and cult thinking hubris do not amount to horsesh*t if you do not know sufficiently what you are doing.

The point is the market is there to be your killing field. Do all the problem solving needed, first .. unless, as is usual, it is beyond the 'wannabe' player.
:)
 
Quote from Cheese:

Mind fixes, psychological poses and cult thinking hubris do not amount to horsesh*t if you do not know sufficiently what you are doing.
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I agree totally... !
 
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