there are five causes of mistakes
1. do not know what to do:lack skills and knowledge and experience
2. know what to do, but do not follow through: no motivation to do it
3.erroreous judgement of the underlying reality: they wish, they have bias, they ignore. they can not see the world objectively. they see the world with filters or they can not see it from different angles
4. lack of attention or focus: sleep on a job. goof around to forget abou their true mission. that is why even vetern traders make mistakes with no stop loss and a disaster. even our control tower guys sleep
5. things out of our capibility or our control. believe in GOD. most people are not god's believer. they thought they can control or capable of anything. liar, self cheating. I believe in miracles since GOD is all mighty.
.....Mark Douglas is a joke. belief in a joke becomes a joke yourself.
the truth about the market is not psychology. the truth is most people ignore common senses, ignorant of science and lack of undersanding of the market.
....the truth is you are far from 'getting it'. that is illusion. first you do not know the IT, why you declare you are close to IT. after-fact chart analysis give you illusions you are close to "getting it", even a three years old can get it! can you see those unprinted bars and unprinted charts seconds ahead or minutes ahead or hours ahead, if you can, you get it. if not, then just illusions.
......know how to do it, does not mean you can judge the market correctly. no one can judge the market correctly everytime, plus most people have bias toward the market. they have many thoughts " it is too high", "it is too low"... they hold those beielf like true christian 's belief in jesus is god's son. if the market keep dropping, they keep buying, even they cut loss short every time, with discipline, it is a sure suicide mission!
....... there is no right system. no always no. just human being's illusions and hope and wish. if there are, then I program it into my computer, I just buy many computers and let them to do it. we come to the trdaing area, the first reason is: bet for profit. not serach a system. it will be fruitless.
.......people will get what they focus on. we human beings's behaviors/actions come from our brain. whether our brain give out wrong commands or right commands, our body will follow!
......no one. winners keep winning, why quit?
.....in the dictionary of a winner, there is no 'if', just ' i must be a winner'. if there is 'if', it said he is a loser.
Quote from Pension_Admin:
I have been trading on and off for 7 years. Over those 7 years, I have slowly learning and unlearning what trading is about.
Confession #1: I read the book by Mark Douglas and I believe in what he mentioned in his book.
Confession: #2: I am close to "getting it" because I now see through all the BS guru's make.
Confession #3: I have a sound money management system, reward-to-risk ratio, and am highly disciplined in my stop and exit, but it never made me a profitable trader.
Confession #4: I have once again come to the point where I found the right system, but I no longer have the confidence in myself and in the system.
Confession #5: I started this system on Tuesday and I have 3 trades open. I keep thinking that they will all be losers.
Confession #6: I wonder how many traders have came to the stage that I am in, and quit because they couldn't be profitable even with a disciplines, good money management and a good trading system.
Confession #7: This is likely my last attempt because if I fail, I would not know what my system is missing.
Thanks!
PA
...sniff....sniff...
