Is 'Positive Mental Attitude' motivation good for a trader?

[darkhorse]

i agree w/ gnome

best trader combo is long run confidence/ short term indifference

 

[dis]

"Positive mental attitude" is a prerequisite for averaging down.

 

[plumlazy]

Positive mental attitude and hope are two different things.

 

[Robert Weinstein]

Originally posted by gnome
While we all HOPE our trade works out favorably, perhaps the right mental attitude is NO mental attitude.

It's all a guess, anyway. So why not make it a studied risk that either works out or gets stopped out?

Being either negative or positive won't impact the result. Reasonalbe thinking + reasonable discipline + a dose of timely courage = MAYBE you'll walk away with the bux.

Best yet.

you have to have a winning percentage of trades in terms of the amount of winners vs. losers. figure out where to enter, where to exit (win or lose) and based on those numbers you need to be making money(positive expectation). THEN you need the money management to execute the trades as your system (regardless of your system) tells you to. IMHO

You will need to have a good enough mental attitude to follow through and if you can get that far you should have an easier time maintaining that PMA even when losing streaks happen

Best of Luck!!

 

[SilverBullet]

Keep your emotional highs low, and you lows high if that makes any sense.....

Generally dont get too high or too low, try to stay unemotional, unbiased, and objective.

And trading while the other kind of high will only lead to red!

 

[vulture]

I agree with the ideas that indifference in the short term is the best strategy coupled with longer term confidence..After all, you want to be confident that over time you will win, but you do not want to put all your faith or hope in each and every trade...

 

[chasinfla]

whatever keeps you going. I try to keep a 'truthful' attitude.

 

[bungrider]

Originally posted by dis
"Positive mental attitude" is a prerequisite for averaging down.

so true...

 

[TriPack]

Originally posted by vulture
I agree with the ideas that indifference in the short term is the best strategy coupled with longer term confidence..After all, you want to be confident that over time you will win, but you do not want to put all your faith or hope in each and every trade...

I was just going to add before I saw your post that I try to maintain a subdued confidence - not too high and not too low. The confidence helps when losing - helps you know you will pull your way out, and the subdued part helps when you are winning so your head doesn't get too big. Whatever the good emotions for trading they are the ones that are more subdued.

 

[darkhorse]

Originally posted by TriPack

Whatever the good emotions for trading they are the ones that are more subdued.

you mean like this subdude?