The Luck Factor

[traitor786]

Quote from oldtime:

well, that was the point of the book. Some people have an attitude which just shuts them off from good luck.

I've talked about this many times. Set up your trading strategy up so it closes the door on bad luck, but keeps it wide open to good luck.

But, no matter how reasonable your strategy is, it is hard to overcome a bad attitude.

Harder than overcoming spread or commissions.

And bad luck isn't always as bad as it first seems. If it wasn't for some incredibly bad luck, I wouldn't be where I am today.

Sometimes, on a bad night, I wish I could go back in time and avoid all the bad luck. But then I look around and see how content and happy I am today and reconcile, "If it wasn't for all the bad luck, you wouldn't have all the good luck you have today."

So my attitude can effect the out come of a coin toss over 10 tosses? I think a positive attitude helps in keeping ones eyes closed to realities. Above we have a situation of good and bad luck. You choose to see good every where. By doing so, you delete your first loses and only count the good years.

A bad attitude limits learning. but a realistic attitude does not. Out come is the same. but the realist does not excuse looses by saying it was bad luck but it is justified cause it is good luck that you had the bad luck as now you believe you have good luck cause of the bad.

How many accounts get blown up through the cycle ?