Thinking is 95%

mikeriley said:
A book that resonates with me when it comes to
handling losses is Tom Hougaard's book "The Best Loser Wins".
If you haven't already, you might find it an interesting read.
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Hey Mike,

Am really enjoying reading Hougaard's book after it was mentioned by someone in your what-are-you-presently-reading thread.

I'm a very conservative futures swing trader and have always had difficulty risking more than about 1% of trading account value on any one trade. Lots of testing and considerations such as Kelly criterion and other optimal betting size calculations all indicate that I can and should be risking more, but it's hard to get out of the comfort zone.

Hougaard's emphasis on aggressively pushing a positive expectancy strategy to get the most out of it convinced me to do more testing and then this past week I actually doubled the number of contracts on new orders. It's January and a good time to make a new resolution to be more aggressive...

Btw, thanks for creating the presently-reading book thread. That's been a nice addition to the forum.
 
atrp2biz said:
Is everyone male on this forum?
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nope, hence Tradess instead of Trader (not that it is a word i would ever use in real life) :D

Regarding to the initial post - happens to everyone I believe. With experiences, maybe you are able to recognize it earlier than later and step back.

And I absolutely agree - Mindset is the most important part of the whole trading thing.
 
NoahA said:
As much as this is perhaps 50% a joke, I wonder about the other 50%. Your suggestion was certainly irrational, since the cat should have no influence at all, except of course if its a distraction, and in which case, simply closing the door to keep it out would have been a good solution. But the fact that you're expressing a concern to your wife and she doubles down on what you identify as the problem.......

No joke there either.....
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%%
SOUNDs like his wife is supportive, she got another cat.
I like feeding birds; but not as a distraction to trading or investing.
Frankly, looks Mike R has more sense than blame trade errors on a cat or wife;
especially since she got a new cat.
Actually one could learn some good patterns from CAT ,birds or lions, but not as a real time distractions. Not a stock or animal tip:D:D
Home offices can work well, but they require boundaries like anything.
 
As far as forex trading is concerned, thinking does include 95% because before actually executing any trade extensive research and planning are needed.
 
cassius978 said:
As far as forex trading is concerned, thinking does include 95% because before actually executing any trade extensive research and planning are needed.
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Yes, I agree to you on this. Research is a crucial aspect of trading.
 
When you approach trading with a positive mindset, you are more likely to make rational decisions based on your analysis and trading plan rather than emotions.
 
SimpleMeLike said:
Hello NoahA,

I agree on this. Keep the women out of our trading business. They only bring extra stress anyway.

They want to see us making millions and no debt and them having nice things. They can not help us in trading, unless they already rich.
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You clearly took the wrong woman. Just like I did in my first marriage.

Second marriage was exactly the opposite of the first one. She has no problems with my trading, has even no clue if I have a lot of money or not. She even does not understand anything about trading.

She even tells me: don't care about a losing trade. The amount you will lose is negligible. In past you always recovered it fast.

That's why I always liked East European women more .
 
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mikeriley said:
Hi schizo,



Agreed.

I think that's one of the reasons many traders keep looking,
trying, testing, and searching for knowledge that turns
consistent profits.
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My personal experience is that thanks to looking, trying, testing, and searching for knowledge, I became successful and consistent profitable.
 
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