Volente's Bar and Grill

"I've said it before, and I'm going to say it again, because it cannot be overemphasized: the most important change in my trading career occurred when I learned to DIVORCE MY EGO FROM THE TRADE.


Trading is a psychological game. Most people think that they're playing against the market, but the market doesn't care. You're really playing against yourself. You have to stop trying to will things to happen in order to prove that you're right.


Listen only to what the market is telling you now. Forget what you thought it was telling you five minutes ago.


The sole objective of trading is not to prove you're right, but to hear the cash register ring."
 
Quote from volente_00:

"I've said it before, and I'm going to say it again, because it cannot be overemphasized: the most important change in my trading career occurred when I learned to DIVORCE MY EGO FROM THE TRADE.


Trading is a psychological game. Most people think that they're playing against the market, but the market doesn't care. You're really playing against yourself. You have to stop trying to will things to happen in order to prove that you're right.


Listen only to what the market is telling you now. Forget what you thought it was telling you five minutes ago.


The sole objective of trading is not to prove you're right, but to hear the cash register ring."
More...

Patterns repeat themselves or none of us would make money. Yes, react to current price, but price "right now" is a function of historical price, "5 mins ago". an hour ago. a day ago. a month ago. etc

Also, it's impossible not to trade "what you think". Every trade every trader makes is conceptualized; entry, stop loss, target. No one would (or should) take a trade w/o first conceptualizing it,comparing the pattern to our fuzzy logic pattern database that exists in our mind (or, to quote the euphemism "trading what you think").

I watch current price evaluate where price is in the broader scheme of historical price/pattern, then trade it. IOW, I trade what I think.

I think you do too. Every trader does.
 
You must log in or register to reply here.
Back
Top