Hi Trin ;) Yeah it is half the work, but it is the basic - the starter. The enviro is bigger than us..that's why. The next half work is to test the "good" enviro...DTA - 'dont trust anybody' said Rambo. With exp and 10000 hrs , probably the enviro could be trusted. But sometimes, the trust could last only 2 seconds. Timing / time is crucial..sometime we just cant control time ;) ...got the result at this point: profit or loss.. Then has to deal with the broken ego if at loss...
Kind of ironic that it takes a lot of ego for an individual to think they can compete in the markets with their own money, and at the same time our egos are constantly being tested. I believe one of the biggest psychological barriers to success is trading with a small account. Considering a trader has a decent trading method and uses basic money management principals, the probabilities of long term success is not determined by how well he can trade, but at how many opportunities they have to get a string of winners. The ego is not easily broken when a trader can take multiple losses in a row and still survive to trade the next trade that may prove to be a big winner.
The ability to identify a good environment to trade is half the work... maybe more?
ReplyDeleteHi Trin ;)
ReplyDeleteYeah it is half the work, but it is the basic - the starter.
The enviro is bigger than us..that's why.
The next half work is to test the "good" enviro...DTA - 'dont trust anybody' said Rambo.
With exp and 10000 hrs , probably the enviro could be trusted.
But sometimes, the trust could last only 2 seconds.
Timing / time is crucial..sometime we just cant control time ;) ...got the result at this point: profit or loss..
Then has to deal with the broken ego if at loss...
Kind of ironic that it takes a lot of ego for an individual to think they can compete in the markets with their own money, and at the same time our egos are constantly being tested. I believe one of the biggest psychological barriers to success is trading with a small account. Considering a trader has a decent trading method and uses basic money management principals, the probabilities of long term success is not determined by how well he can trade, but at how many opportunities they have to get a string of winners. The ego is not easily broken when a trader can take multiple losses in a row and still survive to trade the next trade that may prove to be a big winner.
ReplyDelete