| "The only place where success comes
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| | they are never able to become good at one
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| before work is in the dictionary."
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| | methodology.
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| -Proverb-
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| | Thinking traders need to know the outcome
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| There are two types of men in this world.
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| | before hand. This conflicts with their
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| One that falls and one that stands up
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| | ability to trade. They tend to be
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| after he falls. In NLP or
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| | perfectionists wanting to be right all
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| Neuro-Linguistic Programming, there is no
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| | the time. Trading is not about being
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| such things as failure. A failure is
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| | right. It is about making money.
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| simply classified as a feedback and every
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| | Jumping The Gun
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| feedback is a lesson to help you learn
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| | How many men do you know that act before
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| and improve. There are many hurdles a
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| | they think. A form of balance is needed
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| trader must overcome to become
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| | when trading the markets. However, many
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| successful. A winning trader views each
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| | new traders lack patience and discipline.
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| hurdle or setback as a step towards
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| | They get too caught up emotionally in
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| success.
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| | their ideas that they often do things
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| The losing trader on the other hand does
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| | just to regret rushing in at the end.
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| not hold this belief. Ed Seykota said it
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| | These type of traders have a hard time
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| best.
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| | following their trading plans. They may
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| "A losing trader can do little to
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| | understand what it takes to trade
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| transform himself into a winning trader.
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| | successfully but their lack of discipline
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| A losing trader is not going to want to
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| | and self-understanding prevents them from
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| transform himself. That's the kind of
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| | doing so. They believe that eventually
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| thing winning traders do."
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| | things will turn out alright. They often
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| Harsh but yet so true. Success only comes
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| | play on a tilt after a loss and will
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| to those who want it badly. Nothing in
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| | trade recklessly with their capital.
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| this world should be done half-way.
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| | Change Is Good
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| Losing traders refuse to take
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| | Many people are too comfortable with
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| responsibility of their actions. They
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| | their current situation that they dread
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| prefer to blame external factors for
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| | change. It is common to see couples who
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| their mistakes and lossses. In NLP, in
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| | are unhappy with each other remain in a
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| order for a feedback to become a lesson
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| | relationship because they are too used to
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| one must take full responsibility of his
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| | being together. Some people associate
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| action.
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| | change with fear. This attitude does not
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| We All Start Off With A Dream
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| | help in trading. Learning is easier than
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| I think men in general spend half their
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| | unlearning. When something does not work,
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| life dreaming. Without a dream, there is
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| | one needs to change what he is doing
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| no thought. Without thoughts, there is no
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| | right away. A trader needs to be flexible
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| action. However, too many men spend their
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| | and hold an open mind.
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| time talking and thinking. What is
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| | Characteristics Of A Losing Trader
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| required is action.
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| | 1. Undiscplined
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| Losing traders think similarly. They are
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| | 2. No money management
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| so used to thinking and not acting that
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| | 3. Unprepared
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| when the opportunity knocks at their
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| | 4. Overtrading habits
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| door, they are unable to answer it.
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| | 5. Easily tilted
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| Thinking traders usually turn to trading
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| | 6. Does not trade with probabilities
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| systems; tweaking every indicator they
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| | 7. Trades emotionally without
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| have to find the perfect signal. The
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| | controlling: greed, hope, fear, and
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| problem is they spend too much time
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| | euphoria
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| jumping from one system to another that
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| | 8.
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