By Yvan Byeajee
Reaching good fortune within the markets is not just in regards to the monetary rewards; it's approximately eventually being at peace with who you're. luck is a state of mind, effortless to consider, tricky to accomplish for the mere cause that it calls for that we commence considering and behaving in a different way. the purpose of this brief “book” is to steer you at the route to attaining that good fortune. The truths I percentage with you're meant to inspire, encourage, and lead you in the direction of a happy and fulfilled mind set.
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If we want better trading results, the quality of our decisions has to improve. 137. Never give up on a trade until a risk management stop-loss has triggered. 138. Desire is what gets you started as a trader; discipline is what gives you results. 139. You will rarely catch the top or the bottom, so most of the time be content with a chunk out of the center. 140. If you know the markets and know yourself, you need not fear the result of a hundred battles. 141. Most people dabble their way through trading, never deciding to properly test and master a particular trading strategy.
Since this strategy never addresses the real issues for winning in the markets – such as, buying how much of what? At what price? Holding for how long? Do you ever sell? How and when? How do you make money in a bear market? – by definition, it doesn’t fit into a positive expectancy mold. Unfortunately, by the time I realized this I had already lost a good portion of my investment capital. However, I had amassed enough knowledge in the field to slowly transition to trading on a shorter time frame, which I thought was better suited to my personality and overall aspirations.
This is a very difficult stage to be in because it is where the most judgments and doubts against the self are formed. This is also where most people give up. They assume that trading simply requires a special talent that they were unfortunately not born with. However, it is the stage where real learning and change begin for those who are persistent. There is nothing esoteric or even illusory about trading success. Of course, those who have staying power are the ones who get to experience it, but there is nothing extraordinary about this.