Comments on: The Need To Be Right – Common Psychological Traps For Stock Traders

By: Excellent Trading Advice From Tyler Bollhorn

Excellent Trading Advice From Tyler Bollhorn — Tue, 06 Jul 2010 23:15:01 +0000

[...] investing is not about being right, it is about making [...]

By: Great Traders Offer No Excuses

Great Traders Offer No Excuses — Fri, 14 May 2010 02:51:29 +0000

[...] Strive for emotional detachment. [...]

By: ANO Anooraq Resources Down While Platinum Stocks Are Up

ANO Anooraq Resources Down While Platinum Stocks Are Up — Wed, 14 Apr 2010 21:39:42 +0000

[...] signals. Your goal as a trader is to be in control of your trades. Not the other way round. My job is not to be right, my job is to evaluate and control [...]

By: Edward Allen Toppel ‘Zen In The Markets’ – Zen Vision And IQ Test

Fri, 09 Apr 2010 02:25:17 +0000

[...] The rules are not hard to understand. Recognizing a profit from a loss is simple. If the rules are easy to grasp and a profit is distinguishable from a loss, where does the problem lie? What makes it so hard to apply the rules? There is something within each of us that has a power over our minds that prevents our acting according to what we have agreed is the proper course of action. That something is present in all of us and is very powerful, more powerful than anything I know. Lets call it ego. Until we learn to get rid of our ego, we will never make money in the market consistently. Those who havent identified the ego’s ways will eventually be destroyed in the market because of their egos tendencies. It is just that powerful. The market rewards those who have subdued their egos. Those who rid themselves of their egos are rewarded greatly. They are the superstars of their fields. In the market, rewards come in the form of profits. In the world of art, masterpieces are the results. In sports, the players are all-stars and command enormous salaries. Every pursuit has its own manifestation of victory over the ego. [...]

By: Bo Yoder And Vadym Graifer – 6 Stages Of A Trader

Bo Yoder And Vadym Graifer – 6 Stages Of A Trader — Wed, 31 Mar 2010 01:37:07 +0000

[...] He does not convince himself that he is right. He watches price movement and draws his conclusions. When market behavior changes, so do his tactics. He acknowledges that market movement is the ultimate truth. He doesn’t try to outsmart or outguess it. [...]

By: Scott Plous ‘The Psychology Of Judgment And Decision Making’ – Investment Traps: ‘Sunk Cost Effect’

Sat, 27 Mar 2010 11:59:05 +0000

[...] The Need To Be Right [...]

By: Trading Should Be Effortless – More Thoughts On Why I Went To Cash

Trading Should Be Effortless – More Thoughts On Why I Went To Cash — Mon, 15 Mar 2010 23:43:24 +0000

[...] in. You know something is not ‘feeling right’. Your job is to protect your capital. Your job is not ‘to be right’. Put another way: You should be able to exit or reduce exposure without the need for explanations. [...]

By: YUII Yuhe International – Gap Down ‘Hole In the Wall Pattern’

YUII Yuhe International – Gap Down ‘Hole In the Wall Pattern’ — Fri, 12 Mar 2010 01:25:28 +0000

[...] you will make additional, much more costly mistakes as your judgement is clouded. The goal is to be emotionally detached and to be in control of your trades. As soon as you hope a position will somehow turn around and [...]

By: Trading Lessons And Technical Analysis Case Study – CFO.V Clifton Star Resources

Wed, 03 Mar 2010 23:46:43 +0000

[...] people don’t understand the implications. Probably the number one problem out there is the need to be right and the inability to let go of a stock or an old idea. Most people simply can’t part ways [...]

By: Using Technical Indicators vs Trading Based Purely On Price And Volume Charts

Using Technical Indicators vs Trading Based Purely On Price And Volume Charts — Mon, 15 Feb 2010 02:48:21 +0000

[...] every trade to fail. They do so because they understand what trading is all about.) You always accept losses gracefully. Then you move on and find the next great trading [...]