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Category: Trading Performance and Psychology
Jan 22
Why You Sometimes Take Trades You Didn’t Want To Take
So often I hear from my traders that they saw a trade setting up let’s say to the short side. They even alerted their trading buddies about that opportunity or posted on the forum that there is a great short setup. Yet suddenly they find themselves going long on that great short trade and it …
Dec 07
Ego vs Mathematics
Many traders focus on having as many winning trades as possible. But it actually doesn’t matter how many winning trades a trader produces, all it comes down to is the bottom-line of are the accumulated profits per period bigger than the total losses? So even if a trader generates 99% little losses but then 1% large profits …
Sep 15
How Average People Think Differently From The Rich
Hi Guys I found this brilliant post on Forexfactory: http://www.forexfactory.com/showthread.php?t=384868 Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil. Average people think selfishness is a vice. Rich people think selfishness is a virtue. Average people have a lottery mentality. Rich people have an action mentality. …
Aug 09
Richard Farleigh
Last night I went to the FXCM presentation to see Richard Farleigh speak. I was very disappointed that he only had a 1 hour slot as I think he had a lot of real great information to offer. Anyhow, what I really enjoyed about this presentation is that in my opinion he spoke about how …