013231231X.pdf

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229 printed pages
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Quotes

  • Викаhas quoted2 years ago
    if you are honest with yourself you might admit that accepting losses is actually easier than accepting gains, simply because it is much more familiar
  • Викаhas quoted2 years ago
    “Expect gains; do not be surprised by them.”

    Those words have rung in my ears since. This one comment sparked the honest realization that I viewed trading as a gamble rather than a controlled vehicle for consistent profits
  • Викаhas quoted2 years ago
    I would say things like “playing with houses money” and “the trade is now risk free.” This mindset was not only wrong, but also very dangerous, in that when a reversal set in I was constantly not only giving back the houses money but also taking a draw through the initial risk. In hindsight, I was far too cavalier when I was in trades that were going in my favor. I needed to look at the unrealized gains not as house money but as my money and to count these gains as risk, just as I would the initial risk I had taken on the trade. When I finally embraced this, it changed my trading forever and dramatically increased the speed at which my equity curve rose

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