Thursday, September 27, 2007

Trading Fears

Mark Douglas once said, "Ninety-five percent of the trading errors you are likely to make-causing the money to just evaporate before your eyes-will stem from your attitudes about being wrong, losing money, missing out, leaving money on the table"


I've over come all of these except the fear of missing out. Which is clearly shown on my blog on all the trades I make every day that consistently become losers. I've been forcing myself to justify bad setups into thinking they can be profitable just so I can trade them. I need to seriously stop that if I want to be successful at this for the rest of my life. I'm reading this book for the second time now since I'll be having more down time while I wait for good trading setups.


The quote above is from a book called Trading In The Zone by Mark Douglas. Easily one of the best books you can find on trader psychology. Anyone who is interested at all in the market or who is currently trading now as an amateur or professional should read this book before doing anything else with trading.

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