Lessons For 2006

[MrPaul]

	Quote:	TinGull
	Yup! Baking bread is my big thing. Been baking for years now, and today FINALLY had my very first nice loaf of true sourdough bake off perfectly. Took almost a week to make that one loaf...but it's so worth it

lol I wondered what you meant when you mentioned in chat the you had some bread cookin'. I thought it was a metaphorical thing. Baking is a good one, the more non cognitive the better I say, let's the mind reorganize.

[TinGull]

HA! Yea, literally had bread in the making...

[enlightedtrader]

I realized that the best approach to trading is to go with the market flow. Don't fight. Don't prejudge. Just go with the flow. Then suddenly trading is become quite simple.

[MrPaul]

	Quote:	enlightedtrader
	I realized that the best approach to trading is to go with the market flow. Don't fight. Don't prejudge. Just go with the flow. Then suddenly trading is become quite simple.

Thats a very enlightened view, enlightedtrader

[cowpip]

My big lesson is also an obvious one: Never let emotion rule. If you're wrong, accept it and move on. And never EVER give up profits on a hunch price may continue to move in your favor. The market is a ruthless beast with unstoppable momentum and without feeling for anyone. Get in it's way, and it'll chew you up so bad, your momma won't be able to ID you. These same malevolent forces can also be forces for good. Recognize price action's cues and act upon them without hesitation and you'll almost always be on the right side of the tracks.

[torero]

I still trade with emotions but I keep them in check constantly with self-talk and stay focused on charts and price action. It was the biggest hurdle but it's working. I try not to let the emotion to blind me from my objectives. Stops do a big part of that job, once it's set, the battle is half-done. Targets are a bit trickier because it depends on the price action as it develops.

[cowpip]

	Quote:	torero
	I still trade with emotions but I keep them in check constantly with self-talk and stay focused on charts and price action.

You're doing well then, in my opinion. You can't trade completely without emotion - that's not possible no matter who you are. It's when they begin to control your decisions that you end up with problems. And since we are beings of emotion, it will always be something we need to keep in check. You sound like you've got it together, Torero! Bravo!

[TinGull]

Yea, and as you said, torero, talking in the chat room during trading helps A LOT to keep your mind where it needs to be. I love being able to have amazing folks to talk with while in a trade. Helps me focus on things I might not otherwise see.

[matdog]

my biggest lesson is learned the basic of tape reading.