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The purpose of this blog is to provide a comprehensive compilation of articles and posts which have been of great help to me in the past, or that I find very insightful, wise or containing a great deal of useful knowledge.

The original author of the text will be mentioned, so that those who are interested in the subject can explore it deeper.

The blog will consist out of several categories, some more theoretical, other containing charts and analysis.

Finally, this blog is, in a way, a continuation of the journal
I started in the public section on another site.
Trading Psychology
Old

Knowing when to quit

Posted 04-03-2009 at 03:55 AM by firewalker (The Truth Lies in The Tape)
There are still some issues with my trading that I am unhappy about. Especially when the market does not move nicely or chops around, I lose more money than I should.

I need to remind myself that there will be bad days and good days, and in the bad days damage limitation is sometimes the best one can do. Staying out and perhaps not taking a trade is not necessarily a bad thing neither. Right now, I'm struggling with that mindset. The pressure to make money consistently each day,...
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Old
Rating: 1 votes, 5.00 average.

Focusing on the trade instead of the P/L

Posted 02-20-2009 at 04:58 AM by firewalker (The Truth Lies in The Tape)
This article describes a problem I'm often experiencing by focusing too much on the P/L rather then on the trade itself. For example: letting yourself be influenced by a previous loss by trading more prudently or letting yourself become overconfident after having a series of winning trades.

http://traderfeed.blogspot.com/2009/...ing-plans.html

Steenbarger put it poignantly:
"Performance anxiety occurs whenever our concerns over the...
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Old

Interesting blog

Posted 06-19-2008 at 04:39 AM by firewalker (The Truth Lies in The Tape)
About market psyche, trading psychology, behavioural finance.

These are two very interesting recent articles:

http://www.marketpsych.com/blog/2008...t-its-all.html

http://www.marketpsych.com/blog/2008...o-hard-to.html
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Old

Why don't we keep stops? (Graifer)

Posted 05-14-2008 at 08:37 AM by firewalker (The Truth Lies in The Tape)
With everything said and written on the subject of stops, it should be given that everyone is conditioned to keep them religiously even before they start trading. No matter what source a newer trader turns to, utter importance of stops will be underlined and emphasized up to the degree that keeping them is heralded as the ultimate key to success. We all heard adages like “Take care of your losses, profits will take care of themselves”.

Do all the stern warnings work? Not really....
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Old

Five Guiding Principles (Steenbarger)

Posted 05-14-2008 at 08:35 AM by firewalker (The Truth Lies in The Tape)
Updated 05-16-2008 at 05:09 AM by firewalker
Principle #1: Trading is a performance activity

Principle #2: Success in trading is a function of talents and skills

Principle #3: The core skill of trading is pattern recognition

Principle #4: Much pattern recognition is based on implicit learning

Principle #5: Emotional, cognitive, and physical factors disrupt access to patterns we have acquired implicitly
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