Positive thinking v wishful thinking

[notouch 10]

I watched "The Secret" last night and thought it was quite good. I woke up this morning and saw that my overnight YM short had gone from about 60 points profit to near break even. I had to go out but went out thinking positively knowing that as a result I would attract positivity. I returned stunned to find the position was over 100 points in profit. After the open this quickly turned into 200 points. I was convinced my positive thinking had led to the profits and more positive thinking would lead to more profits. So the position started going against me but I tried to remain positive. Well, you know what happened next. I'm laughing at myself now because I don't normally go for new age psychobabble. I'm sure positive thinking has a role in a trader's lifestyle but the lesson is make sure it doesn't turn into wishful thinking.

[Anonymous 11]

Think you can or think you can't; either way you will be right.

 

(note: this is not a substitue for a trading plan )

[notouch 10]

Think you can or think you can't; either way you will be right.

 

I know I can because I have for several years.

 

(note: this is not a substitue for a trading plan )

 

Now you tell me!