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Trading Psychology How do we learn to conquer our fear and greed? Discuss the mental aspects of the game.

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Old 02-26-2007, 11:55 AM   #1

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Some Good Trading Psychology Quotes

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"To be a successful trader/investor, your intellect and emotion must work as a team, which is easier said than done." - James Dalton from Markets In Profile -
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Old 02-26-2007, 12:17 PM   #2

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Re: Some Good Trading Psychology Quotes

damn, I have too many to list.

But those two in my signature are my favourite.
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Life is a comedy for those who think and a tragedy for those who feel.Horace Walpole Doubt all before you believe anything!Sir Francis Bacon
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Old 02-26-2007, 03:27 PM   #3

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Re: Some Good Trading Psychology Quotes

The trinity of successful trading:

1. A trader must accept loss.

2. A trader must accept the uncertainty of the results of any given trade.

3. A trader needs to think in terms of overall probabilities. (Trade for expectancy not accuracy.)

" Successful traders accept and expect losses. Losses are endemic to trading; they are the cost of doing business. The consistently successful trader accepts deep in his heart that his winnings will be tempered with inevitable loss. But the trader anticipates his ultimate triumph because he has structured the probabilities in his favor".----LBR
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Old 02-26-2007, 03:48 PM   #4

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Re: Some Good Trading Psychology Quotes

The best, at least I think, quotes come from Jesse Livermore. I uploaded all the quotes that I found meaningful.
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File Type: doc Reminiscences of a Stock Operator Quotes.doc (32.5 KB, 51 views)
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Old 02-26-2007, 06:19 PM   #5
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Re: Some Good Trading Psychology Quotes

  • Assumption 1: We have not learned everything there is to know.
  • Assumption 2: What we have learned, unwittingly or by choice, may not be very useful with respect to fulfilling ourselves in some satisfying manner.
  • Assumption 3: What we have learned that is useful and works to our satisfaction is still subject to change because of changing environmental conditions.
"If you operate out of the foregoing assumptions, you will begin to recognize how every moment becomes a perfect indication of your state of development and what you need to do to improve yourself.

"When we refuse to acknowledge or accept the perfection of each moment in our lives, we deny ourselves access to the infomation that we need to expand ourselves. Any skill that we need to learn to express ourselves more effectively has a true starting point. To find that true starting point requires our acceptance of each outcome as a reflection of the sum total of who we are so that we can first indentify what skill needs to be learned and how we might go about the task of learning it. Without this true starting point, we will operate from a base of illusion. " Mark Douglas -- The Disciplined Trader
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Old 02-26-2007, 07:51 PM   #6

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Re: Some Good Trading Psychology Quotes

"Go for it now. The future is promised to no one"
"Conflict can not survive without your participation"
"Everything you are against weakens you. Everything you a for empowers you"

- Dr Wayne Dyer
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Old 02-27-2007, 06:53 PM   #7

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Re: Some Good Trading Psychology Quotes

It's not timing the business, it's time in the business.
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Old 02-27-2007, 08:36 PM   #8
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Re: Some Good Trading Psychology Quotes

"To be a successful trader you need to trade without fear. When you use fear as a resource to limit yourself, you will create the very conditions you are trying to avoid. Or to say this another way, you will experience your fears." Mark Douglass -- The Disciplined Trader
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