I did it again :(
Posted 26 December 2016 - 06:27 PM
that deals deeper into the subject of psychology. Unfortunately many get it incorrect often quoting Mark Douglas superficially without proper understanding.
Posted 29 December 2016 - 04:26 AM
Well it is not black or white, that's for sure, and while I agree on some of the points hanover makes, it really depends on where each trader is on his way to become a successful trader. It is not about putting psychology vs edge/strat in a useless attempt to find out which is more important. To me it was about finding my edge/strat, and once I had that, then work on my discipline/psychology, which for sure has been, is, the most difficult part for me, and it seems to be so for many people. It doesn't make sense to keep searching for others and better strats, and demoing them over and over again, if the real problem is that your state of mind prevents you from being successful on the long term on a live account with any of those strats.
Psychology, state of mind, is not the most important factor, but it is probably the one that newbies are less aware about, or less willing to spent time improving, and maybe that is what turns it into the biggest reason for failure for many people.
- singu likes this
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