Whether you win or lose, you are responsible for your own results. Even if you lost on your broker's tip, an advisory service recommendation, or a bad signal from the system you bought, you are responsible because you made the decision to listen and act. I have never met a successful trader who blamed others for his losses.
Wednesday, June 25, 2008
Accept Responsibility For Your Actions!
Whether you win or lose, you are responsible for your own results. Even if you lost on your broker's tip, an advisory service recommendation, or a bad signal from the system you bought, you are responsible because you made the decision to listen and act. I have never met a successful trader who blamed others for his losses.
Tuesday, June 24, 2008
Train Your Mind!
The key to investment success is emotional discipline. Making money has nothing to do with intelligence. To be a successful trader, you have to be able to admit mistakes. I trained a guy to trade who had a 188 IQ. He was on “Jeopardy” once and answered every question correctly. That same person never made a dime in trading during 5 years!-Victor Sperandeo
Monday, June 23, 2008
Ya Gotta Have An Edge!
An edge is a skill or a belief that you have that enhances your probability of making money!.An edge is not something that you and only you possess. Many traders may share the same edge and all still profit, for example, cutting losses and letting profits run!.
Friday, June 20, 2008
Trading Perceptions!
As in the markets, you see what you want to see and trade what you perceive to be!Thursday, June 19, 2008
Bankrupt!
The 16th President of the United States, Abraham Lincoln, declared bankruptcy in 1833 and spent 17 years of his paying off the money that he borrowed from friends to start his business. It took Lincoln 30 years to achieve his goal of becoming President of the United States.
Wednesday, June 18, 2008
Friday, June 13, 2008
Wednesday, June 11, 2008
No Market Secrets!
There never was, and there never will be anything secret, or new, about the markets, not now, and not a hundred years from now!.Why? Because the more markets change, the more they remain the same!
Monday, June 9, 2008
LOSING IS PART OF THE GAME!
There is no more certain recipe for losing than having a fear of losing. If you can't stand taking losses, you will either end up taking large losses or missing great trading opportunities ... either flaw is sufficient to sink any chance for success.
Thursday, June 5, 2008
Do Your Own Thing!
The critical ingredient is a maverick mind. Focus on trading vehicles, strategies and time horizons that suit your personality. In a nutshell, it all comes down to: Do your own thing (independence); and do the right thing (discipline).-Gil Blake
Monday, June 2, 2008
Have An Edge!
Make sure you have an edge. Know what your edge is. And have rigid risk control rules.
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