Trading: Turning It On And Turning It Off
Where on earth do you find all this stuff?
That was a quick, but a good read.
On both accounts the author was absolutely right, and I'm guilty of having fallen into category 1 - I've struggled to get the balance right between trading and maintaining a healthy balanced life outside of my trading activities
That was a quick, but a good read.
On both accounts the author was absolutely right, and I'm guilty of having fallen into category 1 - I've struggled to get the balance right between trading and maintaining a healthy balanced life outside of my trading activities
Cheers mate. 
This is something I'm only beginning to fully appreciate:
'Risk management, discipline, perseverance, and system development is what leads to trading profits. The problem is that getting there is far more effort and work than the majority is willing to put into it. Only by turning on a passion for trading and keeping your eyes fixed on your end goal will usually get you there if you do not lose hope that you can bridge the gap from wanting to doing with the right amount of concentrated and correct action.'
Everyone wants the big bucks, but I'd say that few people are willing to embrace the graft and the pain it will probably take to get there. Also, whilst there are people who can win in 80% of races, and have greens that are several times larger than their reds, I'd venture that for most people the picture is far less rosy. Those people will have to have the fortitude to battle through the tough periods without losing their discipline or obsessing about how people in the '80% camp' work their magic. I'd love to have an 80% strike rate and a smooth 45% degree equity curve, but some of the best traders in the world have 33% strike rates and jagged equity curves, and if that's the best I can achieve, then I'll settle for that.
Jeff
This is something I'm only beginning to fully appreciate:
'Risk management, discipline, perseverance, and system development is what leads to trading profits. The problem is that getting there is far more effort and work than the majority is willing to put into it. Only by turning on a passion for trading and keeping your eyes fixed on your end goal will usually get you there if you do not lose hope that you can bridge the gap from wanting to doing with the right amount of concentrated and correct action.'
Everyone wants the big bucks, but I'd say that few people are willing to embrace the graft and the pain it will probably take to get there. Also, whilst there are people who can win in 80% of races, and have greens that are several times larger than their reds, I'd venture that for most people the picture is far less rosy. Those people will have to have the fortitude to battle through the tough periods without losing their discipline or obsessing about how people in the '80% camp' work their magic. I'd love to have an 80% strike rate and a smooth 45% degree equity curve, but some of the best traders in the world have 33% strike rates and jagged equity curves, and if that's the best I can achieve, then I'll settle for that.
Jeff