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Trading Is Hard! These Are the Facts

Posted In: Forex Trading   Posted On: 2019/10/21 11:14 AM    Posted By: ituglobal




“Looking at the three stock indices above, I cannot tell which way stock prices will move next.” – Joe Ross (over 65 years of experience in the markets)

 

“There's an advantage to using a more methodical approach: Continue to search for solid, high probability trade setups, outline detailed trading plans, and trade prudently with unwavering discipline.” – Joe Ross

 

“If you want to be a profitable trader in the long run, you must learn to keep your profits rather than give them back to the markets.” – Joe Ross

 

“While paper trading is great for learning the basics or trying out a new strategy without risk or stress, it can't teach you everything -  like how to handle risk and stress when it's real money on the line. At some point, you have just got to get into the trading "kitchen” try it for real.” – Trading Educators

 

“Markets are pretty simple – they have times when they go up and times when they go down.” – Chris Tate

 

“I was recently reading an article about a University study on the behavior traits of Professional and Amateur traders which highlighted some interesting findings. The researchers split the group into two, one was made up of half the traders who were given a proven trade plan to follow and the other half who developed their own. After a set number of weeks trading the markets, the group who followed the plan had been profitable and the other half had not. However, what was more interesting was the behavior of the groups. The profitable group had stuck to their plans throughout, yet the unprofitable group consistently changed their trading plan after three losses, irrespective of whether the three losses came in a row or not. What was their motivation to keep changing? To win more, or to avoid losing?” – Same Evans

 

“A saving grace in trading is learning to take advantage of series probability, which allow for you to enjoy a series of wins, provided you have an edge”. – Attributed

 

“Understand your own psychology and the market’s psychology, and you’ll be rich beyond that which you could ever conceive”. – Chris Tate

 

“So whatever you do, forget about making it personal. Trading is not personal. It is just business. If you keep your self-esteem out of the picture, you will trade more objectively, rationally, and profitably.” – Joe Ross

 

It always struck me that golf and trading were closely related in that in a golf tournament the person who wins is the one who makes the fewest catastrophic errors. And when they make those errors it is the person who manages their mental state afterwards who wins… - CT

 

“So far I haven't found another profession that's as challenging and interesting day in and day out as trading. I love waking up and knowing what I'm up against. Knowing I might find a new little edge today in the markets. Going through my trading routine and enjoying the freedom trading provides. It's also one of the most scalable businesses out there and it has many other advantages...but to make it here as in any business you'll need to do some hard work that isn't always exciting.” - Marco Mayer (TradingEducators.com)

 

“There is an infinite number of potential trades for you”. – Chris Tate

 

…There are people who believe themselves to be traders who never take a trade. Their reasons for this lack of activity are their own but intriguingly they will be the ones who spend all their waking hours on internet forums arguing why your RSI should be set to 9 and not 12 as if that friggen mattered at all. When you elect to do nothing you have by default elected to do something.” – Chris Tate

 

“If it does not conform to your rules, do not take the trade”. – Chris Tate

 

 “To succeed, you need to anticipate where a potential trade will go or at least have the tools to increase your opportunity in being right.” – TradingEducators

 

 “The great joy of trading is that there is never any upper limit placed on what you can earn. No one will ever ring you up and tell you to stop because you are doing too well. Your success is defined by your skill.” – Chris Tate

 

 

Trading realities: Trading realities

 

 




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