Sunday, November 20, 2016 4:06:12 PM
Psychology, trading tactics, and money management are the three pillars of
success, but there is the fourth factor that ties them together. That factor—which integrates all others—is record-keeping.
Keeping good records will enable you to learn from your experiences. It’ll help you break out of the vicious circle of small gains and big losses, running like a squirrel in a barrel, sweating and stressed but never getting anywhere.
Keeping good records will make you your own teacher and a better trader.
book will teach you how to analyze and trade the markets, control risks, and
deal with your own mind. I can give you the knowledge. Only you can supply the
motivation.
And remember this: an athlete who wants to enjoy risky sports must follow safety
rules. When you reduce risks, you gain an added sense of accomplishment and control.
The same goes for trading.
You can succeed in trading only if you handle it as a serious intellectual pursuit. Emotional
trading is lethal. To help ensure success, practice defensive money management. A good trader
watches his capital as carefully as a professional scuba diver watches his air supply.
Alexander Elder
Farooq
This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.
http://investorshub.advfn.com/boards/board.asp?board_id=4514
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