SPDR S&P 500 (SPY)

[DowDeva]

OT: Read 'The Color of Money' by Walter Tevis. Not the movie, the book. Read all the times the main character, an aging professional pool player trying to make a come back, negative self talks to himself and stops it immediately as 'loser mentality'.

This was one of my biggest flaws as a trader - maybe my biggest flaw - and I didn't start doing well until I started cutting that kind of talk. I mean, I talked to myself negatively all the time.

In the beginning, I couldn't even cut it off, all I could do was stop saying things like that on the board. I would write something like, 'Well, I bought puts so the market can go up now' and would xxx it out or discard a post countless times a week.

There are some great affirmation CD's out there and books too on trading psychology. Elder's first book is great for that. And the book I recommended, 'The Color of Money' is also a great novel too. I could hardly put it down.

Good luck to you.

~d