http://www.thestockbandit.net/2006/01/17/into-wishing/ Trading blog with trading insights, discussion on swing trading, day trading, and trading psychology. Fri, 16 May 2008 05:32:13 +0000 http://wordpress.org/?v=2.0.9 http://www.thestockbandit.net/2006/01/17/into-wishing/#comment-5855 Thu, 22 Mar 2007 17:50:18 +0000 http://www.thestockbandit.net/2006/01/17/into-wishing/#comment-5855 [...] Gut feel comes with experience, but the only problem is that it’s based on feel. That means that discretionary trades which are based on feel are subject to your moods. So, whether you’ve been on a hot streak, a cold streak, you’re distracted or just plain tired, your trading method itself will vary. We all see results vary from time to time, but our method should only vary when we want it to! [...] […] Gut feel comes with experience, but the only problem is that it’s based on feel. That means that discretionary trades which are based on feel are subject to your moods. So, whether you’ve been on a hot streak, a cold streak, you’re distracted or just plain tired, your trading method itself will vary. We all see results vary from time to time, but our method should only vary when we want it to! […]

]]> http://www.thestockbandit.net/2006/01/17/into-wishing/#comment-3681 Wed, 27 Dec 2006 23:30:54 +0000 http://www.thestockbandit.net/2006/01/17/into-wishing/#comment-3681 [...] Not anymore - I’m past that, and thankful that I finally realized it. It took some time, probably because of the irony of it all. Who would have thought that the best traders’ real key to consistent profits in the market all boils down to humility and their ability to get out of a trades when they need to the most? What happened to bravado and having the guts to take the plunge and go big when you really feel you’re right? Is that not how the best traders do it? Occasionally that approach might give you a windfall profit, but what happens when you’re wrong (and you WILL be)? If you don’t have an exit plan, you’re gonna be toast. It’ll be Hammer Time for your account, and it won’t be pretty or fun! [...] […] Not anymore - I’m past that, and thankful that I finally realized it. It took some time, probably because of the irony of it all. Who would have thought that the best traders’ real key to consistent profits in the market all boils down to humility and their ability to get out of a trades when they need to the most? What happened to bravado and having the guts to take the plunge and go big when you really feel you’re right? Is that not how the best traders do it? Occasionally that approach might give you a windfall profit, but what happens when you’re wrong (and you WILL be)? If you don’t have an exit plan, you’re gonna be toast. It’ll be Hammer Time for your account, and it won’t be pretty or fun! […]

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