20080131

 

20080128

 

20080125

 

20080124

 

20080123

 

20080123

 

20080122

 

20080120

 

20080120

http://www.trade2win.com/boards/psychology/10762-experience-psych-cybernetics.html

 

20080119

Mark Douglas:

 

“It's when you're winning that you are most susceptible to making a mistake, overtrading, putting on too large a position, violating your rules, or generally operating as if no prudent boundaries on your behaviour are necessary. You may even go to the extreme of thinking you are the market. However, the market rarely agrees, and when it disagrees, you'll get hurt.”

20080118

 

20080117

Mark Douglas:

 

“There's something else about the nature of trading that makes it easy to escape the responsibility that comes with creating structure in favour of trading randomly: It is the fact that any trade has the potential to be a winner, even a big winner. That big winning trade can come your way whether you are a great analyst or a lousy one; whether you do or don't take responsibility. It takes effort to create the kind of disciplined approach that is necessary to become a consistent winner.”

 

20080116

 

20070115

Mark Douglas:

 

“Randomness is unstructured freedom without responsibility. When we trade without well-defined plans and with an unlimited set of variables, it's very easy to take credit for the trades that turn out to our liking (because there was "some" method present).”

20080114

 

20080111

Mark Douglas:

 

“Trading can be characterized as a pure, unencumbered personal choice with an immediate outcome. Remember, nothing happens until we decide to start; it lasts as long as we want; and it doesn't end until we decide to stop. All of these beginnings, middles, and endings are the result of our interpretation of the information available and how we choose to act on our interpretation.”

20080110

 

20080109

 

20080109

 

Mark Douglas:

 

“The need for rules may make perfect sense, but it can be difficult to generate the motivation to create these rules when we've been trying to break free of them most of our lives. It usually takes a great deal of pain and suffering to break down the source of our resistance to establishing and abiding by a trading regime that is organized, consistent, and reflects prudent money-management guidelines.”