Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.This quote by Warren Buffet emphasizes the idea that predictions are often based on the biases and assumptions of the person making the prediction, rather than on any objective assessment of the future.In short, one reason why the future
The game taught me the game. And it didn’t spare me the rod while teaching.This quote by Jesse Livermore explains in simple terms how he learned to trade by staying in the game. He endured losses and spirit-breaking setbacks, but learned a huge amount from them. Reflections Know Your Probabilities Traders will often experience 5 losses in
One of the hardest things to teach about trading, I have found (anecdotally), is the idea that you can be wrong, that it’s perfectly okay to be wrong, and that a controlled trading loss is actually a good thing. But, why is that, why do people fear trading losses so much, why do they have trouble
Emotional pain is one of the most common ways that our mind reacts to a loss, or a string of them. Below is a list of common questions/ comments your mind makes when you lose, which often stir up or intensify unpleasant feelings.
Sometimes a short story can teach much more than an entire book. In today’s post, I want to start by sharing the story of a young martial arts student who was under the tutelage of a famous master.
“When should I quit trading for good?” If you’re a struggling trader, I’m sure this question has been in the periphery of your mind at some point.