Trading Quote of the Day - Page 2 - TradingApples.com : Trading Courses, Coaches, and Mentors

Graham · November 2nd, 2009, 10:16 AM

I am always trying to define what makes me different, what makes me able to profit when so many others fail. I believe it is because I define my own reality as a trader. The market presents a unique experience for most of us. It offers total and complete freedom to create our own reality in which there are only two unalterable truths.

You cannot be right all the time; you can only trade within a set of probable outcomes.

You must capture more profit in dollars from your winning trades than you give back when your opinions are proved false.

Beyond this you have total freedom to create your own reality. You may choose to trade with the trend. You may choose to trade against the trend. You may choose to hold positions for long periods of time; you may choose to hold positions for short periods of time. You may choose to trade four to six times a month. You may choose to trade four to six times a day. The market will try repeatedly to define your reality for you, but the choice is yours whether you choose to accept this reality or create your own.

Bo Yoder

daryl676 · November 2nd, 2009, 11:36 PM

Quote:

Originally Posted by Shootanappleoffmyhead

Haha..as have I. "It's a bull market you know." Tis a long book, but worth it you know.

shoot

I love that part of the book!!

Graham · November 4th, 2009, 11:59 AM

Consistent losers do almost anything to avoid accepting the reality that, no matter how good a trade looks, it could lose. Without the presence of an external structure forcing the typical trader to think otherwise, he is susceptible to any number of justifications, rationalizations, and the kind of distorted logic that will allow him to get into a trade believing that it can't lose, which makes determining the risk in advance irrelevant.

Mark Douglass

Shootanappleoffmyhead · November 4th, 2009, 12:02 PM

Quote:

Originally Posted by GrahamL1

Consistent losers do almost anything to avoid accepting the reality that, no matter how good a trade looks, it could lose. Without the presence of an external structure forcing the typical trader to think otherwise, he is susceptible to any number of justifications, rationalizations, and the kind of distorted logic that will allow him to get into a trade believing that it can't lose, which makes determining the risk in advance irrelevant.

Mark Douglass

Spoken well by Master Douglas.

Graham · November 4th, 2009, 12:19 PM

Master Douglass. Nice.

Have you had some good trades lately?

Graham · November 6th, 2009, 11:15 AM

Train your eye to break down your charts visually into price swings. As price moves to an extreme and reverses, the short-term trend will change and the market will pivot back in the opposite direction. This area of price rejection will identify the support and resistance levels that were significant in the past. Watch carefully each time one of these levels is tested. A great deal of information about the hidden supply and demand in a market can be gleaned from these simple price points.

Bo Yoder

Shootanappleoffmyhead · November 6th, 2009, 12:23 PM

Quote:

Originally Posted by GrahamL1

Train your eye to break down your charts visually into price swings. As price moves to an extreme and reverses, the short-term trend will change and the market will pivot back in the opposite direction. This area of price rejection will identify the support and resistance levels that were significant in the past. Watch carefully each time one of these levels is tested. A great deal of information about the hidden supply and demand in a market can be gleaned from these simple price points.

Bo Yoder

Excellent quote, extremely relevant. Tks Graham!

Graham · November 9th, 2009, 09:40 AM

Knowledge arises from experience. Just as a musician practices diligently to become a concert pianist and an athlete spends uncounted hours on the court to become a great tennis player, a trader must gain experience through actual trading to become an expert trader.

James F. Dalton

Brendan Egan · November 9th, 2009, 11:10 AM

Quote:

Originally Posted by GrahamL1

Knowledge arises from experience. Just as a musician practices diligently to become a concert pianist and an athlete spends uncounted hours on the court to become a great tennis player, a trader must gain experience through actual trading to become an expert trader.

James F. Dalton

This is very true and is something that for whatever reason most people never understand in trading. They think trading is easy money, and while it can be easy money once you learn what you are doing, it certainly is not easy money at first. Great stuff keep it coming

-Brendan

Graham · November 9th, 2009, 12:14 PM

Argeed. I thought it was easy money when I was catching beginners luck but later learned one must earn their keep put in the hours and thank God for that. I love the fact that we earn our money. I would not have it any other way.