Todays title is a direct quote from 'Trading in the Zone' as i have been reading Chapters 5&6 today en route to the City and think the messages from these two Chapters are paramount to the success of any trader.
Perception / Fear and a failure to accept that anything can happen in the market must be some of the key reason why traders fail to realise consistent profits.
I love the story in chapter 6 that references a technical analyst that has an abundance of experience but is a lousy trader and having taking a senior role at a top brokerage is pointing out resistance levels to the semi-retired Chairman - who promptly sells 2m bushels at market to send the market crashing through the technical level - makes the point that the market is driven by individuals beliefs and perceptions and these do not necessarilly follow a pattern or rational flow.
Is this still an active blog?
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