B*********e
发帖数: 909 | 1 【 以下文字转载自 Chinook 俱乐部 】
发信人: Bridgewatre (JUST DO IT), 信区: Chinook
标 题: any recommendations on stock trading video clips from Youtube?
发信站: BBS 未名空间站 (Sat May 5 21:07:28 2012, 美东)
I like the clips from Informed Trades. Many discussions on trading basics
and strategies. Although each clip is short, it is easy to watch while
taking a break.
Watched again about the effect of Losses and it was true that cutting loss
is not easy.
35. Master the Psychology of Trading: The Effect of Losses
http://www.youtube.com/watch?v=sX11G4erDA4&feature=autoplay&lis | B*********e
发帖数: 909 | 2 Trading Success Means Comfort with Being Wrong
In our last lesson we introduced the concept that money management and the
psychology of money management as the most overlooked but most important
component of trading success. In today's lesson we will begin to look at one
of the most important components of the psychology of money management: a
willingness to be wrong.
Humans in general grow up being taught by their environment of the
importance of always being right. Those who are right are envied as the
winners in society and those who are wrong are cast aside as losers. A fear
of being wrong and the need to always be right will hold you back in general
, but will be deadly in your trading.
With this in mind lets say that you have been watching my videos and feel
that I am an intelligent trader, so you want me to give you a method to
trade. I say fine and give you a method and tell you that the method will
trade 100 times a year with an average profit of 100 points for winning
trades and an average loss of 20 points for loosing trades. You say great
and take the system home to give it a try.
A few days later the first trade comes and quickly hits its profit target of
80 points. Great you say and call a bunch of your friends to tell them
about the great system you've found. Then a few days later the next trade
comes but quickly takes a loss. You hold tight however and then the next
trade comes, and the next trade etc until the trade has hit 5 losers in a
row and amounting to 100 points in loses on the losers so you are now down
20 points overall, and all your trader buddy's who started following the
system after the first trade are now down 100 points.
Now you feel really dumb and are the joke among the group of guys that you
trade with, so the next day you come back to me yelling about how bad the
system I gave you is. I say ok and tell you I have another system for you.
This one also trades 100 times a year but has a higher success rate that I
think he will be happy with. You take this system home and the next day it
quickly hits a winner followed by another then another and then another
until over the next few days you have 5 winners in a row totaling 50 points
in gains for your account. Getting very excited you call all of your trader
friends and tell them that this time you have found it, you tell your wife
how you haven't lost on a trade in two weeks and you rub your perfect
trading statement in the face of all your trader buds as revenge.
So now ask yourself this question. If you were really the trader in this
example which system would you rather have? I can tell you from experience
that the large majority of traders will take the second system without a
second thought, and on top of that will stick with it even if it hits a few
losses that wipe out most or all of its gains. |
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