PRINCIPALS AND PSYCHOLOGY OF DAY TRADING Pdf
Quote:When you first started trading you learned that external distractions cost you money in your trades and you found common sense ways to deal with
them. As you progress in your trading you will also find internal distractions, things that come from within yourself, will cost you money in your trades.
Among the items George will talk about are: "never add to a losing position," "it is the markets reaction to news that counts," "when everyone is in, it is time to get out," "size kills," "it is always easier to enter a losing trade," "when you wake up, your instincts are wrong."
The memo begins with a summary, called the "daily reading", and is followed by an expanded discussion of each item.
This memo is an accumulation of ideas that have developed over several years. It is a work in progress and will be expanded with new issues over time.
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