MoneyTec.com Traders Community Forum - View Single Post - Optimal Stop-Loss and Take-Profit Levels

dacoffey · 01-11-2004, 12:18

anomaly: Exactly. Psychology is 100% of trading.

(Psychology is 100% of everything according to me, but I am a cognitive science major so I may be biased.)

This is the essence of a trading SYSTEM.
The system tells you what to do, and you if you have a system that works, you must believe in it and do what it says.

I don't know how many times I've thought, "oh, I totally see a move there" and poof there goes 50 pips...or I think "oh god this posistion is gonna tank" and I exit, only to have it bounce 100 pips. Succumbing to fear and greed will make you a very broke trader.
I much prefer to just let my system do its thing.

01-11-2004, 12:18	#14 (permalink)
dacoffey level 1 Join Date: Sep 2004 Posts: 35 Rep Power: 0	anomaly: Exactly. Psychology is 100% of trading. (Psychology is 100% of everything according to me, but I am a cognitive science major so I may be biased.) This is the essence of a trading SYSTEM. The system tells you what to do, and you if you have a system that works, you must believe in it and do what it says. I don't know how many times I've thought, "oh, I totally see a move there" and poof there goes 50 pips...or I think "oh god this posistion is gonna tank" and I exit, only to have it bounce 100 pips. Succumbing to fear and greed will make you a very broke trader. I much prefer to just let my system do its thing.