August 1st, 2009 : Do we beat ourselves?

The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. Old Turkey was dead right in doing and saying what he did. He had not only the courage of his convictions but the intelligent patience to sit tight.

- Jesse Livermore

April 30th 2009 : The Holy Grail…

In the journey as trader, almost all of us have looked for the magic formula or indicator that would make them win every trade. Well, is there actually a winning formula? Is there a way to win every trade?

Well the answer is yes. Let me repeat the answer is YES. Now, who talked about profits in every trade? All that has been said is it is possible to win every trade.

Taking responsibilty for every trading decision is what makes you win every trade. Its not about being profitable, its about taking the responsiblity of what trading decisions we take. Thats what makes you win every trade. Learning to take the responsibilty for every trading decision is one of the most important step that the trader takes to progress his/her trading career further.