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Strategies & Market Trends : DAYTRADING Fundamentals
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To: MKT_entropy who wrote (14439)10/14/2001 3:49:36 AM
From: hypostomus  Read Replies (2) of 18137
 
Dear MKT_entropy - To fully appreciate Mark Douglas' understanding of the psychology of trading, it is necessary first to read his first book, The Disciplined Trader. The two form a seamless whole. Keep in mind that he may not be writing for you. His work is not directed at consistently successful traders, but at failing or erratic ones, or at wannabees becoming gonnabees. My belief is that many people who want to be traders are marginally successful at other pursuits and/or social misfits who seek a solitary independent livelihood. Gary Smith ("How I Trade For A Living"), with all due respect, is an example, by his autobiographical introduction. They have serious psychological impediments to success, notably self-sabotage. What Douglas offers is an approach to trading (read "life") which enhances self worth. Count your blessings if Douglas makes no sense to you. Best regards. - Mike
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