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Strategies & Market Trends : E-Mini Pit

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To: Nemer who wrote (1957)	2/28/2002 2:44:11 PM
From: SE	Read Replies (3) of 11288

I read in a book, cannot recall which one at this moment, the following thought. I think it is a very good thought. You must come to understand and accept that at any given moment you have no idea what the market will do. None. Once you do that you will be on your way to being a good trader. The key is finding a methodology that over a sample set of trades shows a profit. That is an edge and it means that if that setup occurs, the market is more likely to go in the direction you think it will go, than to go in the opposite direction. Does that mean it will? No. That is where step one comes in...realization that you have no idea what direction it will go. You can only put the odds in your favor and then let the market do what it will. Once you accept that, losses mean nothing as they are a cost of the business. They don't damage you ego and you don't care any longer about "being right." All you care about is consistent application of your plan (read edge) which over time will make larger deposits into your account, than withdrawls from it. Scott

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