Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (24507)	4/29/2002 8:55:44 AM
From: Joe Copia	Read Replies (1) \| Respond to of 25711

Awareness "Trading is all mental. If you have a positive attitude, it’s going to help a lot in trading. It’s not going to make you money, but it’s going to enable you to at least think clearly. You’ll have bumps and bruises along the way. I know I’m going to get another. That’s just how it works. But now I’m at a point where if I get a little bump, that’s fine. You just have to fight your way through. The hardest thing is thinking of it as trading. You’ve got to think about it as a business. How many businesses become profitable after six months? Very few. In this business you have a chance to become profitable after six months. Some of the better guys have even made six figures the first year, but this is not the norm. Think of it as a regimen you have to stick to. It will make you a better trader." -Electronic Day Traders' Secrets, by Friedfertig and West, p.87

To: Joe Copia who wrote (24507)	5/1/2002 8:27:19 AM
From: Joe Copia	Read Replies (1) \| Respond to of 25711

Hesitation " In a winning trade, the fear of losing will cause us to focus our attention on information that the market is going to take our profits away, compelling us to get out early. In a losing trade we will focus our attention on just the opposite information-anything other than that which would indicate the trade is a loser. Fear causes us to act without a perception of choice. When we are afraid to confront certain categories of market information, it drastically limits the choices that we perceive as available. Cutting a loss isn't a choice if we systematically block from our awareness any information that would indicate that we are in a losing trade. Staying in a winner isn't a choice if we are consumed with the fear that the market is going to take away our money... To prevent these blind spots in our perception, we have to learn to trade without fear." - The Disciplined Trader: Developing Winning Attitudes, by Mark Douglas, p. 119