Trading to win - Ari Kiev

"I have worked with and met many traders in my life. Most combine some form of chart reading, tape analysis, and/or fundamental analysis to make their decisions. The super-traders, though, share certain common traits that supersede whatever discipline they might pursue. They are totally committed to their own particular style and demonstrate complete conviction when trading. Because of this conviction they are able to take large financial risks and have the confidence and belief that probability is on their side. They also have the ability to admit their mistakes and minimize their consequences—that is, losses—when they are wrong. They are independent and think for themselves; they are not easily influenced by others. Most traders, surprisingly, are not like that: They are indecisive, lack conviction, and are afraid of taking risks and making mistakes. They are unaware of the personal demons that are holding them back from true success."

Maximum Trading
1. Recognize your repetitive patterns of trading. Be aware of your life principles and preconceptions and how much they may be behind your trading decisions. At the very least, these principles provide a frame of reference from which emerge your marketing decisions.

2. Let go of the defenses of denial and rationalization that minimize mistakes. Begin to recognize the value of reviewing the previous day's trading. This can help you discern patterns of trading that may reflect an underlying perspective which, though reassuring, demonstrates that you aren't trading to win.

3. Read the tape, and follow it rather than your ego, needs, life principles, and notions about what you deserve or don't deserve. Notice how long-standing beliefs about yourself and the world come into play in the middle of action. Notice how they trigger old attitudes, resistance, and automatic responses—such that you are in the grip of what others are doing.

4. Develop purpose to your trading—commit to playing to win. Play at a committed level of responsibility in terms of producing specific results, doing what it takes to reach objectives, developing self-mastery, and following trading and money management rules