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At 08:50 AM 12/11/97 -0800, you wrote:
>My analysis is was bang on today and my timing was uncanny. All I needed
>to do was phone in my order. But did I? No! Why? Lack of confidence in
>myself.
Was the entry strictly defined by your method, or was it intuitive?
If you trust your method, you'll be more afraid of missing a winner
than of having a loser, so execution becomes automatic.
If your analysis and timing are loose and intuitive, you build confidence
by trading (small) and getting a history. You might see that you are
correct 75% of the time, and the longer you continue at that rate, the
more you'll expect it to hold.
Either way, you are never certain about the current trade, rather
about a group of future trades as a set: if you execute your strategy
you will make money. The current trade only seems important because you
have to live through it, but it's no more important than the one you
closed 3 weeks ago and have forgotten. The trick is to back off to
an infinite perspective.
Wayne
wlm95@xxxxxxxxxx
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