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A real good book on the subject that has helped me out quite a bit is "The
way of the warrior-trader" by Richard D. McCall.
Your problem is a very common problem, the more you worry about it, the
worse it will get.
Hope this helps,
Shay Horowitz shay@xxxxxxxxxx
Zeus Investments, LLC.
13918 E. Mississippi Ave. http://www.zeus-holdings.com/
Suite 245
Aurora, CO 80012
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> From: Wayne Moody <wlm95@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Confidence
> Date: Thursday, December 11, 1997 3:01 PM
>
> 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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