We cannot expect mathematical models to help us if they also ignore the underlying structure of the market.
By understanding that most of our losses come from evaluating rather than observing,
we can take a quantum leap forward in our placement of trades.
Winners are doing their best to think in probabilities, and they come to their conclusions from a
different stream of thought than do losers.
Winners are watching what is happening in an attempt to discern what is most likely to come next,
based on how well they can tell what is happening now.
Winners don’t want to predict prices; they want to know with as much clarity as possible what has
already happened. ***(hindsight becomes foresight If you see it often enough)***
Only then can they make a reasonable guess as to what will happen next. In short, winners are outthinking losers.
Trading is a thinking man’s game, not a mathematician’s game.
All excerpts from the Book: Time Compression Trading Chapter 14,,,, A great short insightful read
My exciting Saturday night reading,,,,,
Cheers
Blue
BTW this is not a psychology book far from it....Just the chapter that really drew my attention
By understanding that most of our losses come from evaluating rather than observing,
we can take a quantum leap forward in our placement of trades.
Winners are doing their best to think in probabilities, and they come to their conclusions from a
different stream of thought than do losers.
Winners are watching what is happening in an attempt to discern what is most likely to come next,
based on how well they can tell what is happening now.
Winners don’t want to predict prices; they want to know with as much clarity as possible what has
already happened. ***(hindsight becomes foresight If you see it often enough)***
Only then can they make a reasonable guess as to what will happen next. In short, winners are outthinking losers.
Trading is a thinking man’s game, not a mathematician’s game.
All excerpts from the Book: Time Compression Trading Chapter 14,,,, A great short insightful read
Attached File(s)
Time Compression Trading Chapter 14 Thinking in Probabilities.pdf
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184 downloads
My exciting Saturday night reading,,,,,
Cheers
Blue
BTW this is not a psychology book far from it....Just the chapter that really drew my attention
The Best Loser Wins
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