It's Not What You Think, It's How You Think!
Writing this book with Shane has taken well over two years and has been a labor of love! His dedication to getting this process of preparing a book is a testament to his abilities and the technical expertise necessary to do cycle research. However, this book is about how to apply cycles to trading. Trading in itself is a complex endeavor. My good friend Mark Douglas, the famous trading psychology author, has said many times that “trading is the hardest way to make an easy living.”
Trading is a journey, not a destination! The title of the psychology segment of our book comes from our friend Gary Porter, who's told us, “It's not what you think in trading, it's how you think!” Over the years I’ve been writing for many different web sites, magazines, and prologues to books, so what I’m going to do here is to summarize some of the better trading ideas and theorems that might help you become more successful!
When we talk of trading psychology, one of the first things we hear is that to achieve (and maintain) success as a trader, you have to acquire the right mind-set. But what does that mean exactly?
- Does that mean you have to have discipline?
- Does that mean you have to have a great system?
- Does that mean you have to follow your rules?
- Does that mean you have to believe in constant opportunity in the markets, at any time?