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Beat the Street: A Trader's Guide to Consistently Scoring in the Markets by Adrian Manz

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Chapter 2. The Mental Game

PSYCHOLOGY IS ONE of the most important factors in the success of a trader. Yet most people flip right past any section discussing psychology in the trading books and periodicals they buy. Traders want information they can read today and make money with tomorrow. They love chapters about profitable chart patterns and hope that they will discover the holy grail in the techniques they read about. But if there is a holy grail, the place to find it is in a thorough understanding of what makes us tick. A trader’s personal psychology, including all of the strengths and weaknesses he or she brings to work every morning, is the key to unlocking a consistently profitable career.

There is a simple fact with which every trader ...

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