Chapter 11. The Only Magic in Trading—Emotional Stability

As an industry insider, I am repeatedly confronted by those looking for a magic indicator, trading system, or newsletter. They want somebody, often me, to tell them where to buy and where to sell, and do it with impeccable accuracy. Regrettably, I am forced to bring them into reality.

“If all the economists in the world were laid end to end, they still wouldn’t reach a conclusion.”

—George Bernard Shaw

In my years as a broker, I have come across droves of retail and institutional traders and just as many trading strategies and methodologies. I have yet to discover any individual system or style that is capable of making money in all market conditions all of the time. Those who find a way ...

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