TRADER
ALL TRADERS GIVE THEMSELVES EXACTLY WHAT THEY DESERVE!
Trading is an exercise in accumulating money. Once we?ve figured out the mechanics of trading, who else or what else could be responsible for what we end up with?
If traders were to chart their equity, the chart would mirror what they think of themselves on a day-to-day, month-to-month basis. These charts would resemble the typical bar or point and figure charts of the markets that we look at every day. Complete with support and resistance levels, rallies, retracements, consolidation zones and sell-of s, these patterns would reflect the trader?s state of mind, just as the markets themselves reflect the collective state of mind of all its participants.
Some of the big brokerage firms that manage large funds maintain charts on the CTAs that they employ to trade their money under management. They will decide the amount of equity available for each CTA according to the patterns on their respective charts.
In other words, once chart history has been built up it isn?t too difficult to determine when someone is about to take a big hit because of the psychological forces building inside of him/her, just as the collective forces of the market build before a big move.
As private traders if we want to give ourselves more and more money out of the markets, we have to learn how to value ourselves more and more so that we believe we deserve what we want and deserve what we get. .
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