This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This is the best blog post ever on the subject of trading.
To quote Dr. Brett, “…And I have a feel for bullshit.”
Another notable quote, “…But if you don’t have concrete goals, concrete ways of working on goals, and specific routines to research markets and prepare for the day, you don’t have a passion for trading. You have a passion for making speeches about being passionate.”
And the absolute best quote ever - from the best post ever - “…Mmmmmk. So you have no prior experience or track record, you have $20,000 account, you’ve read some books and attended some seminars, and you’re going to sustain triple digit annual gains against experienced market pros. That’s a great business plan….And you wonder why I don’t take on wing-and-a-prayer traders for coaching. If I have to participate in a delusion to get paid, I’d rather do without the income.”
“You know, trading is a craft. It’s something you hone over time. It’s not a place to act out one’s wildest fantasies or basest fears. If you’re not taking a logical approach to trading success, perhaps your motivations for trading are psycho-logical. That, is the saying goes, is an expensive way to learn hard lessons about yourself.”
There’s no psychobabble going on over there! Love it!
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
November 30th, 2007 at 9:18 am
Great link. I never thought I’d say that to you…
-DT
November 30th, 2007 at 12:19 pm
Yeah, Dr. Brett gives a lot to the trading community — including honesty.