Tuesday, February 23, 2010

Impressions

Trading is a matter of impressions, especially when you trade fast, as I do. I may think I am trading based on fact and logic, but ultimately all is filtered through my imperfect brain, buffeted by the winds of emotion, of fear and greed. I look, I feel, I let my instincts come into play. I decide. I act.

The Stoic philosopher Epictetus (55-135) wrote:

"We must remember this clearly, that man measures his every action by his impressions; of course, they may be good or bad: if good, he is free from reproach; if bad, he pays the penalty in his own person, for it is impossible for one to be deluded and another to suffer for it. The man who remembers this, I say, will be angry with no one, indignant with no one, revile none, blame none, hate none."

Your winning trades are your own. Be proud. Your losers belong to you also. Learn, and do better next time.

No comments:

Post a Comment