Hi Peter
nice to hear from you. Are you still mainly excel focused?
In his book Mark Douglas makes the point that once you have an average understanding of markets and trading, you are or can be, as good as anyone. The difference is mindset. And that most unsuccessful traders, in order to improve their performance, try to learn more about the technicalities of trading etc. in the belief that they don't know enough in order to be profitable whereas the likelyhood is they probably know more than enough.
I understand that now.
I would hazard that he is right and most (high 90%)members on here know enough to be in profit.
For example - if it is part of your strategy to not go in running, but you still do , for whatever reason. Then you have highlighted a weakness in your mindset and no amount of studying the ins and outs of which races are scalpers or swingers will address this.
But... and it is a very big but, by focusing your attention on that (or any other) aspect of trading, you are spared having to face up to the (often painful) prospect that you are presently too weak mentally/emotionally to profit from trading at this moment in time. A strong trader accepts losses and a weak one can't.
I posted in a message a while ago that learning to lose is better than learning not to lose because if you are ever going to be profitable you will definitely have to know how to mentally manage losses.
Peter Webb has said himself that 'losing is good' and it is not just a flippant comment.
Desensitisation was a technique I used with clients when i was a therapist and you can use it when learning how to lose.
start with £5 stake and place a bet on the fav. now the second that it moves a tick, in any direction - green/red up and move on to the next race.
If you can do this through a complete Saturdays racing, you will discover something very useful about your trading mentality.
Geez, I used to get paid for this kind of advice.
