Thursday, December 03, 2009

The Right Trading Mindset

The counterparty on your trade might have done their preparation and might have come to the trade prepared.

Really, really prepared.

If you were going to represent yourself in court against a professional trial attorney, you'd want to be very prepared.

If you were going to enter the World Series of Poker, you'd want to know what you were doing.

If you were going to the battlefield in a time of war, you'd want to be well trained.

As I stressed in the Performance book, there is no minor league of trading; no special exchanges where idiots trade. You're always up against the pros.

Are you prepared to win?

(Thanks to a very sharp trader for the poster).