Entries from the Blogosphere
There have been some good posts recently by fellow bloggers that I wanted to bring to your attention.
Mark Wolfinger answers the question Are there prerequisites for options trading?
Brett Steenbarger posted Why Traders Keep Losing Money which includes the following very though-provoking comment:
“You do not fail at trading because you are masochistic or because you love failure or feel you deserve defeat. Rather, you sabotage your trading because you have different facets to your personality…”
Another good recent entry from Brett is The Essence of Trading Psychology.
I also liked Charles Kirk’s The Common Elements Of Success. Definitely give it a read. It hits on some really important points, ones I’ve tried to point out here too. Also check out Five Steps To Consistent Profits.
Here’s something that’s a bit more general in terms of personal finance: Abysmal Survey Results: Americans Don’t Understand Basic Financial Concepts.
Behavior Gap had the entry Confusing Investment with Entertainment. Replace “investment” with “trading” and the point is just as legit.
Struggling with support & resistance and knowing what the key market levels are? Check out the Price Distribution Analysis methods I use.
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