Psychology of Trading.pdf

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1、"PRINCIPALSANDPSYCHOLOGYOFDAYTRADING"ByGeorgeSlezak"PRINCIPALSANDPSYCHOLOGYOFDAYTRADING"ByGeorgeSlezakC1997-2004C2004,GeorgeSlezak,23371OldeMeadowbrookCir.BonitaSprings,FL34134Phone888-311-3400ANYSTATEMENTOFFACTSHEREINCONTAINEDAREDERIVEDFROMSOURCESBELIEVEDTOBERELIABLE,BUTARE

2、NOTGUARANTEEDASTOACCURACY,NORDOTHEYPURPORTTOBECOMPLETE.ASTOPLOSSMAYNOTLIMITYOURLOSSTOTHEAMOUNTINTENDED.FUTURESTRADINGINVOLVESFINANCIALRISKANDSHOULDBECONSIDEREDCAREFULLYBEFOREMAKINGANYTRADES.PASTPERFORMANCEISNOTINDICATIVEOFFUTURERESULTS.REGULATORYDISCLOSURESREGARDINGHYPOTHETI

3、CALRESULTSHYPOTHETICALPERFORMANCERESULTSHAVEMANYINHERENTLIMITATIONS,SOMEOFWHICHAREDESCRIBEDBELOW.NOREPRESENTATIONISBEINGMADETHATANYACCOUNTWILLORISLIKELYTOACHIEVEPROFITSORLOSSESSIMILARTOTHOSESHOWN.INFACT,THEREAREFREQUENTLYSHARPDIFFERENCESBETWEENHYPOTHETICALPERFORMANCERESULTSA

4、NDTHEACTUALRESULTSSUBSEQUENTLYACHIEVEDBYANYPARTICULARTRADINGPROGRAM.ONEOFTHELIMITATIONSOFHYPOTHETICALPERFORMANCERESULTSISTHATTHEYAREGENERALLYPREPAREDWITHTHEBENEFITOFHINDSIGHT.INADDITION,HYPOTHETICALTRADINGDOESNOTINVOLVEFINANCIALRISK,ANDNOHYPOTHETICALTRADINGRECORDCANCOMPLETEL

5、YACCOUNTFORTHEIMPACTOFFINANCIALRISKINACTUALTRADING.FOREXAMPLE,THEABILITYTOWITHSTANDLOSSESORTOADHERETOAPARTICULARTRADINGPROGRAMINSPITEOFTRADINGLOSSESAREMATERIALPOINTSWHICHCANALSOADVERSELYAFFECTACTUALTRADINGRESULTS.THEREARENUMEROUSOTHERFACTORSRELATEDTOTHEMARKETSINGENERALORTOTH

6、EIMPLEMENTATIONOFANYSPECIFICTRADINGPROGRAMWHICHCANNOTBEFULLYACCOUNTEDFORINTHEPREPARATIONOFHYPOTHETICALPERFORMANCERESULTSANDALLOFWHICHCANADVERSELYAFFECTACTUALTRADINGRESULTSDescriptionofConferenceIntroductoryNotefromGeorge:SessionThememobeginswithasummary,calledthe"dailyWhenyo

7、ufirststartedtradingyoulearnedthatreading",andisfollowedbyanexpandeddiscussionexternaldistractionscostyoumoneyinyourtradesofeachitem.andyoufoundcommonsensewaystodealwiththem.AsyouprogressinyourtradingyouwillalsoThismemoisanaccumulationofideasthathavefindinternaldistractions,

8、thingsthatcomefromdevelopedoverseveralyears.Itisaworkinprogresswithinyourse