principle and psychology of day trading

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

2、EEDASTOACCURACY,NORDOTHEYPURPORTTOBECOMPLETE.ASTOPLOSSMAYNOTLIMITYOURLOSSTOTHEAMOUNTINTENDED.FUTURESTRADINGINVOLVESFINANCIALRISKANDSHOULDBECONSIDEREDCAREFULLYBEFOREMAKINGANYTRADES.PASTPERFORMANCEISNOTINDICATIVEOFFUTURERESULTS.REGULATORYDISCLOSURESREGARDINGHYPOTHETICALRESULTSHYPOTHETIC

3、ALPERFORMANCERESULTSHAVEMANYINHERENTLIMITATIONS,SOMEOFWHICHAREDESCRIBEDBELOW.NOREPRESENTATIONISBEINGMADETHATANYACCOUNTWILLORISLIKELYTOACHIEVEPROFITSORLOSSESSIMILARTOTHOSESHOWN.INFACT,THEREAREFREQUENTLYSHARPDIFFERENCESBETWEENHYPOTHETICALPERFORMANCERESULTSANDTHEACTUALRESULTSSUBSEQUENTLY

4、ACHIEVEDBYANYPARTICULARTRADINGPROGRAM.ONEOFTHELIMITATIONSOFHYPOTHETICALPERFORMANCERESULTSISTHATTHEYAREGENERALLYPREPAREDWITHTHEBENEFITOFHINDSIGHT.INADDITION,HYPOTHETICALTRADINGDOESNOTINVOLVEFINANCIALRISK,ANDNOHYPOTHETICALTRADINGRECORDCANCOMPLETELYACCOUNTFORTHEIMPACTOFFINANCIALRISKINACT

5、UALTRADING.FOREXAMPLE,THEABILITYTOWITHSTANDLOSSESORTOADHERETOAPARTICULARTRADINGPROGRAMINSPITEOFTRADINGLOSSESAREMATERIALPOINTSWHICHCANALSOADVERSELYAFFECTACTUALTRADINGRESULTS.THEREARENUMEROUSOTHERFACTORSRELATEDTOTHEMARKETSINGENERALORTOTHEIMPLEMENTATIONOFANYSPECIFICTRADINGPROGRAMWHICHCAN

6、NOTBEFULLYACCOUNTEDFORINTHEPREPARATIONOFHYPOTHETICALPERFORMANCERESULTSANDALLOFWHICHCANADVERSELYAFFECTACTUALTRADINGRESULTSDescriptionofConferenceIntroductoryNotefromGeorge:SessionThememobeginswithasummary,calledthe"dailyWhenyoufirststartedtradingyoulearnedthatreading",andisfollowedbyan

7、expandeddiscussionexternaldistractionscostyoumoneyinyourtradesofeachitem.andyoufoundcommonsensewaystodealwiththem.AsyouprogressinyourtradingyouwillalsoThismemoisanaccumulationofideasthathavefindinternaldistractions,thingsthatcomefromdevelopedoverseveralyears.Itisaworkinprogresswithiny

8、ourse