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THE PATH TO SUCCESS IN TRADING
No matter how excellent your strategy is, it is difficult to succeed in trading.
What we need is a "system with an edge" and "consistency."
Short-term results are heavily influenced by randomness, but if you execute a pre-tested system with an edge (strategy) over a large number of trades, the law of large numbers works on the entire sample size, bringing out the system's edge.
In the trading world, this is called "probabilistic thinking in trading," but what is crucial here are the "system with an edge" and "consistency" mentioned above.
"Consistency" is simply following the rules at all times. It's very straightforward, but simple does not mean easy.
All of us traders start trading to make money, so we have the belief from the beginning that "winning is good" and "losing is bad."
Due to this belief, even if we have predetermined rules, the erroneous belief in the value of short-term wins and losses causes us to instinctively and strongly avoid losses, leading to the inability to adhere to rules and maintain consistency.
In the trading world, it is often said that "emotional control is important," but as long as the belief in the value of winning and losing exists, you will constantly label the immediate outcomes as "good" or "bad," automatically generating corresponding emotions and suffering.
To fundamentally resolve this, it is essential to shift from the game of winning and losing to the game of probabilities through a deep understanding of trading and probabilistic thinking, and to establish a thought process that is not swayed by short-term results.
This book is not about specific strategies but about explaining these mindsets and approaches as a trader.
The trading journey is a "journey to consistency."
Creating a strategy with an edge is the first hurdle, and the real trading journey begins with consistently using that strategy.
Consistency is not just a decision; it is a bona fide skill.
Your understanding as a trader, necessary preparation, and whether you possess the qualities of a trader are tested by consistency.
To pass the consistency test during the trials of losing streaks and drawdowns, you need to demonstrate that you have the qualities of a trader through the skill of consistency.
I hope this book serves as a guide for your trading journey.
What we need is a "system with an edge" and "consistency."
Short-term results are heavily influenced by randomness, but if you execute a pre-tested system with an edge (strategy) over a large number of trades, the law of large numbers works on the entire sample size, bringing out the system's edge.
In the trading world, this is called "probabilistic thinking in trading," but what is crucial here are the "system with an edge" and "consistency" mentioned above.
"Consistency" is simply following the rules at all times. It's very straightforward, but simple does not mean easy.
All of us traders start trading to make money, so we have the belief from the beginning that "winning is good" and "losing is bad."
Due to this belief, even if we have predetermined rules, the erroneous belief in the value of short-term wins and losses causes us to instinctively and strongly avoid losses, leading to the inability to adhere to rules and maintain consistency.
In the trading world, it is often said that "emotional control is important," but as long as the belief in the value of winning and losing exists, you will constantly label the immediate outcomes as "good" or "bad," automatically generating corresponding emotions and suffering.
To fundamentally resolve this, it is essential to shift from the game of winning and losing to the game of probabilities through a deep understanding of trading and probabilistic thinking, and to establish a thought process that is not swayed by short-term results.
This book is not about specific strategies but about explaining these mindsets and approaches as a trader.
The trading journey is a "journey to consistency."
Creating a strategy with an edge is the first hurdle, and the real trading journey begins with consistently using that strategy.
Consistency is not just a decision; it is a bona fide skill.
Your understanding as a trader, necessary preparation, and whether you possess the qualities of a trader are tested by consistency.
To pass the consistency test during the trials of losing streaks and drawdowns, you need to demonstrate that you have the qualities of a trader through the skill of consistency.
I hope this book serves as a guide for your trading journey.
317 pages, Kindle Edition
Published August 8, 2024
56 people are currently reading
94 people want to read
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Displaying 1 - 5 of 5 reviews
January 2, 2025
This is one of the best books on trading I have ever read
If you want to learn the true secrets to being a successful trader, read this book! After 17 years of trading, I can say the author really teaches beginners and losing traders the real mindset needed to be consistently profitable. Read this and use the information to make you life better. There are thousands of books on trading, but if you are not making consistent money in this game, you need to read this!
If you want to learn the true secrets to being a successful trader, read this book! After 17 years of trading, I can say the author really teaches beginners and losing traders the real mindset needed to be consistently profitable. Read this and use the information to make you life better. There are thousands of books on trading, but if you are not making consistent money in this game, you need to read this!
January 11, 2025
Just starting out or struggling; be humble. Read this.
I have read more than 200 books on trading and trading psychology. I plan to read another 200. Yumi's book explains exactly what most losing and novice traders need to hear and understand to turn their trading to consistent profitability. I don't write reviews; fewer than 5, so far. But Yumi's book deserves more than a mention. It really gets straight to the point.
I have read more than 200 books on trading and trading psychology. I plan to read another 200. Yumi's book explains exactly what most losing and novice traders need to hear and understand to turn their trading to consistent profitability. I don't write reviews; fewer than 5, so far. But Yumi's book deserves more than a mention. It really gets straight to the point.
January 4, 2025
Simple and easy to read.
My favorite idea is: losses are not a bad thing. She emphasizes the fact that backtesting is crucial to find your edge, not only for the data but for the experience. It is not a one day job, you should backtest the same period multiple times. Ah and if youre afraid to lose when backtesting, then you have a bigger problem with yourself.
My favorite idea is: losses are not a bad thing. She emphasizes the fact that backtesting is crucial to find your edge, not only for the data but for the experience. It is not a one day job, you should backtest the same period multiple times. Ah and if youre afraid to lose when backtesting, then you have a bigger problem with yourself.
August 14, 2024
Very Insightful!
Great book for new traders or traders yet to become profitable. Fast/easy read, but it will take time to implement the recommended tasks. Eager to implement Yumi’s outlined tasks!
Great book for new traders or traders yet to become profitable. Fast/easy read, but it will take time to implement the recommended tasks. Eager to implement Yumi’s outlined tasks!
Currently reading
October 24, 2024it is a very special book for traders.
Displaying 1 - 5 of 5 reviews