Carlos Espinoza’s Reviews > Best Loser Wins: Why Normal Thinking Never Wins the Trading Game – written by a high-stake day trader > Status Update

In trading, sometimes, the more expensive trades are worth more.
No amount of hard work will solve a bad trading position, exiting will solve it.
We must trade with the flow.
Trading is to make money, not to be right.

I must be patient with my trade entries and myself.
It is not what you know that kills you. It is what you think you, but which just isn’t so, that kills you.
I must learn to live under different paradigm, and have a different perspective on fear and hope.
You do not become a viable trader by looking at the chart, you do by looking at yourself!

Interesting story about the candle stick experts. They never trade. 😬

Trading is so subjective that we don’t need to be right very much to make a good living from trading.

The old Fox story feels close to me. When my trades turn green right away, it is a great sign. When turn red, they are failures. I must cut red trades immediately.

"We don't see things as they are, we see them as we are."
"What is the relevance to trading?”
Trader stopped what he saw, and he let his opinion cloud his objectivity.
Trader no longer trades.

A losing trader is not going to wish to transform himself. That is the sort of thing that only winning traders do.
The trader effort is disproportional to its expectations, and their results are aligned with their effort. The trader simply doesn’t work hard enough.
In the search for patterns, we see things that are simply not there.

In trading, when the solution is to obvious, the problem is or rarely the problem. We must work on our psychology.
In my experience if you can guide a person through a successful trade, where he or she holds on to the trade, you will begin to create the right kind of neuro-associations. The trader will experience the thrill of holding on to a trade. They will experience the joy of locking in nore and more profits.

Everything you ever wanted lives in the other side of fear. The goal is to reach an equilibrium mindset regardless of fear and pain.
Life should be lived on the edge of life. You have to exercise rebellion, to refuse to tape yourself to rules, to refuse your own success, to refuse to repeat yourself, to see every day, every year, every idea as a true challenge, and then you are going to live your life on a tightrope.