Читать книгу Positional Option Trading - Euan Sinclair - Страница 15

A lot of trading books propagate the myth that successful trading is based on discipline and persistence. This might be the worst advice possible. A trader without a real edge who persists in trading, executing a bad plan in a disciplined manner, will lose money faster and more consistently than someone who is lazy and inconsistent. A tough but unskilled fighter will just manage to stay in a losing fight longer. All she will achieve is being beaten up more than a weak fighter would.

Another terrible weakness is optimism. Optimism will keep losing traders chasing success that will never happen. Sadly, hope is a psychological mechanism unaffected by external reality.

Emotional control won't make up for lack of edge. But, before we can find an edge, we need to understand why this is hard and where we should look.