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After years of being obsessed about what makes a great trader, I can tell you unequivocally that all great traders obey the "natural laws" of trading. None of these truths has anything to do with the methodology traders use, what markets they trade, or how they trade. None of the truths can be programmed into a computer; however, they can be programmed into the mind. |
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Every individual who has become truly excellent in a chosen profession or career has done so by increasing desirable personality characteristics and decreasing or getting rid of less desirable characteristics. |
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Every individual who has become excellent in a chosen profession or career has done so by strengthening personal virtues and controlling vices. In today's world it may seem a little strange to talk about virtues and vices. Make no mistake. It is the same foundation that all successful individuals use to excel in their professional careers. |
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This book is my attempt to help shorten the amount of time it takes a trader to become profitable. It is my way of returning to the market some of the joy, passion, and fulfillment that I have obtained by being a trader. |
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Every trader has strengths and weaknesses. As long as you stick to your own style, you get the good and the bad in your own approach. When you try to incorporate someone else's style, you often wind up with the worst of both styles. I've done that a lot.
Michael Marcus |
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New traders believe that all it takes to succeed in trading is a "holy grail" trading system. Nearly all beginners are convinced that the only thing separating them from unlimited wealth is a trading system that the "professionals" use. If they could only have tomorrow's Wall Street Journal today, they would be rich. Barring that, most new traders would gladly sell their birthright if they could have the computer trading program used by any of the "professional" stock or commodity trading wizards. |
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After all, wouldn't you love to have the same computer trading program as George Soros or Warren Buffett? Without hesitation, new traders |
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