|
Connect with Peter on LinkedIn!
Considering it is Easter and you may have some reading time available I decided to send this letter out.
This newsletter continues with some small grabs from my upcoming book the Zen Trader. The book will be available to buy online in just 2 weeks, after the 26th April this year – so don’t attempt to but it now as you will hit a digital wall. (I just heard a rumour it is available now on Booktopia)
The book is a little different, it's not just a trading book but a book with some “soul”. I know that word is thrown around a lot lately as many question our lives and the changes thrust upon us, for I believe there is no point in trading or investing if all it does is make us miserable. With that philosophy in mind comes the Zen Trader.
A reminder that if you are interested in my weekly market comments, along with the 52 week closing highs for the ASX, click on the link below where I post them every weekend.
https://www.easysharetradingsystems.com.au/how-to-trade/52-week-highs
With no further ado here is a sample from Chapter 1.
In my opinion, trading is easy but we make it difficult. We make it difficult because we experience two obstacles to success. I mentioned these in the introduction, but they are worth repeating: 1. Traders don’t have a system or method to trade 2. Even if they do have a method, they don’t stick to it………………………
As mentioned in the book introduction, many trading methods are about probability; often using systems with set rules to produce a mathematical edge. A mathematical edge does not need to be complex. An edge is simply when the probability of your method can consistently deliver more profits than losses. A mathematical trading edge can be obtained in many ways; and there are many different methods which provide that edge. However, a numerical edge is not enough for most traders to overcome the problem of not sticking to a method - because of their intense emotions…………………
Also, there are as many methods as there are traders, and as mentioned, the percentage of successful traders is very low; as low as 5 to 10%. Obviously, there is another obstacle to trading success apart from just sourcing a simple trading method with a mathematical edge. There are no complicated reasons as to why you or other traders won’t stick to a method. The simple answer is fear. Fear of an undesirable outcome, coupled with complicated and often confusing emotions that arise in the mind, when traders are faced with uncertainty…………..
A problem can have a simple solution, yet we seem to want a complicated answer. In Zen, many answers to problems are simple. I am going to show you why Zen is the solution - a simple solution. Mastering the techniques may not be easy - but I assure you it is the answer to prevent fear from hindering your success………………..
I will follow up this email with another ASAP - containing a small example from the next chapter, until then live and trade well.
Happy Easter
Peter
https://www.harriman-house.com/zentrader
If Facebook is more you thing, friend him here!
|
