disadvantages of being too logical (words from masters)

"I believe

that most left-brain-dominant people

have great difficulty

trusting their intuition.

In these individuals,

the left brain is incharge

and wants explanations.

When the right brain can supply them,

the left brain is satisfied.

In contrast,

if the intuition comes as a feeling,

a vibe,

or a bodily sensation,

left-brain-dominant people have a hard time

giving the intuition any credence.

The left brain wants explanations;

if you can’t supply them,

it won’t believe an intuition.

This lack of trust in your intuition

can be a big impediment

to your ability to improve in your trading."



- Curtis Faith

importance of risk (words from masters)

"the instinct for avoiding unnecessary risk

can be very powerful.

this is a trait that ensures survival under conditions of danger and uncertainty.

but in trading, avoiding risk will prevent you from becoming a good trader, let alone a master.

traders trade in risk; it’s that simple.

master traders view risk as an important and necessary ingredient in any potential trade.

they know that the very best trades are often

the ones that are hardest for most people to make because of the perceived high risk.

the very fact that a trade is difficult to initiate

makes it less likely that others will also make that particular trade.

the lack of a large number of traders taking a similar position

makes it much easier to make money during the subsequent price movement."

- Curtis Faith

emotions,inexperience& trained gut (words from masters)

"there is a big difference

between trading emotionally and trading from your gut.

...trading emotionally means reacting to fear and hope, which can destroy your trading decisions.

...trading from your (trained) gut is different.

inexperienced right-brain traders are susceptible to acting on ideas

based on feelings drawn from erroneous principles

because they have not sufficiently trained their right brain in proper trading principles.

they have not yet supplied the right brain

with enough of the raw material required to make proper judgments.

for this reason, the gut reaction of the novice trader will often be wrong."

- Curtis Faith

recognizing scalping opportunities (words from masters)

"For extremely short-term trades,

relying on the right brain is often the only practical approach.

Traders simply do not have enough time to perform complicated analysis.

Traders who are scalpers must trade mostly using their right brains.

For longer-term trading, traders have plenty of time for analysis.

The left brain is good at building and understanding models for how the world of trading works,

and the right brain is good at generating ideas

and recognizing opportunities."

- Curtis Faith

importance of training intuition (words from masters)

"The experiences you encounter

while trading

train your intuition

so that, in time, you can become an expert.

Learning as a trader can be difficult, however, because of the price of mistakes.

In trading, mistakes cost money.

Fortunately, traders can develop their intuition to a high level of expertise

without having to put their money at risk."

- Curtis Faith

library of experiences (words from masters)

"To become a master trader,

to be able to intuitively make good decisions,

you must first gain enough of the right kinds of experience.

This is why doctors and nurses go through extensive training and supervision when they are new to the profession.

It is why firefighters train in fire simulations,

and why airline pilots train in flight simulators.

Through this constant exposure and consistent practice,

experts build up a library of experiences that they can draw upon

when making decisions."

- Curtis Faith