“Sophisticated institutions use complex, computer-driven models, but it remains far from clear that their results are better than those achieved using a simplified approach. Lack of discipline and a strong tendency of most people to feel more comfortable running with the herd are the real enemies of good investment performance, not the lack of complex models.”  Tony Boekh

“October is one of the peculiarly dangerous months to speculate in stocks in. The other are July, January, September, April, November, May, March, June, December, August, and February.” – Mark Twain

What Do You Know?  This TL Post Was Number One in 2010! I Wonder Who the Author Is?!? (The Best Stock Trading Books) Check Out #7 Too!

Fibs Traders Tell (Trader’s Library)

A Self-Fulfilling Prophecy (Business Pundit)

About All Those Top Ten Lists…(Joshua Brown)

Mivervini’s Six Reasons Most Traders Fail (Care of Joshua Brown)

The Best Selling Books of 2010 (According to 800CEOREAD)

How About Some Books to Read for 2011? (Care of Chris Perruna)

Advice From Around The Web (Kiplinger)

“There have been a slew of great articles lately on why resolutions fail, and I agree wholeheartedly with them. I’ve never had much success with resolutions myself — they always fall by the wayside after a few months, and by summer I don’t even remember that I’d set resolutions in the first place.” (Underachievement and The All-or Nothing Mindset)

Great List of Links for the Thinking Trader (Business Pundit)

How to Build An Enduring Edge (StockBee)

“Goals have some excellent qualities and they serve a real purpose when used correctly.” (When Goals Impede Progress)

Got 5 Minutes? (The Best Way to Use the Last Five Minutes of Your Day)

“Keeping a trading journal will help to keep you disciplined and focused in the year ahead.” (Dr. Doug Gives 9 Questions That Should Be Asked When Keeping Your Trading Journal)

“Managing risk involves managing the emotional side of trading so that the focus can be on the cognitive side of trading.” (Managing Risk With Psychtrader)

“Necessity may or may not be the mother of invention, but it appears to be a highly effective motivator.”   (The Secret of Peak Performance)

“Award-winning statistician and political scientist Andrew Gelman says that uncertainty is an important part of life, and recognition of that uncertainty is itself an important step.” (Andrew Gelman on Statistics)

“An S&P report recently found that someone who invested $10,000 in the S&P 500 on Dec. 31, 1999, and left the money there until Dec. 1, 2010, would have just $8,209. An investor who was in the market only on the first day of every month over the same time — for example, buying at the close on Dec. 31 and selling at the close of the first trading day in January — would have $13,816.” (How to Beat the Mart…One Day at a Time)

“My process and approach to any market can be summarized in these stages…” (Finding Tradable Edges With Adam of SMB)

2 Responses to THE THINKING TRADER 01-04-2011
  1. carol atkins
    January 5, 2011 | 12:21 pm

    Great Thinking Trader…always enjoy them…these were very informative. Thanks!

  2. TimH
    January 7, 2011 | 9:01 am

    Another Great Thinking Trader…especially liked the post: Minervini’s Six Reasons Most Traders Fail. in the subsequent interview with The Kirk Report; Kirk asks: “What advice would you give a person just now beginning to trade the markets?” Minervini’s response: “Find a good mentor.Commit to a strategy.Cut your losses.Tune out the media.Take full responsibility for your results.” These are all things my good mentor teaches!! Thx. David

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