The three big reasons for trading drawdowns

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drawdowns

The three big reasons for trading drawdowns according to renown trading Psychologist Brett Steenbarger:

1)  They’re trading a strategy that doesn’t fit the present market;
2)  They’re trading the right strategy, but their head isn’t in the game and they’re not following their strategy;
3)  They’re trading the right strategy with a good mindset, but they’re employing the wrong tactics and thus not implementing their strategy the right way.

The may be so but I find the  STOP the simplest most effective and reliable way to stop drawdowns.

Five distinguishing characteristics of winning traders

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1. Successful traders trade uniquely

2. Successful traders are multidimensional 

3.Successful traders work at their trading

4. Successful traders know when to not trade

5. Successful traders are self-aware

Artificial intelligence has some way to go yet

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GO

go

A computer armed with artificial intelligence has beaten the worlds best player at the Chinese game of Go. Go is complicated, but its nothing compared with a world that has more than 7 billion traders making their own moves every day. Yes we all need  a plan of engagement.