Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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Once upon a time there was a hare who, boasting how he could run faster than anyone else, was forever teasing tortoise for its slowness. Then one day, the irate tortoise answered back: "Who do you think you are? There's no denying you're swift, but even you can be beaten!" The hare squealed with laughter.
"Beaten in a race? By whom? Not you, surely! I bet there's nobody in the world that can win against me, I'm so speedy. Now, why don't you try?"
Annoyed by such bragging, the tortoise accepted the challenge. A course was planned, and the next day at dawn they stood at the starting line. The hare yawned sleepily as the meek tortoise trudged slowly off. When the hare saw how painfully slow his rival was, he decided, half asleep on his feet, to have a quick nap. "Take your time!" he said. "I'll have forty winks and catch up with you in a minute."
The hare woke with a start from a fitful sleep and gazed round, looking for the tortoise. But the creature was only a short distance away, having barely covered a third of the course. Breathing a sigh of relief, the hare decided he might as well have breakfast too, and off he went to munch some cabbages he had noticed in a nearby field. But the heavy meal and the hot sun made his eyelids droop. With a careless glance at the tortoise, now halfway along the course, he decided to have another snooze before flashing past the winning post.
And smiling at the thought of the look on the tortoise's face when it saw the hare speed by, he fell fast asleep and was soon snoring happily. The sun started to sink, below the horizon, and the tortoise, who had been plodding towards the winning post since morning, was scarcely a yard from the finish. At that very point, the hare woke with a jolt. He could see the tortoise a speck in the distance and away he dashed. He leapt and bounded at a great rate, his tongue lolling, and gasping for breath. Just a little more and he'd be first at the finish. But the hare's last leap was just too late, for the tortoise had beaten him to the winning post. Poor hare! Tired and in disgrace, he slumped down beside the tortoise who was silently smiling at him.
"Slowly does it every time!" he said....Aesop's Fables, "The Tortoise and The Hare"
A Few Trading Lessons:
(1) Overconfidence is a badge of ignorance. Unless you approach the markets daily with humility, you are doomed to failure. You might knock out a few good trades, and then get even more confident. You are an accident waiting to happen.
(2) Self-confidence is great, but it must be tempered with self-criticism and vigilance.
(3) While you are sitting back resting on your laurels, and bragging to yourself and others about your wins, another trader is out at the gym doing pushups and strength training. He/she is preparing to do battle with you. Stay alert!
(4) You and you alone are responsible for your successes and your losses
(4) Learning to trade properly is a marathon, not a sprint.
(5) Never underestimate the value of patience
(6) Take the setups and use them to maximal advantage. Chasing does not work.
7 and more....your turn...let's see how many you can come up with?
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