It all starts in your mind. Even the idea of speculating begins there, deep down in one of those recessed creases you see in brains. Thus we’d better pay at least some attention to our mind-set or state if we are to succeed at this art of trading.

While I’ve written on this subject, it’s a stretch to claim I’m any sort of expert. Sure, my undergraduate minor was in psychology, but my database is not hundreds of winning traders. My database to study this phenomenon has been primarily me—and a ton of losing traders who call me every day, stop by to visit, or meet me at seminars.