All I see in these trading books is one perfect chart example after another. It creates an illusion in the mind of the reader. They absorb these conceited tales, written by traders who espouse the same material as everyone else – material that bears little resemblance to the real trading world. It leaves the reader blindsided to the reality of the trading arena. I can’t guarantee you will trade 100-lots, but I will describe the process that got me to trade that kind of size. Tom argues that normal, well-adjusted rational people don’t work well as traders because they are hopeful when they should be fearful, and fearful when they should be hopeful. Adding to losers, letting them run, and cutting winners. In all of his published content Tom teaches how to, essentially, turn the trading game upside down. Tom Hougaard says, “People don’t fail because they don’t know enough about technical analysis. They fail because they don’t understand what the markets are doing to their minds.”

Market is not random, if it is, why are banks (who are mandated by law to exert extraordinary diligence in their dealings) totally invested in it?How you feel about failure will to a very large degree define your growth and your life trajectory, in virtually every aspect of your life. Full Book Name: Best Loser Wins: Why Normal Thinking Never Wins the Trading Game – Written by a High-Stake Day Trader One client asked me what I thought of Marconi. Marconi was a member of the FTSE 100. It had seen better days. It had declined from 1,200 pence to 450 pence over the preceding 12 months. You need to spend specific scheduled and focused time on imagining your desired outcome. You can’t control the enemy, but you can practise your response, so it becomes automated. By doing so, you will de-sensitise your mind to the normal impulses that a normal mind will react to. You will not have the same degree of hesitation as you used to have. You will not feel the same degree of trepidation. Most importantly, you will not encounter the same fear stimuli that a normal brain will because you will have trained the normal fear response out of your mind. “ Readers seldom have chance to get inside the mind of a trader and see things the way the trader does. In Best Loser Wins, Tom Hougaard shows you what it takes to become a consistent trader; this is an assassin showing you how he gets ready for his next hit. If you ever sit alone in front of a trading screen, you need to read this book. Period.

My answer is ...close your eyes, in a quiet place, see the setup, imagine you take it, and imagine the worst outcome possible. Imagine you lose, over and over, expect to lose, be a hopeless pessimist, laugh at the market when it goes your way because you know it is just a question of time before the market turns against you... confront your physical body with the mental anguish of losing trade after trade until you at will can close your eyes and imagine you trade, and the market moves against you, and the body releases hormones associated with loss aversion. I am not immune to those hormones. They affect me, but not like they used to.The time you know you’ve become a good trader is that first day you were able to win by holding and adding to a winning position. When I am in a profitable position, I have trained my mind to ask, 'How can I make my position bigger?'" Instead it provides examples and pointers on how to be prepared to trade a market. How to study it. What to expect from it. How to get intimate enough to gauge what its next move would be. When to assume your opinion is wrong. Of course, there are exceptions. There are some good books written on techniques and strategies, but most of them are garbage because the author suffers under the illusion that he or she should only show perfect trading examples.