When you went through the devastating bear market of 1973, I was just learning to walk. When you roared with anger during the crash of 1987, I was just finishing school. When you took the first steps towards the epic 1990s bull market I was almost ready. But not quite there yet.
What 99% of traders do not realise is that they are looking for answers in the wrong places. Knowledge of technicals, fundamentals, indicators, ratios, patterns and trend lines… well, everyone knows about them – and everyone loses, except the 1%.
What do the 1% do that the 99% is not doing?
What am I doing, enabling me to have the success in trading that I have, which the others are not doing?
The answer is as simple as it is complex. I am an outstanding loser.
The best loser wins.
I have conditioned my mind to lose without anxiety, without loss of mental equilibrium, without emotional attachment, and without fostering feelings of resentment or desire to get even.
It is because of how my mind works that I am able to trade in the way that I do. My knowledge of technical analysis is average at best. My knowledge of myself is what sets me apart.
The true measure of your growth as a human being is not what you know, but rather what you do with what you know.
I wrote this book to describe how I transformed myself into the trader I am today, and how I was able to bridge the gap between what I knew I was capable of, and what I actually achieved.