Developing a Casino Mentality
I submit that the successful trader would do well to adopt a casino mentality. At first glance, this sounds reckless and nothing more than a gambling attitude - but it's not. Why? Because everyone knows that it's the casinos that take in all the money on a consistent basis. And, of course, the patrons end up losing even after brief winning streaks.
So what do successful traders and casinos have in common? As a trader, what if you were the casino - that is, on the winning side. You could expect to profit consistently. You would be unperturbed by an occasional drawdown (like the casinos when someone hits the jackpot), because you know that you potentially will make it back and more.
So what do successful traders and casinos have in common? They both
have a winning system that clearly puts the odds in their favor. The more they "play" or stick with the system, the more likely a positive outcome. It's only a matter of time, because the odds are in their favor.
By thinking like the casino and not the hapless gambler, getting on the right side of the table, putting the odds in your favor, and working the system, you can tap into the same phenomena that built Las Vegas.
Good Trading,
Bill Poulos
http://www.instantprofitstoday.com
About the Author
Bill Poulos has been trading the markets since the mid 1970's. In 2001, he formed Profits Run, Inc, with his son, Greg, to help educate traders around the world by offering trading courses and systems.
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