Today's Quote: “Wisdom is ofttimes nearer when we stoop Than when we soar.” William Wordsworth

There are several good books out there about trading that should be on every trader’s must read list. If you were forced to choose one and only one, the only possible pick would be “Tools and Tactics for the Master Day Trader”. We are going to run a series of excerpts from the best selling book for the next series of lessons. Now in the words of the master trader himself, Oliver L. Velez…

Trading tactics and techniques will have little to no value if the mind behind those techniques has not been properly prepared. This section is specifically designed to pepper the trader’s mind with bite-sized seeds of wisdom, which over time will germinate and give rise to a heightened state of awareness and a deeper level of understanding. We call this depth. One of the most undiscovered truths of the day is embedded in the fact that the greatest riches of a successful trader lie within his or her thinking, not within the methods used. Sound methods follow the trader who has a sound mind. To state this another way, “proper trading is proper thinking.” We firmly believe that the trader who reads and digests the following sections will emerge from the experience a more seasoned individual. Each time these pearls of wisdom are digested, they will help bring into being a deeper sense of understanding, heightened mental awareness, and greater emotional mastery. Within these short essays are locked some of the most potent pearls of wisdom known to successful traders. We are certain they will help provide you, as well, with a richer, fuller life in the markets.