"Whenever I read the tape by the light of experience I made money, but when I made a plain fool play I had to lose. There was the huge quotation board staring me in the face, and the ticker going on and people trading and watching their tickets turn into cash or into waste paper. Of course I let the craving for excitement get the better of my judgment."
The most difficult thing to do as a trader is to stop trading and slow down the thought processes. When I look back over the past few months almost every one of my trades worked, the thought processes were right on and my tape reading was in sync.
It's the drugs that did it to me, the natural drugs that float around in your brain that get excited when you win, and defensive when you lose. This is what makes your mind cloudy and unable to have a pure view. Sometimes your mind gets on a binge and spirals out of control, this is when you make heavy mistakes. Everyone can look at this complex web of money flows objectively, but never for long without having these drugs and learned youth like processes effect your decision making.
I'm getting better at seeing the warning signs.