#4: UNCERTAINTY IN MARKETS "How ridiculous and how strange to be surprised at anything which happens in life."

"Anything can happen in the market.
The largest trading blow-ups are always related to the words “…will never happen”.
The most notable example is Long-Term Capital Management’s (LTCM) collapse. This hedge fund excels in convergence trades, which assume price convergence of two assets over time.The fund had a sound strategy, as long as major market disruptions do not occur. It used huge leverage. It assumed that market disruptions that will affect the convergence relationship will never happen. Well, they did happen.A more recent case involves Marko Dimitrijevic, a hedge fund manager. He thought that the Swiss National Bank will never let the Franc float freely against the Euro.In a nutshell, anything can happen. Welcome to the markets."

#3: THE FUTURE MARKET "Never let the future disturb you. You will meet it, if you have to, with the same weapons of reason, which today arm you against the present."

"Traders worry constantly about the next price tick. This anxiety is prominent when you are in a trading position, or overly eager to trade.
The minds of anxious traders are filled with “what-ifs”.
What if the market goes up? What if it goes down? Should I exit now? Should I target further? These hypothetical questions will mess up your trading perspective.
You don’t need to worry about the future. You will simply interpret every incoming price tick with the same trading tools. Stay confident with your trading skills. Stop thinking about the future, and focus on the present market."

#2: PAIN OF TRADING LOSSES "If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment."

"Feeling distressed because of a losing position or consecutive losses? Remember this quote. The losses are affecting you as much as you allow them to.
Revoke the pain, now."

#1: MIND OVER MARKET "You have power over your mind – not outside events. Realize this, and you will find strength"

- Marcus Aurelius

"As a trader, you cannot be a control freak. A key aspect of learning how to trade is to recognize the parts you cannot control.
The best example is the market. You cannot control the market. You cannot control if your broker screws up. If you think deeply, you cannot even control how much you lose in most cases. This is because most stop-loss orders are not guaranteed.
Hence, as a trader, you can only control your mind. Realizing this is a big step forward. This is why you hear the common claim that trading is 90% psychology and 10% strategy."