When you first started trading you learned that external distractions cost you money in your tradesand you found common sense ways to deal withthem. As you progress in your trading you will alsofind internal distractions, things that come fromwithin yourself, will cost you money in your trades.

In the conference, George’s memo titled "Principalsand Psychology of Day Trading" will be discussed.The memo is a collection of stories about tradingprincipals and common misunderstandings thatGeorge regularly observes in himself and in othersduring short term day trading, both in the pits and as an off floor trader. He has seen many traderstrade into ruin because they were stubborn in holdingon to common misunderstandings until it was toolate. He feels recognizing and understanding theissues are critical to finding success in day trading.


Among the items George will talk about are: "neveradd to a losing position," "it is the markets reaction tonews that counts," "when everyone is in, it is time toget out," "size kills," "it is always easier to enter alosing trade," "when you wake up, your instincts arewrong."