Know your emotional enemies – Greed, Fear & Hope. To be
successful trading it doesn’t mean knowing how to use fancy trade setups and
complicated algos. The starting point for being a successful trader starts when
one tries to masters & has a hold of his emotional enemies mentioned above.
Each of your emotional enemies is unique and for the JOB NAMED
TRADER they are your jealous colleagues who always try their best to deviate
you from being a successful & disciplined trader. Remember market is your
boss and it only rewards those who are disciplined towards it.
During the course of Trading one must have experience this
enemies and also must have faced consequences. Even if you have not experienced
these enemies face-to-face you must have at least heard other experience veterans
had troubles with them.
Trading is a form of art rather than science in many ways.
The importance of being able to master yourself is more important than being
able to master any system of analysis. If you have a systematic approach which
has a winning percentage of 80%, you will still lose money in market. Do you
know why? Because you emotional enemies will cause this. Because a system can’t
make you money in market it’s the ability to trade that makes money in market.
Many either wait for too long due to fear.
Or they don’t have the patience to wait until the time is right, and enter
the trade too early. The most importance part of trading the markets is thus mastering yourself.
When one is trading they must be prepared of hope, fear, and
greed and you must be aware of when you are trading from a basis of these
emotions.
In the next article we will see how you emotional enemies affect your
trading process and stand between you & your future successful trader.
Happy trading friends.
0 comments:
Post a Comment