Trading and Your Personality
It is not hard to believe. Most traders enjoy excitement and a more tense life. They like thrills and have a need to excel. Trading is a good fit for this personality. This and that but are big. If you use trading to satisfy this part of your personality, you will lose.
The duller aspects of trading are often the ones that attract successful traders. Mechanical system designers who can easily do "this" if "that" happens. The winners aren't thrilled, nor are they depressed by their losses. Each trade and every situation has a predetermined outcome. It could be liquidation, stop-placements, or simply waiting. Even chart readers like myself, who are able to read charts, can still determine the appropriate action. We do not use equations but charts to determine when we should enter and exit. It is predetermined that we will sit in positions we don't want to, and we will exit positions we wouldn't like to. Our system is based on our observations and our trained eye.
Compare that to the emotional trader who can go from ecstasy and elation to despair in just a week, day or hour. He thinks he's got the perfect trading system, but then he finds out that his friends are right, trading is a complete waste of time and a game you can never win. It's no different from casino games 에볼루션카지노 . He was drawn to the promise of easy money and thought he was the one to get it.
Even the most successful traders will admit that trading is not easy money. Even though 50% annual returns sound impossible, they are not without their share of human experience. Even the most experienced mechanical traders will admit that they feel the same emotions at the core as novices. It has always been important to not let your emotions affect your trading .
You can therefore be very emotional on the outside. You should stick to your guns outside. You will not be happy with your open positions most weeks, days or hours. The majority of trades will turn against you at some point during their open status. The unpredictable will always happen, and probably more than one time. You will be wrong, but the illogical is going to have its time.
It is only logical to take the time to learn. If you're not learning something new from your trading then you shouldn't be doing it. Markets, humans and the universe all evolve. You can only bet on evolution, even if you don't want to. You will then be consumed by this.
You don't need to be always one step ahead of market changes in order to be successful when trading. You must accept it's existence and be on time.