Fear and greed are the 2 monsters in a trading career. Professionally trading for less than a year, I spend much time dealing with them : ) Well, you'll be surprised to know that many who have traded for many years still have not got a hold of these 2 emotions. The reason is because the stock market can really bring the best and the worst out of you!
You tell yourself that I am definitely emotionless when I trade and your belief is further enhanced when you paper trade with success. Only when you trade with your own capital will these emotions come in.
You tell yourself that I am definitely emotionless when I trade and your belief is further enhanced when you paper trade with success. Only when you trade with your own capital will these emotions come in.
However, the good news is that it is possible to trade leaving the emotions at the door.
- Exercise discipline in excuting trades only when there is a reason to trade
- Decide on the entry and exit prices and STICK TO THEM!
- Trade when the indicators tell you so.
- Trading on news is risky as the "big boys" is already ahead of you.
- Love the trend, sticking to your own opinon when the markets changes will leave you gasping for air : )
There are many more principles but I love this the most. Taken from the forum of a Singapore Trader that has been very successful, I respect this logo that he has put up.
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