Disliked{quote} In theory but not in reality.If you are wrong and trading wrong direction there is no profit taking perhaps months and years. Please don't post platitudes. simple fact is even the best of best traders are wrong lot more times then correct.Difference is managing losses better.Its a probability game. Regards Horuxito Thank you for welcoming me.I like your journal!Ignored
It's not a platitude at all if you understand and give the right weight to my last words..."if you know how to exit from the market".... think of it.
Again, it's not a matter of being wrong in the market, this is the most common example of how psychology affects your trading results; everyone is always concerned of being right the more he can, everyone cannot avoid trying to predict price in a way or another.
Take 2 or 3 traders and make them to look at the same chart, each of them will give you a different view about direction, trend and each of them will tell you where price will go, and this will not happen because you choosed some newbies, but because of the particular nature of market and the normal way of thinking of people.
No one is able to predict anything, no one could know what will happen tomorrow, but everyone is going to tell you what the market will do tomorrow; again, take a solid cube and ask someone to tell you which is the correct side of it that should lay down on the table: some will not be able to give you an answer, some will tell you it makes no difference, but everyone will tell you the direction of markets.
Well, all this is psychology.