Understanding two essential elements on your journey to trading success
Fear
Belief
Fear; most people's fear of losing money is GREATER THAN THE DESIRE to make money. Read that 100 times and let it sink in.
So called greed, in trading, is nothing more than a FEAR of losing money that has been made. It isn't greed, it's only fear.
And the delay in entering trades that causes many to get in near the top; fear. (But when everyone else is jumping in I should too). Fear subsided right at the top??
Realize that, in the beginning, you're probably one of those whose fear of losing money is greater than your desire to make money. And fix it.
Belief; why do certain things seem to work at least in the short term? Such as price bouncing off some moving average. Or sometimes an ABCD or head and shoulders pattern works.
Because, at the time, enough money "believes" that it will work and there aren't many factors to influence the contrary.
Imagine that you were trying to become a new citizen in a hostile Country. Would you try and forget about your own belief system.... and adapt (which might keep you from getting killed).
Just a thought or two about fear and belief.
Happy trading
Fear
Belief
Fear; most people's fear of losing money is GREATER THAN THE DESIRE to make money. Read that 100 times and let it sink in.
So called greed, in trading, is nothing more than a FEAR of losing money that has been made. It isn't greed, it's only fear.
And the delay in entering trades that causes many to get in near the top; fear. (But when everyone else is jumping in I should too). Fear subsided right at the top??
Realize that, in the beginning, you're probably one of those whose fear of losing money is greater than your desire to make money. And fix it.
Belief; why do certain things seem to work at least in the short term? Such as price bouncing off some moving average. Or sometimes an ABCD or head and shoulders pattern works.
Because, at the time, enough money "believes" that it will work and there aren't many factors to influence the contrary.
Imagine that you were trying to become a new citizen in a hostile Country. Would you try and forget about your own belief system.... and adapt (which might keep you from getting killed).
Just a thought or two about fear and belief.
Happy trading
When the Joker is in the deck.. fear not and play it well