There are not a lot of things that I agree on with PeterCaleb, far from it.
However, there is one thing in which he is definitely right.
When we post trades here, we make trading at least somewhat harder on us as a result.
Why?
Well, because we are human beings, we tend to seek confirmation from others to feel better about ourselves.
Now, what this does to our emotions and consequently our trades isn't something to be taken lightly.
As we seek for confirmation, we will get ourselves involved much more in the trade then we're supposed to, because we're trying to prove we understand how the FX works and that we are profitable. This will lead to closing the trade prematurely and perhaps not closing it soon enough. It seems to me, it is easier when your trade isn't in the spotlight of other people and when you have nothing to prove. This should lead to less emotions and consequently better judgement on the current trade. Less emotions = better outcome.
However, there is one thing in which he is definitely right.
When we post trades here, we make trading at least somewhat harder on us as a result.
Why?
Well, because we are human beings, we tend to seek confirmation from others to feel better about ourselves.
Now, what this does to our emotions and consequently our trades isn't something to be taken lightly.
As we seek for confirmation, we will get ourselves involved much more in the trade then we're supposed to, because we're trying to prove we understand how the FX works and that we are profitable. This will lead to closing the trade prematurely and perhaps not closing it soon enough. It seems to me, it is easier when your trade isn't in the spotlight of other people and when you have nothing to prove. This should lead to less emotions and consequently better judgement on the current trade. Less emotions = better outcome.
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