Thursday, December 27, 2012

Your worst enemy in trading

Life Is Not About The People Who Act True To Your Face, It Is About The People Who Remain True Behind Your Back
When you are stressed out, and lose confidence, you are your own worst enemy. When in a bad slump, many traders sabotage themselves. They panic and denial sets in. They fail to admit their shortcomings and mistakes. Although it's easier said than done, flexibility and open-mindedness is the hallmark of success for a trader.  
If you can be flexible enough to admit your mistakes, admit your humanness and vulnerability, and avoid imbuing setbacks with personal significance, you'll be able to take losses in stride. You'll be able to stay objective and read the markets intuitively and precisely.
Trading is indeed a stressful business. There's pressure to do well, and the need to do well can interfere with your ability to cultivate the calm, winning mindset needed for financial success. But by staying grounded in realistic expectations rather than feeling beaten down, you can remain objective, free, and creative. And when you reach this state of being, you'll increase your chances of mastering the markets.