Most often, traders have four fears. There’s the fear of being wrong, the fear of losing money, the fear of missing out and the fear of leaving money on the table. I found that basically, those four fears accounted for probably 90% to 95% of the trading errors that we make. Let’s put it this way: If you can recognize opportunity, what’s going to prevent you from executing your trades properly? Your fear. Your fears immobilize you. Your fears distort your perception of market information in ways that don’t allow you to utilize what you know. |
As traders, we need to observe ourselves carefully and recognise what our fears might be, decide how to resolve the issues (which cause these fears) then follow through with an action plan to eradicate the fears.
As a trend develops, the reactions, or pullbacks, tend to become smaller. Traders looking to enter the trend wait for reactions to place their orders; as the move becomes more obvious, these reactions will get smaller and the increments of trend movement will become larger. When the reaction suddenly is larger, the move is ending; the change in the character of the move signals a prudent exit, even if prices continue erratically in the direction of the trend.
Visitors to Japan will be able to use their fingerprints instead of passports to identify themselves at some hotels thanks to technology introduced by a Tokyo venture.
A lot of statistics are published about the number of traders that are ’successful’ even though we don’t always receive their definition of successful.
