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Conquering your emotions

When a trader experiences the emotional roller coaster associated with real time trading, he soon learns that, no matter how good his system is, he will need to conquer his emotions if he is going to be able to follow it. But, a master trader is also a master of his emotions. Again, this means that he must be willing to address any issues he has that create emotional states that cause sabotaging behaviors.
Working on conquering emotions can be done on one’s own if the trader is well balanced and does not have moderate to serious emotional issues to address. But, if not, he must find an outside resource to help him resolve his emotional issues.

Every mistake a trader can make

MISTAKES-TRADERSSymptoms:

  1. Trading with “scared” money

  2. Trading from a state of desperation and fear
  3. Ruled by emotions and unable to take a loss
  4. Changing her trading plan often
  5. Trying to be perfect
  6. Looking for medication to deal with emotional issues over trading
  7. Adopting a trading technique (scalping one futures contract) that is beyond her level of trading competence
  8. Attached to the outcome of each trade
  9. Not committed to the process of learning to trade—using trading as a temporary “stop-gap” source of income until something else becomes available.
  10. Acting out personal dramas in the financial markets

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