Fear And Greed Biggest Enemies!

Discussion in 'General Trading Discussion' started by TraderAnalyst, Jul 8, 2019.

  1. TraderAnalyst

    TraderAnalyst Member

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    Fear and Greed are certainly the biggest enemies in Trading. Greed especially can make you take unrealistic decisions to achieve impossible profits. You may end up harming yourself. On the other hand fear can lead you to close a winning position shortly and you may end up losing. So be cool and trade intelligently!
     
  2. Buyonthedips

    Buyonthedips Senior Investor

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    I totally agree - ego as well. If you let your ego get in the way of your decision making process it can be very very costly!
     
  3. J_C_Anderson

    J_C_Anderson Well-Known Member

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    For sure, emotions are very important in trading. Many traders underestimate the inlfuence the emotion cause on trading process. At the same time, most of the trades based on emotions are losing ones, so it would be better to avoid emotions in trading at all or at least reduce thier impact. The best way to deal with this issue is to improve discipline which is almost necessary to succed in trading. Of course, it is impossible to have no emotions at all, but disciplined trader would be able to act in accordance with the strategy rules despite emotions and feelings. This could be quite difficult for some traders, but it is a thing it is important to work at. If you have problems with discipline, you should also check your strategy: it might happen that it doesn`t fit your personal psychological preferences, because in such case it would be difficult for you to follow its rules. The idea is that each trader should feel comfortable while using his strategy.
     

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