When you trade stocks, you will compete with the smartest people in the world
The playing field of your competition has been tilted to ensure your failure.
If you allow your emotions to interfere with your trading, then the war is over before it has even begun.
Having a good stock trading system is not enough.
Most traders with good systems will be eliminated by the market because psychologically they are not prepared to win.
They do not have the correct mindset for stock market trading.
Most amateurs start to feel like geniuses after a few wins in a row.
Traders gain some knowledge, they win, their emotions kick in, and they self-destruct.
They give all their profits back to the market.Profits make traders feel powerful and elevate their emotions.
They attempt to climb high again, engaging in reckless trades and giving back profits.
Many stock traders cannot endure the pain of a series of severe losses.
They fall to the bottom and perish, never able to rise again and return to the market.
You may need to invest as much effort in self-analysis as you do in analyzing the market.
A minority of surviving traders realize that the problem lies not in their methods, but in their mindset.
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(Ha Ying is one of the few traders who realize there is a mindset issue [grinning][grinning][light bulb][light bulb][facepalm][facepalm])
They, along with you, can change and become successful stock traders, but you must develop your stock market trading psychology.
Losers have the urge to trade, just as alcoholics have the urge to drink.
They make impulsive trades, continue to trade frantically, trying to find their way out of the predicament on their own terms.Losers are like drunkards who do not want to know how much liquor they have consumed.
As a trader, you must change your way of thinking in order to stop losing and start to recover.
The drunkard must admit that he cannot control his drinking.
The stock trader needs to admit that he cannot control his losses.
He needs to acknowledge that he has a psychological issue, which is losing, and needs to cultivate the correct mindset of a stock trader.
(Trading success is not about understanding candlestick charts, not about the Williams %R indicator, not about the Elliott Wave theory, not about the waterfall line, not about the Fibonacci cycle line..............., but about yourself, knowing yourself, and maintaining a calm and responsible attitude)