My Lessons Learned posts acknowledge blog posts from around the web which illustrate exceptional ideas that are valuable to new traders. The goal is to assimilate the wisdom of the experienced, instead of learning the hard way. There is an excellent post by Charles Kirk from The Kirk Report blog discussing the difficulties of trading with an ego. Here are some critical lessons from the article that are noteworthy:
YOUR EGO IS THE ENEMY! IT WILL SKEW YOUR THINKING AND EXCITE EMOTIONAL RESPONSES. RECOGNIZE JUSTIFICATION MODE AS SOON AS POSSIBLE TO AVOID CATASTROPHIC LOSSES. ANALYZE THE MARKET FROM LONG AND SHORT PERSPECTIVES TO BALANCE OUT YOUR EGO! LEARN TO LIMIT THE NEGATIVE EFFECTS OF YOUR EMOTIONS!
YOUR EGO IS THE ENEMY! IT WILL SKEW YOUR THINKING AND EXCITE EMOTIONAL RESPONSES. RECOGNIZE JUSTIFICATION MODE AS SOON AS POSSIBLE TO AVOID CATASTROPHIC LOSSES. ANALYZE THE MARKET FROM LONG AND SHORT PERSPECTIVES TO BALANCE OUT YOUR EGO! LEARN TO LIMIT THE NEGATIVE EFFECTS OF YOUR EMOTIONS!
Blog Post Highlights:
No comments:
Post a Comment