We’ve all heard the saying “That which doesn’t kill you makes you stronger”. This is true in most cases, but may not be in the case of trading.
There are two opposite yet similar emotions/personality traits that are deadly to traders. True, they might not “kill” you, but they could still easily ruin you as a trader.
These two emotions/traits are the underlying root cause to every single failure to become successful as a trader.
What are these two emotions? Well, if you are an experienced trader, then you are already intimately familiar with them. You have heard about them, read about them, and most importantly, you have EXPERIENCED them.
I am of course talking about the Twin Devils of Greed and Fear.
There is no more lethal combination to anybody in any industry than Greed and Fear are to traders. To some people, the reasons why would appear obvious. To other, maybe not so much.
Greed will encourage someone to push higher even when all prudence tells them otherwise. Greed will entice someone to attempt a trade even when all signs and indicators suggest that they shouldn’t – but the trader can’t bear the thought of potentially missing out on a winning trade! He/she gets greedy, and then suffers the consequences.
Fear is equally destructive to a trader. Fear will keep a trader from making a trade even when all indications are to take action. Fear will force a trader to exit a trade early, limiting profits, even turning winning trades into losing trades. And perhaps worst of all, Fear will convince a some just learning to trade that they CAN’T be successful. When in reality, they can, if they persist, and overcome Greed and Fear.
The Twin Devils of Greed and Fear can be overcome. The very best traders in the world have learned to control their emotions. They trade coldly, dispassionately, without prejudice. They especially make NO room in their psyches for the Twin Devils.
These top traders know that if they sucumb to the temptations of the Twin Devils, that Greed will make them do things that they know they shouldn’t, and Fear will keep them from performing actions that they know they should.
If you have a strong desire to become a successful trader, then you MUST learn to control these two emotions. To learn how you can conquer these two devils, and how you can learn to trade easily and quickly, enter your name and email address in the form below, or in the form to the top-right of your screen, and you will receive a FREE copy of our e-Book The Guerrilla Trader – Classified Insider Report
