4 Comments

1. 

   Marco-Reply

   July 14, 2017 at 9:24 am

   Totally agree Charlie, maybe these concepts are the very holy grail in trading.
   Even analyzing the biggest collapses in trading history you can notice there are the same fallacies behind: horrible risk management, no stop losses in places, doubling and doubling up on wrong bets, attempts to cover previous losses with stupid bigger sizes.
   So, from other experiences you learn that the market has (almost) never ruined any trader per-se, the traders ruin themselves 99% of the times. I’ve never heard about a trader blowing up his account betting 1% per trade and being wrong 100 of times in a row.
   If you learn to cut your emotions off (as much as possible, since we are humans), maybe you won’t get rich overnight, but I am sure you will be in the game longer than 90% of the average traders.

2. 

   Dayle danyadi-Reply

   July 14, 2017 at 12:16 pm

   This is fantastic advice, emotion controls the outcome. If only I knew that before I started trying to trade. Not long started and lost dramatically trying to teach myself and using practice account with a well know app. There is so much more I need to learn and get my head around before I plan on investing my money back into it. Is there any face to face seminars in the north west area I could attend that would push my future in trading

3. 

   Nick-Reply

   July 14, 2017 at 1:16 pm

   Charlie,

   Brilliant – thank you for taking time to share this. This topic is THE key to trading, and one that is glossed over by many traders as its slightly hard to deal with.

   Personally I believe its driven by experience (like so many things) …… it takes time, BUT we all want it now….

   Take care

   Nick (from a wet a windy NYC)

4. 

   Chris Brown-Reply

   July 14, 2017 at 9:00 pm

   From the four personality types ,sanguine, meloncolic , choleric and phlegmatic it is with unquestionable doubt that the choleric that needs to sort out their emotions .personally l am sanguine / meloncolic ! .