Understanding these two demons inside you is the only thing you need to become a Trader .
And these two things cannot be taught , it has to be learnt , how these impact you .
Technical analysis tools , whatever it may be only tell us to buy what goes up and sell what goes down .But inspite of some of us learning 100's of TA tools , cannot make any money .
A lot of self introspection is needed to understand the two real demons which not only deny us any money but also robs us of the money earned from some other means.
If many of us have a lot of loosing trades, this means - Greed has taken control of the traders mind.
If some of us never had big winners this means, that fear has taken control of this trader.
Ask this question to yourself: are you trying to see into the future ? if u are trying to do this , you are trying to play god , as only he can see it and non of the humans can do it ? Are you under stress after entering a trade , trying to figure out the top ? Then you are trying to play god , and god will not be too pleased with you trying to be him .
If you want to have any chance in this profession , then you have to overpower the two enemy within yourself , and to overpower them you should first know them , when and where are they effecting you . I will again repeat that no amount of reading will teach you this , it has to be learnt thru self introspection .
For a brief introduction to these inner demons , Greed -takes away your money -little by little , whereas Fear -will not let you have vast wealth .
And these two things cannot be taught , it has to be learnt , how these impact you .
Technical analysis tools , whatever it may be only tell us to buy what goes up and sell what goes down .But inspite of some of us learning 100's of TA tools , cannot make any money .
A lot of self introspection is needed to understand the two real demons which not only deny us any money but also robs us of the money earned from some other means.
If many of us have a lot of loosing trades, this means - Greed has taken control of the traders mind.
If some of us never had big winners this means, that fear has taken control of this trader.
Ask this question to yourself: are you trying to see into the future ? if u are trying to do this , you are trying to play god , as only he can see it and non of the humans can do it ? Are you under stress after entering a trade , trying to figure out the top ? Then you are trying to play god , and god will not be too pleased with you trying to be him .
If you want to have any chance in this profession , then you have to overpower the two enemy within yourself , and to overpower them you should first know them , when and where are they effecting you . I will again repeat that no amount of reading will teach you this , it has to be learnt thru self introspection .
For a brief introduction to these inner demons , Greed -takes away your money -little by little , whereas Fear -will not let you have vast wealth .
