Successful Trader Must-Haves by Claudio Demb
How often have you sat at your trading desk with a solid plan that you want to follow and how often, after placing a trade, have you deviated from that plan? Emotions can wreak havoc on our trading lives and there’s nothing you can do to make them disappear. The first step toward combating them is to be aware of the existence of emotions.
I am tempted to start with the end and give away the punch line. So here it goes: Psychology is destiny. I agree that it sounds very categorical, and whether or not this is true doesn’t really matter. You still have to go through the motions. As a good friend of mine often said, “Not everything is psychological.” I know that what he said is true, but to be fair, he had to learn to deal with his emotional issues in order to become a good trader ...