Here are some tips on not letting those feelings of anxiety
affect your trading.
"Hope is not a strategy; itís a
simple emotion,Ē a retired army
general remarked. He was talking
about a war, but his comment
reminded me of trading. I
remembered trading situations
when hope was the only strategy
That could be said about almost
any emotion and trading.
Greed is not a strategy; itís a
simple emotion. Fear is not a strategy; itís a simple emotion.
Sometimes, unfortunately, fear, or greed, or hope, or determination
does become a traderís basic strategy. Trading becomes
dictated by emotion rather than a consistent strategy for
entering and exiting the market. The general was right; simple
emotions are not an effective strategy. A strategy built on
emotions will be inconsistent at best and disastrous at worst.