Do you know why you trade? Is it the fun and excitement, the sheer nerve-racking adrenaline rush that comes from trading the stock markets? Maybe you enjoy the status of being a trader? You know, “Hi – John Doe, day trader, nice to meet you.” For some traders, it is an escape? They hate the world around them, their job, their boss, their spouse, and their whole life in fact. Trading has become a fantasy that they slip into at will. The fact is, trading has to be about one thing! MAKING MONEY!!! If you do it for any other reason, you are probably doomed to failure, because you’ll operate from emotion instead of the cold, mechanical thinking that’s the hallmark of a good trader. Look at your own motivations for trading. See if you can discover a hidden agenda. If there’s something missing in you life that trading is currently filling, then you need to address that.
Live a balanced life. Don’t spend the whole day trading. Meet people. Get out! Have some fun, take up hobbies with friends. Keep your trading desk free of emotional clutter.
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I hope you will learn from my years experience as a professional trader.