A trader lives two lives.
Trading is a psychological battle. Trading is unique because it constantly introduces you to yourself, as an astute Canadian once told me. Your life can manifests itself in trading and if you aren’t careful trading will take over your life.
The problem with risking/losing too much is that it makes every risk seem worthwhile. Much has been talked about rouge trading lately. Risk is forever and constantly linked to opportunity. A rogue trader is someone who loses. But in reality they never changed. They just happened to be on the wrong side.
They capture risk instead of realizing it up until that point.
The difference is that when you are winning you are partially protected by your view of opportunity. When your back is against the wall you can only see opportunity. My experience tells me that in fact bad can get worst and it gets their with regularity.
Hope and opportunity is not a trading strategy. When you only see opportunity or profits, you are not seeing it correctly.
You swing for the fences with their money not yours. The risks are less and with a reason. Opportunity should not be a bright light your drawn to like a moth.
Have your limits and stick to them. Don’t let your lives blend into each other and you will be less likely to have this problem.
The problem with risking/losing too much is that it makes every risk seem worthwhile. Much has been talked about rouge trading lately. Risk is forever and constantly linked to opportunity. A rogue trader is someone who loses. But in reality they never changed. They just happened to be on the wrong side.
They capture risk instead of realizing it up until that point.
The difference is that when you are winning you are partially protected by your view of opportunity. When your back is against the wall you can only see opportunity. My experience tells me that in fact bad can get worst and it gets their with regularity.
Hope and opportunity is not a trading strategy. When you only see opportunity or profits, you are not seeing it correctly.
You swing for the fences with their money not yours. The risks are less and with a reason. Opportunity should not be a bright light your drawn to like a moth.
Have your limits and stick to them. Don’t let your lives blend into each other and you will be less likely to have this problem.
