1.They do not understand that the
markets are a mirror of life on a chart. Markets are a living thing and reflect
crowd behavior, the trader are one of the crowd too.
2.They fail to understand their own personality and what that means
for their trading style.
3.They fail to notice how they
transfer their feelings and emotions to their trading and believe that the
emotions they pick up from other traders and the markets are theirs.
Feelings are unpopular with traders, big mistake!
4.They have unresolved psychological blockages which
they supress with superficial positive thinking and learned
discipline. We all have blocks, to think that you are the one who has not is
dangerous arrogance.
5. And finally add to this one most important point for the beginning
trader: Under capitalization due to unrealistic expectations and poor
trader training. The recipe for trading failure is complete.
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