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Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
The Good Voice versus The Bad Voice
How many times has this happened to you?
You have a client who knows how to make money. It’s apparent in the daily statements; they have a good winning percentage, consistent profits, etc. Everything’s moving along nicely until in seeps the Bad Voice.
The Bad Voice can motivate people to go down a slippery slope. Like a client -who is normally a day trader- decides to carry his/her losing position and make it into a swing trade. Or you are down and refuse to accept the fact it may be a losing day; so you double down and become aggressive with the intention, “if this trade is a winner, I’ll have another winning day.”
The Bad Voice: It’s in all of us all the time. It’s like when you are unbuckling your belt at a Las Vegas buffet but still decide to go back for another round of cake; or you decide to run the yellow light even though you’re running early to your next appointment. But when it comes to trading, there’s bigger risks involved than a traffic ticket or a tear in your pants. These bad choices can have a snow ball effect and turn a mediocre day into a bad day or a bad day into needing a stiff drink.
