Senin, 11 April 2011

Aunty Kutha Nakanu Ninna Nite 2

This is not to say that the trader does not have value to bring – he does. In moments of clear, objective contemplation, many traders – even novices – can be builders of excellent trading systems. These systems can take advantage of their understanding of the forces of forex and test out incredibly. Once live, however, the system falls apart. Why? The simple reason is that emotion has no place in trading. Emotion causes the trader to act differently following large wins or losses. Emotion causes the trader to act irrationally when large moves occur. Emotion causes the trader to apply his trading system inconsistently. If you took a survey of successful traders you would find many similarities. The traders would understand and apply all of the forces of forex. They would usually trade incredibly simple trading systems. They would trade using conservative, well thought out money management philosophies, and they would trade with absolute consistency.

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