Some people will read the title of this blog post and shudder, some will know it is a part of the game and have no problem with it.
This may make a few feel better about their £2 red!
From a personal standpoint I do not much like taking a loss but have learnt to find joy in when the market proves you right and you got out at the right time.
What separates the winnings traders from the losing ones?
If you ask me what the number one thing that defines a good trader is (apart from discipline and bankroll management) I would say choosing good entry and exit points. It is almost an art form because hitting the perfect entry and exit point is near impossible. However, hitting ‘good’ and profitable ones is very achievable if you know what to look out for.
Greed can be defined as ‘Intense or selfish desire for something, wealth, food or power.’ So greed is an emotion? Correct, trading is an emotional game; well actually trading is an emotional war with oneself. So you need to be able to detach yourself from your emotions when trading otherwise the dreaded greed will get you and you shall be on a fast ticket to blowing that bank.
