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  1. #1
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    "Zen masters" of trading

    Hi there!

    There is a popular myth that professional trader should be like "zen master", never letting greed and fear appear in his mind. This idealistic picture has nothing similar with reality.

    In fact, professional traders are quite different people. One can be really calm, other can be very emotional.
    But what really distinguishes pro from amateur - pro never brings his emotions to trading.

    There is one funny example, that Mike Bellafiore (Mike is an owner of large proprietary trading firm in NY) tells in his book "Playbook". Traders were sitting near their workplaces, suddenly one of them sreamed and broke the keyboard. Nobody said a word, and he just gave him a new one. In the end of the month, this trader will be charged 25 USD and that's it.

    So, emotions are normal, we can't eliminate emtions and this is not realistic.

    I would suggest to focus on more realistic goals - to follow your plan, to increase self-awareness or to execute your trades better. But not to eliminate emotions. The more you trade, the less emotional pressure you will have. It's natural thing and if you fight emotions you won't win.

    Maybe if pressure is unbearable, it's useful to lower you risk.

    Another famous example is well-known George Soros. He was so emotional, that he felt pain in his neck when something was going to go wrong.

    Bottom line: don't fight it, focus on what you can change. There is a lot to change in your trading :)

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    Last edited by Value trader; 08-09-2013 at 01:09 AM.

  2. #421
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    Quote Originally Posted by Hukam View Post
    Lack of knowledge is a common problem for trader's buy yeah mate this can be improve by learning well from our losses, We have a lot of time to improve ourself and there is no need of quick action, we should do trade with proper analysis and correction. Trader who will get a long term experience here he will surely able to know the top money making ways for him.
    It is not always about the knowledge my friend, traders who are even knowledgeable are losing in the market. And if I may ask you, do you think any trader is present in this market without learning? I do not think so. But the right thing is the way the trader will use what they know to their advantage in the market. That is what many traders lack.

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  3. #422
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    Quote Originally Posted by silverlady View Post
    it is possible to make success in any business when you have the money and the knowledge of the business. the advantage i know in forex is the big money we can get with the small money we have. and traders should try not to do it with greed and emotion that will make them lose.
    We have to stop our greed and emotion in trading, there is no doubt in it that if you are working nicely then for sure one day it will come when you will able to make good amount of profit within any kind of capital. Low amount of capital can be converted in big amount of money, and I have seen a lot of people like this who have done this in forex.

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  4. #423
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    Trading is a voyage that can endure forever. While 'buying low, and selling high,' may sound basic enough; in reality, productive trading is extensively more troublesome than simply buying when price goes down, or selling when price moves higher. A trader's Forex training can navigate an assortment of economic situations and trading styles.

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