Ninja Talks EP 9: Despair and Hope
Despair and Hope, two sides of the same coin and the two emotions that rule your decision making.
In my 10+ years of trading experience, I'm not sure it's even possible to not feel or be aware of them in some way - what I'm saying is, I don't know if you can get rid of them entirely from your trading.
It may just be a constant (and natural) part of being a trader.
These days I use the intuition, awareness and knowledge about these two emotions to make the bulk of my money.
Techniques are autopilot at this point, same goes for money management, but psychology - hope - despair? They seem to be a daily "battle".
I put "battle" in quotes because, yes it's back and fourth but it doesn't need to be adversarial, do'ya know what I mean?
Too many Bambi traders run from despair and seek hope, but I use them differently - I use them as sensors of when to time an entry and exit perfectly - kinda like parking sensors on modern day cars, they're there to warn you - it's not good or bad, it's just warning you.
Hope this helps, follow for more Ninja Talks.
Nick
In my 10+ years of trading experience, I'm not sure it's even possible to not feel or be aware of them in some way - what I'm saying is, I don't know if you can get rid of them entirely from your trading.
It may just be a constant (and natural) part of being a trader.
These days I use the intuition, awareness and knowledge about these two emotions to make the bulk of my money.
Techniques are autopilot at this point, same goes for money management, but psychology - hope - despair? They seem to be a daily "battle".
I put "battle" in quotes because, yes it's back and fourth but it doesn't need to be adversarial, do'ya know what I mean?
Too many Bambi traders run from despair and seek hope, but I use them differently - I use them as sensors of when to time an entry and exit perfectly - kinda like parking sensors on modern day cars, they're there to warn you - it's not good or bad, it's just warning you.
Hope this helps, follow for more Ninja Talks.
Nick
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