mercredi 14 août 2013

Confessions of a trader

Like many people, I came to the world of Trading hoping to make money quickly, take some courses at a distance, opened a real account - which obviously lost-and so began my journey in the difficult world of trading. It was not easy, many times I almost quit, then resumed harder and win, but it was very difficult. It was the most difficult journey of my life, that is already more than six years ago, today I see with nostalgia that time, and every time I have a chance to talk with rookies in the Trading, I make the Trading emphasize this, that the way is difficult, it is hard, but the reward is great.
 
6 years ago I wish someone advise me, to tell me so much of trading, but not, in this market there are few people who tell it like it is, there are few who will paint the reality of the Trading with words. I will try to do in these confessions, and I hope you take them into account.
 
All that started in the world of trading we plan to get the holy strategy that high profits, and we ignore certain "details", these details end reducing our real account to zero, what details speak? Emotional control and proper risk management, people in the Trading neophytes tend to minimize these two components, but I here tell that these two is the most important components of Trading, are the basis of success, a good strategy is ideal, but is achieved with time, skills are learned quickly, but learning emotional control and proper risk management is an arduous task, it is difficult and can take years to some and others a lifetime.
 
My students ask me if the emotional control can be taught, I tell them no, you can instill yes, but it is difficult to teach it all depends on the student, their willingness to absorb the experiences of others and self. Self-knowledge is essential, if you do not know can never master the Trading, to be successful consistently over time, you must know yourself, know your strengths and weaknesses in the Trading, and on that basis decides what kind of Trader wants to be, to decide what time horizon you want to work. It is not easy. A cost me two years to understand this, I opened live accounts, I lost money itself, I operated in charts 1 minute, 5 minutes, 15 minutes, 30 minutes, I had trouble closing loosing trades, it was hard to take losses, stretching my stop loss, and became lost in loss 30 pips 100 pips, also cost me close the winning trades, if I was going earning 40 pips closed that operation, even when my system did not show what, usually gains 80 pips 40pips became only because of my anxiety.
   
What happened to me? Well, anxiety and fear dominated my Trading, eventually GOOD TRADING learned to do what is good Trading? Well, it's a point at which the trader does not flinch if he won or lost in an operation, which gives you the same win or loose 50pips 100pips, the end of the day is likely only interested in making well Trading and be disciplined with your system. Is it easy to get to this point? It is not, but does it have to cost you years and thousands of dollars, you can start to educate, not to trust those who incite you to open live accounts quickly, one must open a real account only and only if you feel really safe and when you obtained consistent results after 4-6 months of demo accounts.
   
As I said, self-knowledge is the way to get to do GOOD TRADING, seems difficult, and it is. Most people entering the world of Trading, do so with the hope of earning a lot of money, the Trading attracts people risk lovers and repels conservatives. Unfortunately risk lovers, not control their emotions in the Trading and end devouring their accounts. Like a risk lover can control your emotions? Here is a great contradiction, and is one reason why there are so few consistent winners Traders in time. However, there are exceptions to the rule, some Traders manage their emotions innately, other (mostly) learn to control their emotions with time and experience.
 
Some say I am very hard to talk so good is the fact that I lived in the Trading and I hope you dear reader Ignores my words. And do not be swayed by junk mail in which they talk about yields 30%, 40%, 50% monthly, or those that make them real quickly open accounts. Remember that the only person concerned about their welfare is yourself and no one else, so educate yourself.  
 
You must decide who you want to be, be a consistent loser, or go the way of GOOD TRADING, properly educate and enhance the features that I have mentioned. From you depend on your success or failure in the world of Trading.


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