Not placing in stoploss. The ego dose not plan to be proven wrong.
Pausing before putting on a trade. The ego wants reassurance before it begins.
Over-trading. The ego desires to prove itself big time.
Obtaining stuck in a trade. The ego has intertwined itself through a trade and is holding on for dear life. It are unable to cut out. The ego dose not want to be incorrect.
Putting to a losing trade. The ego digs its hole deeper in a massive effort to crawl out.
Grabbing a profit too soon. The ego wants a pat on the back
Many people take to trading in the mistaken belief that it is the simplest way of making money. Far from it, I believe it is the easiest way of losing money. There is an old Wall Street adage, that “the easiest way of making a small fortune in the markets is having a large fortune”. This game is by no means for the faint hearted. And, this battle is not won or lost during trading hours but before the markets open but through a disciplined approach to trading.
1. A successful trader has a trading plan and does his homework diligently
2. A successful trader avoids overtrading
3. A successful trader does not get unnerved by losses
4. A successful trader tries to capture the large market moves
5. A successful trader always keeps learning
6. A successful trader always tries to make some money with
less risky strategies as well
7. A successful trader treats trading as a business and keeps
a positive attitude
8. A successful trader never blames the market
9. A disciplined trader keeps a cushion
10. A successful trader knows there is no Holy Grail in the market
People don’t believe how simple it is to accumulate a significant amount of wealth, but it really is quite easy. All you need is a bit of discipline and to know the three steps necessary anyone can take to grow a significant net worth. The steps are:
1. Spend less than you earn. This is THE key to getting rich. Said another way, save a portion of all you make.
To spend less than you earn, you may need to earn more or spend less.
2. Invest your savings regularly in good, solid investments. I like index funds.
3. Do this for a long time, letting the power of time and compounding work for you.
Yes, it’s that easy.
Yesterday, When I was reading articles on “Successful People Do To Reach Their Dreams”. Few things that these hungry and unstoppable people did to see the success they all eventually achieved. I read about Risk Point which is always existence. If you have strength to fight with Risky without surrender your self. Then you can be winner. Well…read what i read!
No risk, no reward. Yes it’s an over-used, cliché of a phrase. But it’s true. Those who have achieved real success have often risked the most to get there.
There have been billions of people throughout history who have had the ability to achieve greatness, whether it was the talent or smarts, they had it. What they didn’t have was the guts to risk the life that they were living. They also didn’t have the work ethic to see their talent realized.
The greatest tragedy in life is wasted talent ~ A Bronx Tale
Your big, audacious dream might be to marry the girl of your dreams and have a family with her. You risk might be to leave the career that you love in order to support her and your family. Your dream might be to help millions live longer, healthier lives. Whatever your dream is, give it enough of a chance to be realized.
Risk if you truly want to see the reward.
Find your dream. Then risk everything to get it.