The trader’s greatest threat is present from the very beginning of the journey, and as it progresses, it grows larger.
Trading is a demanding profession, and to make a living from it, a high degree of commitment is necessary. Still, above all, a mental shift is required to manage emotions and acquire knowledge. And here appears the trader’s greatest threat, which is: Haste, which will sabotage the mental shift from the very beginning.
Trading has the unique characteristic that you must chart your own learning path, and this requires a great deal of discipline, patience, and tolerance Many traders are quickly caught up in the rush, especially if they have a short-term financial need to fulfill. This is why they begin a frantic race to reach the top as quickly as possible, which means skipping every possible step. When you’re possessed by the rush, the chances of falling behind and losing a large part of your capital are very high. However, even though many traders know this can happen, they press on without learning the necessary lessons.
Trading from a rush perspective is like being permanently on an emotional rollercoaster, because in an instant you go from euphoria to depression, from smiling to anger and hatred towards everything around you. And trading like that is… utter madness. If you want to delve deeper into this topic, below you’ll find the audio of my appearance on the Capital Street program hosted by Luis Blanco on Capital Radio
Are you a prisoner of haste, or have you been under its control? What have you done to eliminate it?
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