Jan 30, 2015
In today’s podcast we will talk about Greed and Fear and how they affect you as a trader. These two emotion cause so much havoc even for the experienced trader. Everyone wants to make as much money as possible but then gets out too early before the direction changes. How many of us as traders have stayed in too long and watched our profits decline. All the while thinking the trade would turn back in our direction. Or getting out too quick and watching the call we made continue in the predicted direction for a substantial amount after we closed the trade. Both Greed and Fear can make us highly frustrated and then we start taking risk we shouldn't and then lose any ground we made. How do you solve this, discipline is the best mantra. "Plan the Trade and Trade the Plan"