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When your money is on the line, you can't help but feel a little uneasy. What if you lose? It's hard not to put some of your ego on the line with your money, and when you lose, feel hurt. Winning traders, though, keep cool. They don't ride a roller coaster ride of emotions, feeling euphoric after a win and beaten after a loss. They take losses in stride. However, it's hard to stay objective and co...
Which would you be willing to part with first, your money or your self-esteem? If you are like most traders, you are likely to let your money go before your self-esteem. Trading stories are full of traders who gladly fed losing trades to avoid admitting the fact that they made a mistake. They hoped against hope that a losing trade would turn around if they could merely wait long enough. In the en...
The majority of traders might think it would be impossible to trade in an "ego-less state", but this is not the case. To trade in an ego-less state means simply to not let the ego and emotions get involved. While trading in an ego-less state, winning or losing on a single trade become almost meaningless when the focus lies only on the whole picture. This is the soul of ego-less trading. Trading wi...