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Overconfidence

When traders are hot and seemingly cannot lose: When they make several trades that perform exceedingly well, there is a surge of human pride. They feel like the pitcher who strikes out the side for all nine innings of baseball. They feel invincible, brilliant, and master traders to say the least. When a trader feels like that he thinks he can do no wrong and make no mistakes. He comes to believe a...
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Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.