REALITY # 1:
When it comes to trading real money for a living... YOU ARE YOUR OWN WORST ENEMY. Our emotions (fear and greed) coupled with confusion can make us do some ridiculous things in the heat of battle.
Many studies have found that nearly half of all trading losses are attributable to over-compensation based upon fear or greed.
Learning to control your emotions and to develop a logical, structured discipline for trading is a daunting task, but it is a critical key to your success as a trader.
REALITY # 2:
You earn your money from trading. TRADING IS A BUSINESS! This is not a game of chance like a craps table in a gambling casino or hitting your lucky number in the Lotto drawing. This is all about defining the probabilities of success and targeting only those opportunities that have much greater than average odds at producing a positive outcome.
Trading requires discipline, patience, and total focus.
As a business owner in your own trading business, you are looking for proven methods that produce returns on capital greater than other endeavours.