The psychology of investing not only affects individual investors but also affects the market as a whole. Many investors often underestimate or are unaware of the affects that our emotions have on our return on investment.
After the long weekend, we enter a busy week of economic data releases. Durable goods data was released earlier this morning coming in well above expectations, jumping .8 percent after analysts forecast a decline of .8 percent. Ex-transportation numbers show durable goods orders with a tenth of a percent rise. This is a leading indicator of positive economic growth.
Everyone talks about discipline and trading. It's probably not a stretch to say that discipline could be the most common word used in trading. I have received many, many emails over the years from traders asking me how they can improve their discipline.
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