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Whatever your particular style of trading is, it can be extremely useful to quantifiably understand your feelings as you make investment decisions. But be forewarned, I can promise you that it won’t be an easy thing to do! In order to gain any long term endurance in trading however, it is imperative that you learn this useful skill.
You, along with the rest of us, are undoubtedly going to come up with some strong feelings of frustration, anger and fury. This is something that we at Trader Psyches hear about all too often. Feelings of anger and frustration often drive traders to the brink with an irrational outburst of a zillion trades that do nothing but destroy your account. Or, they simply turn bad days into worse days... To help put an end to these scenarios, it is essential that you recognize the common misconceptions about anger as an un-useful emotion.
First of all anger is just a feeling (albeit an uncomfortable one). Secondly, anger in and of itself cannot make or lose you money! In light of that awareness, why not employ anger for one of its most powerful uses, to protect you from making large and increasingly detrimental mistakes!
Or, in more simplistic terms…get-up-and-walk-away. Get some exercise, exert some physical energy! Punch a PILLOW if need be....
In some cases it’s just that easy. Other times however, especially when our emotions are hidden from us, it will be more challenging to pin down the problem. That is why Trader Psyches is dedicated to helping you through your most challenging times as a trader.
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