In the world of trading, many people have big dreams of making quick money and getting rich through their strategies and market analysis. With a little initial success, self-confidence begins to inflate. At first, you may feel like you have found the “secret” that not everyone knows, and you think that the market is in your hands, so you start risking everything you have. As successes continue, confidence grows until you reach the point where you put everything on the line.
However, what you do not take into account is that the market is not static, and it can manipulate feelings and emotions. In one moment, the situation can turn against you. You find yourself losing a large part of your portfolio or even your entire capital in one trade. This is where the frustration phase begins, and accusations appear; “The market is fraudulent!”, “Everything is against us!”, and you completely forget that the problem is not in the market, but in your rash decisions based on overconfidence and unjustified.
Ultimately, trading is a profession that requires discipline and emotional control. The market is not biased, it is an open environment, moving based on complex factors that require wisdom and flexibility from you. Accusing the market of being a “scam” is just a way to escape the reality of lack of discipline and poor risk management.
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Between temporary success and complete collapse, the only difference is the trader’s ability to remain calm in each trade, and realize that the market is not subject to his personal desires. Learn from these lessons and avoid falling into the trap of overconfidence, because in the end, the market is unforgiving.