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Trading is the last frontier
2 . Do you really want to succeed?
For many years I had a friend who had a fat wife. She was an elegant dresser and
she had been on a diet since I knew her. She said she wanted to lose
weight and she didn't eat cakes and potatoes in front of people, but when I walked into
her kitchen, I saw her scratching it with a big fork. She said she wanted to be slim, but
remained fat.
The short-term pleasure of eating turned out to be stronger for her than the delayed pleasure.
and the health benefits of weight loss. My friend's wife reminded me of so many
traders who say they want to succeed, but continue to make impulsive trades – going
for the short-term thrill of gambling in the markets.
People cheat and play with themselves. Lying to others is bad, but lying
to yourself is hopeless. Bookstores are full of good diet books, but the world
is still full of overweight people
This series of articles about trading will teach you how to analyze and trade markets, control risks and
deal with your mind. I can give you knowledge. Only you can provide
motivation.
And remember: an athlete who wants to engage in risky sports must comply with safety regulations.
rules. When you reduce risks, you get an additional sense of accomplishment and competitiveness.
The troll. The same goes for trading.
You will be able to succeed in trading only if you treat it as a serious intellectual activity. Emotional
trading is deadly. To succeed, practice defensive money management. A good trader
watches his capital as closely as a professional scuba diver watches his air reserves.
To understand the whole concept, read sequentially, starting with number 1.
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