All Serious Mistakes Have Pride
In the complex world of financial trading, one of the most unique and challenging things is not only understanding the markets but also understanding yourself. A trader's psychology can be the deciding factor between success and failure. In essence, all the most serious mistakes in trading often come from an excessively large ego, an unnecessary arrogance.
“If you are content, you will not be humiliated, if you are satisfied, you will not be treated.” - Confucius
"Sufficiency" means knowing enough, knowing how to be satisfied with what you have.
"Unhumiliated" means not being humiliated, not falling into a regrettable situation.
"Tri chi" means knowing how to stop.
"No treatment" means no danger, no disaster. People who know enough will not be humiliated because of insatiable greed. People who know how to stop at the right time will avoid unnecessary dangers.
Overconfident traders often believe that they have the ability to predict market trends without having to adhere to rules or fundamentals.
They forget the prerequisite for survival which is "Sufficiency". They act innocently, always ready to take everything in sight, not even knowing if it is really necessary and suitable or not. Then always keep in mind a position waiting to jump into the market at any time.
