Why You Can't Let Your Emotions Lead You Astray

Our emotions may be a major part of our lives as human beings, but they frequently lead us astray when we need to make rational decisions.

Hey Trader,

Our emotions may be a major part of our lives as human beings, but they frequently lead us astray when we need to make rational decisions. When it comes to trading, the latter point is almost always true. As a result, having an emotional reaction to something that happens in the market can push traders to make poor decisions. And if we do wind up in a losing trade, how we handle it has a long-term effect on our entire trading strategy. It's okay to feel upset when you've done everything correctly yet still come up short. But there is a proper way to deal with your emotional reaction to a loss. After years of being in the markets, I have developed some insightful tips on how to handle your emotional response to a losing trade in a way that won't prevent you from taking the necessary risks to win in the future.

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WORDS TO TRADE BY

"The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer." — Nolan Bushnell There's a well-demarcated line that divides dreaming from doing. Those who genuinely want to realize their dreams know that the rubber has to meet the road at some point. That can be difficult for people who are natural procrastinators. But to get anything done, you have to do it. You have to stop making excuses and get to work. No matter how small that first step is, take it! That's the only way to start walking the path of success. The best traders and business leaders didn't gain their success by daydreaming. Instead, they took their vision and made it a reality. You have to do the same! Keep Trading,

Hypothetical or Simulated Results Our educational products rely upon hypothetical or simulated performance results. These results have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

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