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Trading Psychology: Mistakes in a Trading Environment
When it comes to trading, one of the most neglected subjects are those dealing with trading psychology. Most traders spend days, months and even years trying to find the right system. But having a system is just part of the game. Don?t get us wrong, it is very important to have a system that perfectly suits the trader, but it is as important as having a money management plan, or to understand all psychology barriers that may affect the trader decisions and other issues.
Most Forex trading courses and Forex training programs forget about these important aspects of trading. But the truth is that in order to succeed in this business, there must be a complete equilibrium between all important aspects of trading.
Money Management, Part 2
FEARING LOSSES
There is a huge difference between being risk averse and fearing losses. You must hate to lose. In fact, you can program your brain to find ways to not lose. But not losing is a logical thought-out process, rather than an emotion-based reaction.
Two human-based tendencies come into play. The first is the sunk-cost fallacy and the second is the exaggerated-loss syndrome.
Sunk-cost fallacy: You are in a trade that begins to go against you. You reason that you have already spent a commission, so you have costs to make up for. Moreover, you have spent time and effort researching and planning this trade. You reckon that time and effort as cost. You have waited for just such an opportunity and you are afraid that now that it has come you will have to miss this trade. The time spent waiting for opportunity is something you also count as cost. You don't want to waste all these costs, so you decide to give the trade a little more room. By the time you realize what you?ve done, the pain is almost overwhelming. Finally, you have to take your loss which is now much larger than it might have been. The size of the loss adds to your fear of ever losing again. The end result is brain lock and inability to pull the trigger on a trade.
Why Forex Traders Plan To Fail Before They Even Place Their First Trade & How You Can Know It & …
Have you heard the wise saying that a trader who fails to plan, plans to fail? I have, and I was once that trader! However, did you know that even though traders who have constructed a plan, which incorporates their trading stategy (their “edge”), they have a plan that is likely to fail?
If we look at all traders who participate in the market: we have one group that fails to plan and therefore plans to fail another group whose plan is failed and a third group who properly plans and therefore does not fail.
Trade Show Exhibitors Have Many Display Options
For everything, there is a season. This is also true in the trade show industry. You may be a first time exhibitor or a seasoned pro. You may have additional trade shows you want to attend that occur simultaneously or you may want to just test the waters before you leap into a new trade show arena. The choice is yours. The good news is that there are plenty of options you can choose from.
Before deciding on what type of trade show display booth you want, however, you must first determine your space size requirements and the number of trade shows you will be exhibiting in during the next year. This information will help you decide whether to buy vs. rent. If you buy, there are four categories of trade show exhibit displays: custom, custom modular, pre-owned and portable trade show displays. Check out the advantages and disadvantages of each. Light weight materials are less expensive to operate than the traditional all-wood displays.
Card Trading: Risks and Precautions
You can trade your cards in two different ways: face to face, or by postal mail. The first type of trading is performed at tournaments, at schools, or at the local comic shop, and you arrange the trades by checking the other person s cards directly, holding them in your hands. Otherwise, cards are traded by mail when the parties can not meet because they live far apart from each other.
Both ways of trading have their own risks and you can be ripped in both situations if you don t take the necessary precautions. Trading face to face is normally less dangerous, because you are seeing the material you are getting, and you receive it at the same time you give yours. Nevertheless, you can still be cheated in two ways. You may get counterfeit cards, or you may get cards whose value is far lower than the value of those you give.
