Overcoming Frustration in Trading
Saturday, October 3, 2009
Via TraderFeed:
If I had to name one emotion that causes the greatest losses among active traders, it would be frustration. Overconfidence is certainly high on the list, but the market has a way of smacking sense into the heads of people who start feeling invulnerable. Frustration, on the other hand, leads traders to compound their errors by sticking to wrong opinions and overtrading markets that offer little opportunity. Overconfident traders will generally stop trading once they’re humbled; frustrated traders generate more frustration and trade larger, with more risk.
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