95% of traders lose day before reaching even the first base of travel business. It is a brutal reality that very few succeed, not least because the market is stacked against you, that is, of course, why there is a lot of competition from trading platforms to win your client! You can easily learn the technical stuff to know when to enter and exit trades and stack the odds in your favor, but controlling your emotions is the bit that ultimately will disappoint you, unless you can learn ' discipline '.
Do not check yourself means that you will lose, if not immediately that it will happen eventually, because emotion will cloud your engineering judgement, managing money goes out of the window, and then, Bang!Receives only one trade to go wildly out of control, you have lost your Pot in the blink of an eye and a mountain climbing to get back above water-If you can ever.
If you have never entered a spread betting trade, or learn the discipline psychological control and management of money, here is what is almost certainly going to happen and cause a loss of your pot, or doing serious damage:
Go long on the FTSE 100 to 5000 with 10/sea and 20 breakpoint-loss.
Your intended for output to 5010 and make 100, but you don't do this because they are still!
5 minutes later went up 5050 and think "wow, I'm 500".
Then falls back to support at 5020 and euphoria is replaced by frustration.
Stay on the market because you're still 200 welcomed and "has been linked to retrace"
You're both bedazzled by raising your interruption do not move until dead.
Suddenly it reaches 4 995 and you're now 50 negative, and still is.
You don't want a loss, so you can move your stops further if you've stopped by.
Affects your home, now 200 down and think "There is NO WAY this will drop the past THIS area.
So doubles with another 10/point to capitalise on growth that has now started.
But hang on-it's started to drop back to fall another 25 units.
You are on the market now, BIG cannot afford to lose, so that you can move your stop again below the next mainstream support and double 35–40 per point.
Okay, it won't go in, you can see where will this! why took a massive loss or lost your entire pot is because you got bedazzled by the hope for a big win, then you can leave a profit making a loss, then added a losing position ...lost control of your emotions and managing the money initially replaced by greed, then by fear.
While you'll lose a night sleep a disastrous loss ruing, emotionally scarred, or reviewing for revenge on the market of the next day with another large trade or crashed and burned never marketed once again a good tradesperson will sleep like a baby. the lesson is that a good businessperson knows that DISCIPLINE is everything, we have obtained explanation + 10 or worst would have taken a break even knowing that another good trade is always around the corner.
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