For a trader it makes sense to have a working assumption that Mr. Market wants to take away his money. No, there is no superhuman intelligence conspiring against us - it's just that we ourselves are emotionally hard-wired... to lose. At some point or another, we all allow emotions to take control. We can't help feeling fearful and down if a position moves against us, and we all become overly confident after a series of good trades.
A trader tries to win against the entire world - a world, which is full of better traders than he is - as well as against vast numbers of people who may not be very good, but they just happen to be in a lucky streak... He also plays against himself, against his own nature.
How crazy has one to be to think that he can make a living trading? Or, even if he succeeds, hasn't he sacrificed too much of his own humanity, having learned to control his emotions consistently, in such a weird and contrarian way?
It is easy to be a successful trader. All you need to do is become less human. Enter and exit every transaction without a trace of emotion... simply because your setups dictate your actions. Think about your hard earned dollars as if they were worthless virtual chips. Cannot be done? Well, ladies and gents, that's exactly my point.... Trading means living a paradox. |
