Logical, Not Emotional
A successful trader is logical, not emotional. They realize that what they 'want' is irrelevent to the market and that the market will not always do what is expected.
The successful trader realizes that their 'job' is to make decisions that put the odds in their favor, and they react to the what the market is telling them. Emotions (such as anger, fits of profanity, screams of joy, etc) are not in the toolbag of most successful traders. Instead, cool, composed logic and sounds decisions are key.
For example, during the while trading environments of September and October 2008, an emotional trader may have lost their bearings with the wild action, while the cool-headed logical trader simply continued to follow his/her trading plan, and rack in the cash.
Keep your head about you. Don't panic, don't become euphoric. While the market is open, try to keep yourself at a steady mental state, logical and composed, ready for whatever the market throws your way. |
