I saw this segment in one of the ebooks I was reading... and it made alot of sense for me. Its probably one of the more important things about being a trader - Balance!
Since I can't cut and paste from the document... here it is...re-typed. Forgive any typos pls.
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Do you know why you trade?
Is it the fun and excitement, the sheer nerve-jangling, adrenaline rush that comes from trading the world's financial markets?
Perhaps you enjoy status of being a trader? " Hi - John Doe - Futures Trader - Nice to meet you..."
For some traders, it's an escape. They hate the world around them - their job, their boss, their spouse, their whole life in fact. Trading then becomes a fantasy to slip into at will.
The fact is, trading has to be about one thing.
Making a profit.
If you do it for any other reason, you are probably doomed to failure, because you'll operate from emotion instead of the cold, mechanical thinking that's the hallmark of a good trader.
Look at your own motivations for trading. See if you can discover a hidden agenda. If there's something missing in your life that trading is currently filling, then you need to address that.
Live a balanced life, Don't spend the whole day trading. Meet people. Get out! Start a new business. Find new interests.
Keep your trading desk free from emotional clutter.
Technical Analysis of the Forex Spot Markets using Elliott Waves, Chart Patterns, Candlesticks and other tools. Disclaimer: None of the comments in this blog shall be construed as professional trading or investment advice.
