Control Greed in Your Trading
Ever Fallen Prey to Greed in Trading?
The audio version of this newsletter is available at the end of the post.
Have you ever…
Found yourself hesitating to take profits, convinced the market had more to offer?
Oversized on a "perfect setup"?
Extended your trading session even after having a winning streak?
If any of this sounds familiar, you might be battling the force of greed in your trading.
Greedy traders usually come from families who believe money is only deserved through hard work and sacrifice. Even when these traders win, they tend to sabotage their gains and give everything back to the market.
Ironically, many traders enter the market with dreams of escaping the 9-to-5 grind, only to find themselves trapped in another rat race chasing more wins, more profits, more money… nothing ever seems enough to fill the insatiable void. The worst thing is: while they may have a positive edge and the skills to execute it, it all goes to waste due to greed.
So, how can you break free from this destructive cycle?
In this newsletter, we’ll talk about greed, its real roots, its impacts on traders’ performance, and five effective techniques that are a must if you want to trade free from greed.
This week's task will boost your trading confidence, helping you be realistic with your targets and helping you pull the trigger to take profits at the right times.
Let’s dive in!