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Re: My Emotions and Ego destroyed my Forex account

14
The market absolutely loves taking money off people who trade by their emotions, they have no chance of ever winning even in the intermediate let alone long term. If you are not trading systematically you are not trading at all, you're just gambling and the casino (the market) will take your money all day every day.

There are hundreds of books that teach the basics of trading that you do need to know by only a few that teach how to control your risk taking and risk avoidance, two skills that are essential but which to use when?

The best by far is Mark Douglas 'Trading in the Zone'.

Life is a continuous flow of opportunities, how to decide which to accept and which to reject.

Re: My Emotions and Ego destroyed my Forex account

15
Ogee wrote: Fri Mar 25, 2022 2:17 am The market absolutely loves taking money off people who trade by their emotions, they have no chance of ever winning even in the intermediate let alone long term. If you are not trading systematically you are not trading at all, you're just gambling and the casino (the market) will take your money all day every day.

There are hundreds of books that teach the basics of trading that you do need to know by only a few that teach how to control your risk taking and risk avoidance, two skills that are essential but which to use when?

The best by far is Mark Douglas 'Trading in the Zone'.

Life is a continuous flow of opportunities, how to decide which to accept and which to reject.



Trading In The Zone - Douglas 2000.pdf
Superb book. Another good one is The Mental Game of Trading by Jared Tender. Some really good practical steps to identifying bad behaviours and then amending them.




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