I wrote about a seminar called Teach Me To Trade earlier this year, and a visitor left an interesting comment last night. Spike (not my alter ego, a different Spike) wrote:
When people ask me about learning to trade well, my first question of them is, “Have you ever seen Star Trek?” and then I wonder just how willing they are to declare war on their emotions and change their behavior to trade like a pointy-eared Vulcan.
Ultimately, that is what it takes; the will to drive all negative trade-killing emotion out of the equation and stubbornly trade a great risk/reward plan that you were smart enough to think of before entering the trade. Trading well and making money isn’t rocket science; it’s just a matter of forming good habits.
All one needs is a) Patience to stalk the trade, b) Good risk/reward planning, c) Ability to enter hard stops and sensible targets, and d) Ability to ignore greed and fear and hope. Trade like a Vulcan, limit losses, and let profits grow, and you’re on your way!
Taking emotions completely out of the picture is going to be difficult for any human. Our brains are wired for emotional responses.
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