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Old 05-03-2008, 03:16 AM
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Re: Seven Habits of Ineffective Traders

I think the problem is that what we hold as something positive in society is in fact a fallacy in trading. Take instant gratification, which marketers tout as a right by consumers. Patience take a back, this is a virtue that is lost but very difficult to overcome because we've been conditioned for so long practicing this vice. This is the reason why many cannot and will not succeed by taking profits to early, which will end their overall winnings in the long run. Of course, by taking profits early invoke other emotion, regret, shoulda woulda coulda mentality which later on cause more anxiety and reckless trading (chasing, etc).

There are other habits that need to be suppressed or overcome in order to succeed.

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