Has A New Gold Bull Market Begun?, page-142

nice post nihilism.....

you are probably one of the very few here with a knowledge of what trading really is about.

And that's a very important lesson, you mention.....the fear of missing out and chasing a stretched break. It takes some time to overcome that. Not many can. 25 million people in Aus, ditto Canada......best I can find on social media is about 20/30 really successful traders....so very rare.(I'm sure their is a few more, but still rare)


1..If you are great at timing entries.....True. But that's all you can do. The trade can do whatever it wants after that, and you have no control. And that's where a lot come unstuck. Sometimes it's easier to pull the plug on a trade that moves against you quickly, but for those trades that drift down the chance of pulling the trade is lost on most as they think the slow grind down is a sign of strength and patiently wait for the rebound....that never occurs.

2....you can never pick maximum profit. Impossible, as the trade will do whatever it wants....it could even double after you sell....I am being a bit simplistic here for the post.....but as I said, most folk pull too early. The Daytrading thread is full of them.They can't stand the thought of losing whatever profit the trade has given them, and as the are ambivalent about the gain.....but in absolute total fear of losing that gain, no matter what size...they sell. The pain of fear of losing that profit never goes away, so they fail to grow as a trader and so stay year after year on the D/T thread, failing to reach their true potential.

I think the fact that u can speak of the pyschology of trading, over and above charting, shows you have a good handle on what being a real traders is.......10% charting, 90% pyschology.....and the ability to ponder that over and above everyone else is what makes a trader grow. Shame there is not more like u here, so that we can all learn more......well not learning, but a matter of waking up and becoming aware of tradings true potential.

regards.