Trading Articles by Edward Kingston
Fear and Greed, the two biggest Emotional Enemies of Day Traders and their Online Day Trading Systems
Trading the markets using technical analysis and many different trading strategies has always been only a dream for almost all of those who seek to prosper from currency trading, options trading or stock futures trading in many ways unimaginable by the common man. It gives those that succeed at online day trading a quality of life that can only be dreamed of by most people. It does not matter how high paying a job or business an individual might have, it always comes at a costly price. That price paid by many is in the form of precious time which is definitely not paid in the scalp trading business, if done right. Time is like the water flowing in a river, it never passes the same course twice.
Those that succeed at online futures trading have changed their lives forever for the better. Once they are past the learning curve of online stock trading, time becomes their own. The day trader does not have to worry about employees or employers any more. They do not have to answer to anyone but themselves and their day trading systems. They are pretty much free to do what they wish to do and live their lives as they choose to. Their online commodity trading day can last as long as they want it to last. The forex currency trader can do it from anywhere in the world as long as he has a computer and an Internet connection. He can choose to take on any other form of work just for fun rather than from a financial need side and can stop it just as easily too.
Forex Trading is simple, yet not easy either. Many come to the forex market thinking it is really easy to make money trading commodities. This is so far away from the truth. Trading currencies or even trading stocks online is not as easy as everybody thinks it to be. Some people think that using forex trading software can make them tons of money, which is again not true either. Anyone who wants to become a day trader should really make sure that they understand themselves completely. They must be prepared for it like any other business with adequate knowledge, a solid trading plan and a lot of practice. The biggest challenge faced by all traders is the battle within themselves. Traders must learn to achieve a state of discipline that completely eliminates the two biggest emotions every trader must fight with. They are FEAR and GREED. It takes a lot of effort on the part of the trader to completely eliminate fear and greed from their system completely. Once eliminated, a trader can reach heights that few can only dare to dream.
It definitely takes a lot of time and effort to overcome fear and greed while day trading stocks. And IT is the ONLY WAY to succeed as a trader. It requires a trader to spend as much time practicing after the market close as he or she might spend actually watching and trading the markets as taught by the Watts Online Trading System. But in the end it is all worth it as the rewards are very satisfying. Trading is all about risk and not too many people want to take on a lot of it in life. But with knowledge and discipline, risks can be managed and controlled, which in turn lets the rewards roll in.
Good Luck with your trading journey.