Fear, greed and hope

Discussion in 'Psychology' started by retaildaytrader, Sep 15, 2009.

  1. The worst enemies known to mankind are fear, greed and hope.

    Fear- You fear to buy right now because you believe the market has topped. You feared to buy in March because you believed the markets were not at a bottom.

    Greed- You are greedy and want more cash from a trade forcing you to ride it longer then you should ignoring reliable strategies and indicators.

    Hope- You hope the market will go up...you hope the market will go down....
  2. Agreed! Jesse Livermore said this is what moved the markets
  3. You list three nouns.

    Nouns are rather complicated things.

    If any of those three abstract nouns are embraced by the trader, then the trader engages in the most UNPROFITABLE verb in any trading vocabulary which is CHASE.

    If and when you CHASE, you will most likely LOSE.

    It matters little what your motivation, it only matters if you CHASE.