I am witness to two trader-friend's who appear to be heading for ruin.I really want them to succeed , but from my grandstand seat ,succeeding looks to be a remote possibility at best. Please share your own or trader's you witnessed war-stories concerning trading denials & rationalizations during the learning curve. Hopefully my friends will see themselve's thru these post and make changes.I am having a difficult time being "devil's (trader's) advocate" .You see someone hurting themselves yet to speak up you become the "SOB" of the moment. I'm not a parent but I see that I would have trouble practicing tough love. thanks in advance
It is very tough to see that, I have the same experience myself. The problem is that we all know that we are just as capable of those bad things as the next guy, so it is hard to really come down on somebody for acting human. The whole rationalization and denial thing is the one common thread that keeps people from getting rich and we all fight it all the time, nobody is immune. Having a hard stop loss point is the only answer I have found.