12: More psychology secrets

Sophisticated traders value their own psychology just as much they do their trading system. Underestimate the importance of your emotions and you’ll shoot yourself in the foot.

One thing that has become clear during the Mentor Program that I run with Chris Tate is that people are struggling to put the GFC behind them. It’s like some of the mentorees are stuck in the past.

Even though there is every reason to be optimistic about the future and the level of income you can achieve, it’s hard to focus on the positive when you keep looking at your mistakes. (And if you haven’t started trading yet, you can’t tell me that you haven’t been influenced by doom and gloom reports about the markets, or rumours about pensioners ...

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