CHAPTER 21

The Overly Dependent Trader

There is a constellation of personality traits that places a person at risk of becoming excessively dependent on others.

First let’s define the differences between dependent and independent traders. The dependent trader is always looking for quick, easy, and instant profits, without putting in the legwork to earn them. He follows the crowd, especially the crowd that is wrong. He gets into trades based not on real knowledge or wisdom, but on the latest “hot tip” or what he perceives as “insider information” which in fact is nothing more than worthless information that everyone has access to. The dependent trader often turns to fully automated (no effort or thinking required) and overhyped trading systems ...

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