so many times i see traders jump at small or big profits which they themselves know was more of a fluke or stroke of luck.
one way to know whether any profit was a fluke or pre-conceived is to ask oneself - will i fear in the similar trade next time? would i enter another trade with the same logic/method/reason? did i have one?
if u r fearful, in most likelihood, u were lucky. it was chance that trade went right.
if it is not repeatable, it is a fluke, or to put in more respectfully, a lucky trade.
this is precisely the reason why we see traders make money in a trade and lose it all (if not more) in the very next.
winning an occasional trade is good enough motivation for amateur traders to keep losing!
many times we don't even come to know that the winning trader has lost it all, because while the winning trader is a "news" and hence visible, the same trader doesn't hit the limelight when he/she loses. rather, he/she consciously goes off the radar (not for hiding, probably, but to recuperate)
so, winning is not a big thing (certainly losing is neither) but winning repeatedly is! in other words, knowing that you are going to win is a sign of having made it!
when winning is surprise, it is surely not a surprise!
this is precisely the reason why i repeatedly felt bad at making money because in heart of hearts, i knew the reality!
losing, for a learning trader is an honest friend! it tells the truth.....in face.....and leaves no false images (misconceptions) in one's head!
winning, if not with a solid foundation, is a treacherous friend! never believe it! never be befooled by it!
one way to know whether any profit was a fluke or pre-conceived is to ask oneself - will i fear in the similar trade next time? would i enter another trade with the same logic/method/reason? did i have one?
if u r fearful, in most likelihood, u were lucky. it was chance that trade went right.
if it is not repeatable, it is a fluke, or to put in more respectfully, a lucky trade.
this is precisely the reason why we see traders make money in a trade and lose it all (if not more) in the very next.
winning an occasional trade is good enough motivation for amateur traders to keep losing!
many times we don't even come to know that the winning trader has lost it all, because while the winning trader is a "news" and hence visible, the same trader doesn't hit the limelight when he/she loses. rather, he/she consciously goes off the radar (not for hiding, probably, but to recuperate)
so, winning is not a big thing (certainly losing is neither) but winning repeatedly is! in other words, knowing that you are going to win is a sign of having made it!
when winning is surprise, it is surely not a surprise!
this is precisely the reason why i repeatedly felt bad at making money because in heart of hearts, i knew the reality!
losing, for a learning trader is an honest friend! it tells the truth.....in face.....and leaves no false images (misconceptions) in one's head!
winning, if not with a solid foundation, is a treacherous friend! never believe it! never be befooled by it!
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