08/13/09 - Are These 4 Emotional Pitfalls Sabotaging Your Trading?

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Home > Commentary > Elliott Wave International > 08/13/09 - Are These 4 Emotional Pitfalls Sabotaging Your Trading?

Think Outside the Bull at bearMarketCentral.com

08/13/09 - Are These 4 Emotional Pitfalls Sabotaging Your Trading?

By Jeffrey Kennedy

To be a consistently successful trader, the most important trait to learn is emotional discipline. I discovered this the hard way trading full-time a few years ago. I remember one day in particular. My analysis told me the NASDAQ was going to start a sizable third wave rally between 10:00-10:30 the next day... and it did. When I reviewed my trade log later, I saw that several of my positions were profitable, yet I exited each of them at a loss. My analysis was perfect. It was like having tomorrow’s newspaper today. Unfortunately, I wanted to hit a home run, so I ignored singles and doubles. Read More

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