Live bull fighting and Electronic Currency Trading share a lot in common. Some of the parallels are:
* They're both pretty straightforward.
* Both involve a high degree of risk
* There's only you and a very large antagonist (the bull or the markets).
* In fighting the bull, it's just stand there, wait, get out of the way. Simple.
* Just like Electronic Currency Trading, it's just buy low, sell high. Simple.
* Either endeavor demands great emotional intelligence.
* If you lose your cool and make bad decisions with either, you'll suffer injury or possible death (of course in Electronic Currency Trading, it's the proverbial "Financial Death").
Trying to be a self-trained trader (without proper training) is like trying to become a self-trained bull fighter. You could read up on how to do it, figure things out for yourself, and maybe even create your own method. Keep in mind though, by yourself alone with the bull after you enter the arena, it's a completely different situation. You are required to prepare for when the bull is going to charge, if he is going to come full speed or slow down, move left or right or maybe even stop, then you have to react with the right moves and the right timing. What happens if you get scared or lose your discipline, and then hesitate?
OUCH! You'll get reminded by the bull!
You'll be stomped and gouged any time you lose your cool and make a mistake.
Sooner or later, you get forced to figure out what you're doing wrong and how to keep your cool. The bull certainly won't tell you what to do to keep from repeating it. The gouging will just continue. You'll have plenty of scars to show for it if you do survive long enough to actually make it as a bull fighter. Unfortunately, most of the mistakes you'd make as a bull fighter would come from the same source as the mistakes that a trader makes: lack of patience, discipline, confidence, timely action.
Until you learn how to keep your cool and do the right things when you know you're supposed to, you'll keep on taking a beating from the bull.
The same is true with the markets and Electronic Currency Trading.
If your emotions cause you to mess up your timing or your decision-making, OUCH! Here comes another gouging! You absolutely have to survive the learning curve in Electronic Currency Trading. Without emotional intelligence as a trader, you can have a true "Holy Grail" system and you're most likely to hand your money to the markets rather than profit.
If you've been trading for a while or if you're brand new to it, to avoid getting repeatedly gouged by the markets, focus on your emotional intelligence so that you can survive.
| Are you a self-trained bull-fighter (trader)? When you're in the arena with the bull, do your emotions flair up? Do you want to avoid getting gouged by the markets? Go to InsideOutTrading.com for training that will boost your emotional intelligence in Electronic Currency Trading |
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