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Tuesday, December 28, 2010

Trading Psychology and Emotional Discipline (Series): Modesty, Humility, Ego, Self-Confidence and Spirituality (VIDEO)

"If a general is not courageous he will be unable to conquer doubts or to create great plans." - Sun Tzu, the Art of War

To continue in the endeavor of 'tweeking' my playlist videos, I wanted to insert a video into my playlist, or series of videos that discusses "Trading Psychology and Emotional Discipline". The link to the RSS feed of this playlist can be found by clicking here.

There are actual personality traits that I believe assist with investing and trading efforts.

(Video Included. If you're seeing this entry elsewhere and cannot see the video? Click here to view the entry ...)

With modesty? You don't engage in strategies that you're not familiar with, and discuss topics with the idea that you are the one and only source of all information for that particular topic. Which means what when it comes to your investing and trading efforts? You don't style drift.

With humility? You're looking to help others. And in this economy? Isn't there a utilitarian benefit to the economy as a whole if those of us who are profitable and knowledgeable to assist others with no predatory 'bent'? And as I mentioned in the video? With a humble view of yourself? Perhaps over the long haul you can avoid the suicides that seem to plague this industry.

And it's not arrogant to warn others against someone I see as a snake-oil salesman. Heck, that's what I've been trying to help people avoid, and avoid the pain that I went through when I initially got involved in the markets.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 14 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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