To me, stock trading is just another form of gambling. Some view it as investing based on the companies' reports. Using the reports, you place your hard-earned money on the stock price. Personally, i view the reports as the odds which tell you how much risks you are going to take. Isn't it the same as placing your money on the casino tables? Same to the technical traders, we are using the charts as the tools (odds) to gamble on the stocks. There's no difference between investing and trading, just that the usage of tools is different.
To be successful in trading or investing, we must first train ourselves as professional gambler. In fact, professional gamblers have a clear vision in terms of mindset than traders or investors. The Pro gamblers will always accept losses as parts of the game. When they entered into the casino, they don't expect themselves to win a big windfall. They always keep their losses small. It's a probability game, so there is no sure-win kind of game. In trading, we shall adopt the same strategy as the Pro gambler in order to succeed. Ride the winners and leave when the loss is small.
Enjoy the trading process rather than the outcome. It has to be your passion. Something that you want to be in your life - a trader. Only your passion gives you the motivation. If not, you will find yourself giving up along the way. Don't let the trading outcome affect your emotions. In the long run, you may gain some outstanding rewards. In the trading process, mistakes are the invaluable components which help you to learn or become more experienced. The trading world will carry on changing - new ideas, new counters or new rules. We must always adjust our mindset to play the game.
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