When people ask me about learning to trade well, my first question of them is, Ã¢â‚¬Å“Have you ever seen Star Trek?” and then I wonder just how willing they are to declare war on their emotions and change their behavior to trade like a pointy-eared Vulcan.
Ultimately, that is what it takes; the will to drive all negative trade-killing emotion out of the equation and stubbornly trade a great risk/reward plan that you were smart enough to think of before entering the trade. Trading well and making money isnÃ¢â‚¬â„¢t rocket science; itÃ¢â‚¬â„¢s just a matter of forming good habits.
All one needs is a) Patience to stalk the trade, b) Good risk/reward planning, c) Ability to enter hard stops and sensible targets, and d) Ability to ignore greed and fear and hope. Trade like a Vulcan, limit losses, and let profits grow, and youÃ¢â‚¬â„¢re on your way!
Taking emotions completely out of the picture is going to be difficult for any human. Our brains are wired for emotional responses.