Often, traders can reach the level they set as a goal but that is when the ego begins to play tricks and where many traders forego taking profits, only because they think the same game will continue to a more glorious end. If you know darts however, you know that there is nothing better than hitting an "out" (getting to 0) and ending there IS the win.
Like in tennis, there are several games in darts before the match is over, just like there are many trades possible in a day before the markets close. So traders need to remember that there is never shame or a loss in taking profits when the target is reached, but sadly loss is possible when the ego takes over and one forgets the rules of the game. When ego takes over, we throw darts without precision when we keep ego at bay, we pay more attention to our aim.
Remember that the ego plays tricks often to fool you into failure. Also remember that satisfaction is knowing that you played the game well to a winning end which cannot be belittled by the ego. Building on the feeling of satisfaction, not building of ego, is what makes successful traders more successful.
Happy Trading, Living and Dancing
The Daily Pick - DJIA outlook published on 22 May ~
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