...but not the easiest.
In this video I discuss how trading is a world without rules. To be successful, one must overcome a powerful enemy: oneself.
▶️ 3Speak
...but not the easiest.
In this video I discuss how trading is a world without rules. To be successful, one must overcome a powerful enemy: oneself.
▶️ 3Speak
This was a really great video...really nice job.
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i think "FEAR"is the greatest enemy of most traders when trading,i agree with everything you said in the video..@taskmaster4450le
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awesome video...knowing and understanding the risks in the market and how to overcome the risks will help a trader alot,good entry and exit strategy is also very important too...
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Summary:
In this video, the speaker delves into the basics of trading, emphasizing on the simplicity of trading along with the challenging aspects. He highlights that while trading may be straightforward in terms of mechanics, it is not easy due to the lack of strict rules and the individual's ego playing a significant role. The speaker stresses the importance of creating and following one's rules, managing ego, and avoiding emotional decision-making. He also points out how computers can trade more effectively than humans due to their consistency and lack of emotional interference.
Detailed Article:
The video begins with a discussion on trading, emphasizing that despite the various systems and strategies available, trading is fundamentally simple and accessible to anyone. The speaker, however, points out that while the mechanics of trading are straightforward, its execution is challenging. He attributes this difficulty to the absence of rigid rules in trading, likening it to the Wild West on steroids, where individuals are solely responsible for their decisions.
The speaker delves into the concept of individual responsibility in trading, highlighting that traders have the freedom to choose their actions, risks, and strategies. He emphasizes the need for traders to establish their rules and adhere to them diligently. Moreover, the speaker discusses the role of ego in trading, noting how traders often struggle with being wrong and how ego can impede success in trading.
Furthermore, the speaker points out that trading is essentially about making decisions based on anticipated market movements. He stresses the importance of accepting being wrong in trading and the significance of consistency in following one's trading rules. The speaker also touches upon the emotional aspect of trading, mentioning how fear and greed can influence market dynamics and individual decision-making processes.
The discussion extends to the role of computers in trading, highlighting their ability to trade objectively without being swayed by emotions. The speaker contrasts this with human traders who are prone to emotional decision-making, which can be detrimental to their trading success. Additionally, he provides insights into recent market trends, particularly mentioning the risky behaviors observed among some Robinhood traders who traded unsustainably and incurred significant debt.
In conclusion, the speaker emphasizes that trading is a battle with oneself, requiring traders to establish discipline, follow their rules, and be accountable for their actions. He underscores the importance of self-awareness and consistent adherence to trading rules to achieve success in the challenging yet accessible world of trading.