This week, I’d like to talk about money and why it shouldn’t be your primary goal.
I know this sounds paradoxical… after all, we’re in this field to make money and improve our lives in one way or another. But please hear me out as I will pinpoint the very reason why people fail to be consistent in trading.
Did you ever stop and notice what goes on in your mind when you’re trading – the kind of thoughts and feelings that arise?
Over the course of our lives, we run across all types of adverse situations.
Some examples might include you losing your job; you’re backstabbed by a member of your inner circle, your love interest rejects you, you lose a good chunk of your capital in the market.
Most of those situations have the potential to make us wiser, but notice how easy it is for them to instead make us bitter.
In today’s post, I want to share a few quotes from Howard Marks whom I’ve been reading a lot lately.
Howard is an American investor, thinker, and writer. He’s the chairman and cofounder of Oaktree Capital Management and is renowned for his insightful assessments of financial markets.
My goal here at Trading Composure is to help show people what trading is all about – it’s not just about trading systems, analysis, and risk management. There’s also a mindset component to it all that too many people ignore.
And because they ignore it, they never really get to a point where they can deliver predictable results in the market.
This is a guest post by AK from the Youtube channel Fallible.