When most traders buy – they should sell! Or fear, the main emotion, scares them away from a great deal. Or their rate is too high. Capital management process is emotional and not logical. 3. Greed prevails, proving that you are more motivated by greed than fear and Understanding the difference. The mere fact that you're a trader – which means that you have less fear than the "normal" person.
You are more motivated to earn money. Other people are more motivated not to lose money. Greed – it Ahilesova heel traders. Greed will nourish hope, encourage you to keep losing trades and grabbing profits too quickly. Hope your worst enemy because it is the cause of your dreams about the huge profits, and leads to an unreal world. Believe me, the world of speculation is very real, people lose all the money that are, broken marriages, families wander apart from the increase in income or loss. My approach is this – do not take all close to heart; gains may be fleeting, always pursued by the tax authorities, lawyers and unscrupulous investment intrigue.
Way to control your greed may be different from mine, and I can not give you the exact definition here, but I can tell you that you have to control your greed, otherwise you will not survive. 4. Fear hinders the adoption of risk – only if you should accept it. Fear is the reason why you do not do what you should do. You scared himself, unlike the winners, and take the trades that are lost or going nowhere.
If Ud study closely the curriculum of their children, you will find that they will acquire knowledge about many areas of life, but not the financial area. Why? It’s a good question, since it is assumed that the effort to teach them as much matter in order that might earn a living someday, should be accompanied with a minimum of instruction about what to do with that money once it is in your hands. (Besides spend it, of course.) However, my intention is not to question the system’s current education, but just to demonstrate that we as parents we cannot expect our children to learn something about the handling of money in school. Therefore, it is our task! And it is a matter of utmost importance. Just look at the level of indebtedness and poor preparation for the old age of the adults around us to understand it takes more than a good salary to ensure economically. Do then we teach them about this topic if we ourselves have received little education in the area of management and investment of money? The easiest thing is to learn alongside them. Then give you several data that my husband and I used to prepare our children in the financial area: 1.-Since we were pretty ignorant on the topic, we started to instruct with financial books and shared what they learned with them.
2. Les count our way of planning our expenses since we had married and together with them we analyze our mistakes and our misconceptions. We carry 3 to Bank with us and teach them the language Bank: rates of interest, deposit term, mutual funds, etc. We also carry them to know our account executives to be able to ask them questions. We instruct 4 in the proper handling of the money. Always inspiring them to think how they can generate money instead of just spending it.
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