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Traders must look at indicators, charts, prices, and numbers everyday. Decisions must be made quickly because prices move faster than what the human brain can think. Also, the more a trader thinks the longer they wait in a limbo of analysis, also known as paralysis by analysis.
Many traders begin their trading careers with consecutive wins. After they win money they begin to experience a euphoric feeling of confidence. They begin to think that they can't lose. But then a loss comes and they search for answers. But to what question are they searching for answers? Is it how to win more? Or how to lose less?
Can you relate to the same questions? What sparked your quest for knowledge? Was it fear of losing more money or ambition to win more money?
In his book, "Trading In The Zone," Mark Douglas believes that novice traders begin to look for answers to the question, "how not to lose?" Traders begin to look for answers out of fear. They begin to fear losing. They begin to fear losing money. This fear boggles their psyche and forces them to not take chances, which is the existence of financial markets. CHANCES. GAMBLING.
I did the research. You just have to listen.
This week's earnings: