If you’re going to be a successful futures trader, you have to learn to take emotion out of the equation. Learn to trade like a robot. There’s no room for emotion in futures trading.
Futures traders learn to trust themselves and their system. If you start letting emotion rule your decisions, fear, anger and greed will undermine your carefully planned and practiced strategies. It is by persistently following your system, by dispassionately relying on what your charts tell you, by religiously following your indicators that you will succeed as a futures trader.
When you trade with your emotions, it colors your judgement. You’re no longer trading on your indicators, you’re trading on your gut. And letting your gut rule is like letting it ride in Vegas. Eventually, fear or greed will compel you to make that final disastrous gamble that wipes you out.
The market is an inanimate object. It has no feelings, no agenda, no emotions. If you make a bad trade, you cannot personalize the market. The market is not out to get you. Start thinking this way and you toss logic and wisdom out the window. If you feel yourself getting caught up in emotion, if you feel logic slipping through your fingers, get out. Just stop trading until you can regain control. Every minute you keep trading on your emotions, you come one step closer to disaster. No matter how emotional you become, the market will just sit there. You cannot change the market, you can only react to it.
About Bill
