Month: March 2022
Chess is a game of strategies. It tests your foresight, patience, strategic thinking, and the ability to get into your opponent’s mind. Sounds familiar? Most times, you see the villains in movies—keep playing chess which I find weird. I feel like it should be the other way round. Anyway, this board-game is one I find really interesting.
Burglar (home-breaker) Heh, a person who illegally enters buildings and steals things. This is supposed to be a sensitive article because—I really shouldn’t be promoting the term “burglar” or stealing. However, in life, lessons are learnt from any-where and, trading shouldn’t be different. The good thing is, the lesson can be learnt without absorbing the act. In addition, this article is not going to teach you how to steal—It just absorbs certain lessons from the act and instead, teaches you how to apply these lessons in trading..
Self-control ..If you can master self-control, you can master anything. What exactly is self-control? simple, controlling yourself. Haha. that’s the lame version. The dictionary meaning would be: the ability to regulate and alter your responses in order to avoid undesirable behaviors, increase desirable ones, and achieve long-term goals. Research has shown that possessing self-control can be important for health and well-being. See it this way, That lingering thought in your head, the war between impulsivity and doing what’s right or beneficial.
For traders, It’s the ability to control emotions, impulses or behaviors to achieve consistency and profitability. Most traders will ask, Is self-control really that important, or is it better to enjoy the moment and not concern oneself with future outcomes? However, besides risking the ability to achieve long-term goals, there are other problematic issues with a lack of self-control.
Traders who lack self-control often give in to impulsive behavior and emotions as well..