- THE STOCK MARKET IS LIKE A CASINO. The market wants your money. it makes money off of it. The odds are against you. It is like a casino with more information and in a way easier to lose your money.
- You are gambling when trading blindly. Your wins are stupid luck and your losses are well deserved.
- At a casino there is free alcohol being passed around because they want their gamblers to have their minds clouded to not think clearly and make irrational decisions. The market is very similar. You can be taken adrift in an emotional roller-coaster where you become excited at your earnings and feel rage, depression, and regret on your losses.
- Trading emotionally is the same as gambling drunk at a casino. you make irrational decisions and trade with fear and/or overwhelming joy.
- This is one of the big reasons many traders fail in the stock market and lose everything and get addicted to losses because they think they can turn it around.
- A trader that keeps losing money on trades is just a loser. They are addicted to losing due to past feelings of upmost joy in their winnings. They behave very similarly to alcohol addicts, except that their speech is not slurred.
- A great goal for a trader is if someone is sitting across from you they cannot tell if you are gaining or losing $2000. This is perfect because you will not be trading with emotions.
A sound psychological mindset is the number one key to a successful trading career.