



Most traders have absolutely
no concept of what it means to be a risk-taker in the way a successful
trader thinks about risk. The best traders not only take the risk, they
have also learned to accept and embrace that risk. There is a huge
psychological gap between assuming you are a risk-taker because you
put on trades and fully accepting the risks inherent in each trade.
When you fully accept the risks, it will have profound implications on
your bottom-line performance.
Trading is
Financial and emotional disaster are common among traders
because many of the perspectives, attitudes, and principles that
would otherwise make perfect sense and work quite well in our daily
lives have the opposite effect in the trading environment. They just
don't work. Not knowing this, most traders start their careers with a
fundamental lack of understanding of what it means to be a trader,
the skills that are involved, and the depth to which those skills need to be developed.
Everyone who trades ends up learning something about the markets; very few people who trade ever learn the attitudes that are absolutely essential to becoming a