Electronic Currency Trading and live bull fighting are the same in several regards. For example:
* They appear simple enough to do.
* Both involve a high degree of risk
* It's just you and a huge opponent (the bull or the markets).
* For the bull fighting, you stand there, wait, get out of the way. Simple.
* Just like Electronic Currency Trading, you buy low, sell high. Simple.
* Either endeavor demands great emotional intelligence.
* In either, if you can't keep your cool and wind up making bad decisions, you'll incur injury and possible death. "Financial Death" in the case of Electronic Currency Trading.
Trying to be a self-trained trader (without proper training) is like trying to become a self-trained bull fighter.
You could create your own way to do it by reading a couple books or trying to just figure it out by yourself. However, once you step foot into the arena and you're all by yourself with the bull, it's a whole different game.
You are required to prepare for the moment that the bull is going to charge, if he is going to charge full speed or slow down, move left or right or possibly even stop, then you have to make the right response at the right time.
What happens if you get scared or lose your discipline, and then hesitate?
OOOOH! The bull WILL let you know!
You'll be stomped and gouged any time you lose your cool and make a mistake.
Sooner or later, you get forced to figure out what you're doing wrong and how to keep your cool. You won't get any clues from the bull. The gouging will just continue.
You'll have plenty of scars to show for it if you do survive long enough to actually make it as a bull fighter.
Lack of patience, discipline, confidence and timely action are usually the sources of problems for both the bull fighter and trader.
You'll continue to take a beating from the bull until you learn how to keep your cool and do the things you know you should to when you're supposed to.
For Electronic Currency Trading and the markets, the same thing applies.
If your emotions cause you to mess up your timing or your decision-making, OW! Here comes another gouging!
The real key to Electronic Currency Trading is being able to survive the learning curve.
Without emotional intelligence as a trader, you can have a true "Holy Grail" system and you're most likely to hand your money to the markets rather than profit.
New traders and those with experience, in order to survive and avoid getting gouged by the markets, focus on your emotional intelligence.
Have you gone the self-trained route as a bull fighter? When you're in the arena with the bull, do your emotions flair up? Do you want to avoid getting gouged by the markets?
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