đ Chapter 1 â Starting in Trading (summary for beginners)
Trading is not luck or a game. It is a profession that requires study, discipline, and emotional control. Many people enter the market thinking they will get rich quickly, but they end up losing money by trading based on emotion.
The emotions that are most disruptive are:
1. Fear â exits too early and loses profit.
2. Greed â stays too long and gives back everything.
3. Hope â holds onto losses hoping the price will return.
4. Anger â trades impulsively to "recover" losses.
đ This creates a destructive cycle: the person loses, enters with anger, loses more, gets frustrated, and gives up.
The professional trader accepts small losses, follows a plan, and protects their capital. The amateur wants to win all the time, ignores risk, and goes broke.
đ The secret of trading is not to be right all the time. It is to win more when right and lose little when wrong. This is called risk management.
đ§ Additionally, you need to control your mind. Uncontrolled emotions destroy your account.
đ A trading plan helps you to:
Know when to enter and exit the market.
Protect your money with daily limits.
Avoid acting on impulse.
đ Conclusion: Trading is probability, method, and patience. Those seeking consistency need to study, practice, and follow rules. There is no magic formula.
