A Trader's Worst Enemy: Greed
It is so natural for us, humans, to want more. To crave for more than what we have. To be discontented. Some of you would think that it is good when aiming for goals and dreams in life. Maybe. I think it's partly true. Have you heard the story of the goose and the golden eggs?
The story goes like this–Once upon a time, a man had a goose that laid a golden egg every day. Eventually, the man grew impatient. He imagined that if the bird lays golden eggs, its insides must be made of gold. And he thought that if he could get all the precious metal at once, he would get extremely rich in a short period of time. So, the man decided to kill the goose. However, upon cutting the goose open, he was shocked to find that its innards were like that of any other goose.
The lesson of the story is very obvious, yet we tend to ignore it and most of us fell victim to this mindset. Most of us work very hard to obtain/produce the golden eggs (our dreams and goals in life) but tend to ignore the well being of the goose (the person, the dreamer, the source of the golden eggs). I am not implying that working hard is bad. In fact, it is necessary to work our ass off according to our dreams because if we don't do that, we can't produce the golden eggs that we want. To put it simply, you reap what you sow. Working hard is only bad when health is compromised. Balance is key here, it is all about sustainability.
If you are a trader, please answer the questions below with all honesty:
- Do you overtrade?
- Do you ignore stop loss?
- Do you violate your trading system?
- Do you get emotional when trading?
- Do you add cash to your losing positions?
- Do you frequently jump from one trading system to another?
- Do you want to quit?
When you take good care of the goose, the golden eggs will surely follow.
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