Fear and Hope: Deadly Sins In Trading

The 4 Deadly Sins of Trading: Fear and Hope

 

This month I am focusing on what I call the 4 Deadly Sins of Trading – Fear, Hope, Greed, and Pride.  I presented a brief overview on the topic last week, so today I’m going to dig deeper into fear and hope!  

Let’s jump right into how you can recognize when these emotions are taking over, and how you can turn them to your advantage.

Fear:

As a trader, I recognize my fear when a stock doesn’t behave as predicted.  For example, on my current trade with Nike my predicted outcome has been greatly affected by what’s happening in China.  The trade started 3 weeks ago when none of this noise was in the system.  Regardless of the health of the stock, my fear is rising and I’m starting to feel like a branch caught in the current of a raging river!

With that said, I know that the China effect is temporary as it relates to my specific trades.  So here’s how I get my arms around my fear and start moving in the right direction:

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Amin Hemani
In 1992 Amin had an epiphany while attending a 2 day training course hosted by InvestTools. He realized that he couldn’t leave decisions about HIS money to brokers or advisors. It was at this moment, Amin decided to take control of of his financial future.

Amin spent the next 20 years learning how to maximize his profits and minimize his losses and in 2014 he took over as the IBD® coordinator for the Westchase and Tampa Meetup groups. This experience gave Amin the chance to meet many like minded individuals who were earlier in their investing journey

In March of 2015, Amin began his blog, Investor Spotlight, in an effort to share the knowledge he had accumulated and the lessons learned over many years of trial & error. Moving forward, Amin wants to spread his message beyond just his Meetup groups and blog by providing mentoring and coaching on the process he has come up with over the last 2 decades.

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Amin Hemani

Amin Hemani

In 1992 Amin had an epiphany while attending a 2 day training course hosted by InvestTools. He realized that he couldn’t leave decisions about HIS money to brokers or advisors. It was at this moment, Amin decided to take control of of his financial future. Amin spent the next 20 years learning how to maximize his profits and minimize his losses and in 2014 he took over as the IBD® coordinator for the Westchase and Tampa Meetup groups. This experience gave Amin the chance to meet many like minded individuals who were earlier in their investing journey In March of 2015, Amin began his blog, Investor Spotlight, in an effort to share the knowledge he had accumulated and the lessons learned over many years of trial & error. Moving forward, Amin wants to spread his message beyond just his Meetup groups and blog by providing mentoring and coaching on the process he has come up with over the last 2 decades.

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