Fear and Greed – Henry went to the dentist – 9/29/09

021One of my worst fears is probably going to the dentist, and today marks the day that I, Henry Liu, resisted the urge to break down and cry like little school girls as many grown men have done before me, and announce that I am now 2 wisdom teeth less, and 2 more to go. (That’s me after my Dentist Appointment…)

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Simple things such as going to the dentist could have a huge impact in a trader’s life, as I rate this event “catastrophic” impact level, equivalent to about 10 Nonfarm Payroll events combined, because if you are trading with stress, pain, or any kind of anxiety, you could be risking an account blowout.

That’s why I guess it is so important for us to keep a level head when trading.  I am not going to preach here, but if you have been trading for a while, you’d know the two emotions that many so-called experts talk about are the “greed” and “fear” factors in Forex trading…  But after searching extensively on the subject of these emotions online and offline for years, there aren’t much material available on how to fix the issues, but just the usual plagiarized general definition of what are “fear and greed”…

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That’s why I have decided to create a special section in my DVD called mental workshop.  It is targeted to improve the mental factor in your trading.  Now I am not a psychologist or anything, but I have done extensive research on the subject, and I have realized that everything comes down to what we called “habits”.  If you have a bad habit, such as moving your stoploss, not taking profit, or even fear of jumping into the market, then I think I can help.  I can help you develop an “awareness” in trading, so that the next time you are at a crossroad, you’ll have that inner voice reminding you NOT to do it… kind like in the movies when you have an angel version of you on your left shoulder and a devil version of you on your right?  Exactly…

Anyways, let me hear about your experience with dentists, with trading, with your fears and greedy moments… Comment on this post, show me you are alive!

Henry

About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

Comments

  1. Been out of the market for a while (about a year) working.My last trade was a losing one. I’ve looked at my platform everyday though to kinda keep up with the market. I poise myself for high impact news releases,in the event my finger hits the buy/sell button, but nothing. It’s like i don’t know how to trade anymore.I have a series of successful trades under my belt,but that last one was of great impact.I purchased your e-book,and thank you for it.HELP ME get my trigger finger to react with assuredness,confidence and consistency.I know i have what it takes i just need it to be brought out and exercised. Just wanted to share in hopes of getting delivered from the fear and greed of trading. Thanks Henry

    • Dione:

      Much appreciated for your comments. I understand trading is as much analysis and research as psychology. If we understand what is going on, it will be so much easier to make the right decision, everytime.

      Thanks again,

      Henry

  2. Been out of the market for a while (about a year) working.My last trade was a losing one. I’ve looked at my platform everyday though to kinda keep up with the market. I poise myself for high impact news releases,in the event my finger hits the buy/sell button, but nothing. It’s like i don’t know how to trade anymore.I have a series of successful trades under my belt,but that last one was of great impact.I purchased your e-book,and thank you for it.HELP ME get my trigger finger to react with assuredness,confidence and consistency.I know i have what it takes i just need it to be brought out and exercised. Just wanted to share in hopes of getting delivered from the fear and greed of trading. Thanks Henry

    • Dione:

      Much appreciated for your comments. I understand trading is as much analysis and research as psychology. If we understand what is going on, it will be so much easier to make the right decision, everytime.

      Thanks again,

      Henry

  3. Devin McNab says:

    You hit the nail right on the head with me Henry. I very much lack discipline and I just cant seem to help it.

    I have made some good but unfortunately mostly awful trades like eg: when I hit the buy/sell button its within the first few minutes I know I made the wrong decision, but instead of cutting my losses and exiting the trade I hang onto it and hope it goes back the other way and hope I get my money back. Its like I get pissed off at the market and this voice is telling me “I’ll get you back”! OK now you must think I’m nuts lol.

    I have been trading for around 2 years part time as I’m a truck driver employee and have to feed the family sort of thing, but I’m desperate not to become a truck driver so I can become self employed, spend more time with the kids yadda, yadda and the worst thing is that I know or tell myself that trading can work and I wont it to work, but every time I lose money I rush trades in a attempt to get it back.

    So far to date my profit/Loss for the two years, -$7,500 USD. I only earn $65,000 per annam (Australian), so hope with your trade room you might be able to help

    Regards Devin

    P/s I understand you are in the process of working out the pricing for the trade room. Please be gentle, as with the Andy Sherman grids thing, I have never been able to afford to get into it or more like I’m afraid of spending all that money on it and finding out its not working for me in a way where I think wouldn’t be able to trade enough money each month just to pay the monthly rental.

    • Devin:

      I hear you man… I was in the same boat for many years until I learned to concentrate on a few things. It is like the Internet, you’ve got so many choices and there just aren’t enough time in the world to check them all out, or enough money for that matter… I learned that you have to have laser-like focus and concentrate only on a few things that works, and the result will cut back your time spent at trading, boosting your profit because the biggest issue with any struggling trader is to hold-on to profits. By limiting your trading time, this could be the turning point in your trading career.

      Henry

      PS I’ll be very fair with the pricing and offer discounts to my exiting customers. Thanks.

  4. Devin McNab says:

    You hit the nail right on the head with me Henry. I very much lack discipline and I just cant seem to help it.

    I have made some good but unfortunately mostly awful trades like eg: when I hit the buy/sell button its within the first few minutes I know I made the wrong decision, but instead of cutting my losses and exiting the trade I hang onto it and hope it goes back the other way and hope I get my money back. Its like I get pissed off at the market and this voice is telling me “I’ll get you back”! OK now you must think I’m nuts lol.

    I have been trading for around 2 years part time as I’m a truck driver employee and have to feed the family sort of thing, but I’m desperate not to become a truck driver so I can become self employed, spend more time with the kids yadda, yadda and the worst thing is that I know or tell myself that trading can work and I wont it to work, but every time I lose money I rush trades in a attempt to get it back.

    So far to date my profit/Loss for the two years, -$7,500 USD. I only earn $65,000 per annam (Australian), so hope with your trade room you might be able to help

    Regards Devin

    P/s I understand you are in the process of working out the pricing for the trade room. Please be gentle, as with the Andy Sherman grids thing, I have never been able to afford to get into it or more like I’m afraid of spending all that money on it and finding out its not working for me in a way where I think wouldn’t be able to trade enough money each month just to pay the monthly rental.

    • Devin:

      I hear you man… I was in the same boat for many years until I learned to concentrate on a few things. It is like the Internet, you’ve got so many choices and there just aren’t enough time in the world to check them all out, or enough money for that matter… I learned that you have to have laser-like focus and concentrate only on a few things that works, and the result will cut back your time spent at trading, boosting your profit because the biggest issue with any struggling trader is to hold-on to profits. By limiting your trading time, this could be the turning point in your trading career.

      Henry

      PS I’ll be very fair with the pricing and offer discounts to my exiting customers. Thanks.

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