Great Temptation In The Market

The market is filled with full of great temptation. The temptation to make even more money from the market is very real. Today as i have made a couple of bucks from the forex market, I was really tempted to dive into the market even though it is not according to my trading plan. I turn to blogging instead of looking at the trading chart.

How do I counter the temptation?

Write up a trading plan
The trading plan will act as a defensive wall against any temptation. It serve as a warning and a guide for me. Without the trading plan, I will just be like a cowboy shooting any target and most likely i will end up with nothing in the end.

Shut off the computer
This is a good way to pull myself out of the temptation. It is also the most efficient and easy method. I just need to press the shut down button on the computer and there goes the computer. This will really kill off the temptation at least for a while.

Keep myself occupied with other work
After a while, I will feel very tempted to switch on the computer to check out the price to see if my judgement is correct. This is bad as if my judgement is correct then i will then to convince myself that today is the day to make a killing. Thus the next best method is to keep myself occupied for at least a couple of hour. Usually i will be either blogging, playing games or do some reading.

The above 3 methods work pretty fine for me. So i hope it will work pretty good for you guys too. Do not be greedy and fall for the temptation. Trade with a clear and cool mind.

1 Comment so far

  1. Dinosaur Trader on October 10th, 2008

    Hey, hope things are okay over there.

    Crazy times.

    -DT

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