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become more disciplined online investors, able to follow through with our intentions? |
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We will look at important psychological issues that are unique to online trading and how you, with some insight, can use them to your trading advantage. |
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For many of you, it is not just the desire to strike it rich through trading that motivates your interest. It is also the pride of managing your own finances, of feeling like a "player" like the Wall Street big boys, and the positive feelings of controlling your own financial destiny that draw you to the game. |
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Ideally, this book will not only be used as a source of basic information on the psychology and discipline of online investing but also as a handy reference when you find yourself in the heat of the trading battle. It may be pulled out and referred to perhaps to calm your nerves after a trade turns against you. Or maybe to help keep emotions in check during the inevitable panic you may feel when the markets go through their typical fierce gyrations. Perhaps it will be of help when you need to block out unwanted distractions while you are trading. |
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My intent has been to keep The Disciplined Online Investor simply written and to make the ideas practical. If you can manage an online brokerage account and learn the methods and techniques of good trading, you will be able to make use of this book. |
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Armed with psychological insight into your own motives for online trading, and understanding your thoughts and feelings that arise during trading, you will be better mentally equipped to make profitable trades. You will feel more confidence and pride in managing your investments, attend to trading with better focus, and have more enjoyment while doing it. |
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I also want you to understand something about the psychology of the market. With insight as to the powerful psychological forces that shape the market, and how others tend to react, you will be better able to predict market movements and use them to your advantage. |
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Realistic or not, most online traders have hopes of striking it rich. Like the days of the old wild west, we want to take responsibility for our own financial destiny. Except, instead of being armed with a six-shooter, a pick, a shovel, and a pan to hunt for gold, trading prospectors are now armed with cable modems or direct access |
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