I speak on a subject that, to me, is crucial to the success of any trader / speculator / investor, regardless of the profile, the strategy and its beliefs on the market.
Throughout this time learned that people are looking for magic formula, that will turn a small amount of money into a fortune. Of course, this is a quest without end, not yet found.
Some perceive the time and can change its "focus" for the proper administration of their money with control of risk and greed & fear. The other, leaving the market defeated, but defeated by themselves.
With that, I do not want to discourage all talking about it is impossible to get rich investing in the stock market. We have success stories to that effect. What I want is to draw attention to that depending on your "focus", enter your emotion as a mortal enemy.
Being focused on the wealth brings with it the greed. It's that feeling that it leaves out of the asset when he is giving clear signs that will not go up more, and that leaves you feeling not activate your stop, cut losses. After all, you sure that is going up and will give you much money.
Having discipline in the trade is almost no emotion or take, of course, not let it interfere with trade. It is planning to enter, exit at all possible scenarios, and act as a machine, giving order to buy or sell. But to do this, you need knowledge, certainty what he is doing.
It is easy to see that a feature common to all traders winners is the discipline. It makes us what we want, makes us get prepared to achieve the targets and gives us to negotiate peace in exchange.