Fear and Greed

In the previous entry.. we shared about the steps to become a successful trader. If you don't read it before.. read it first..

The most important aspect of successful trading is to overcome the psychology involved. Trading is 85% mental and 15% method. Fear and greed are always emotions to overcome which if not controlled will interfere with success.

Fear

Types of fear traders experience..

Fear of losing
Fear of taking a trade
Fear of not taking enough trades and missing out
Fear of being wrong in trading decision
Fear of having to make a decision
Fear of can't control the market
Fear of can't control themselves

Fear reduces the ability to focus on objectivity. Sweaty palm and rapid heartbeat doesn't help the process of trading. These fears will sabotage the trading decision and execution process.. resulting in undesirable outcomes such as missing a trade altogether.. entering the trade late.. etc.

Greed

This is the other evil emotion of trading. What happens to a trader is that the exits after entering trade are based on greed. There is an urge of wanting to maximize the profit for every trade. Every successful trader must have a mindset of being consistently profitable which means take the profits when they are there. Nobody however good sell the top or buy the bottom of every move. Profitability will come from consistency in following trading plan and keep emotions under control. Trading is a business not Las Vegas or a roulette wheel.

Selamat Hari Merdeka

Selamat menyambut hari kemerdekaan negara yang ke-50 untuk semua..

Merdeka.. merdeka.. merdeka!!

Tag Merdeka

Blog ini telah di tag oleh Enaku. Pertama kali di tag tetapi malangnya tak dapat nak disempurnakan.. mohon maaf ye =)

Type AYA Y 6 and SMS to 36828

Vote for Muhtar Suhaili.. shortlisted nominees for Most Outstanding Youth of the Year 2007. Why you should vote for him? Because I know him.. he is my senior.. hoho :p

He was the President of SRC IIUM 2003/2004.. he also a student of Mechatronics Engineering and now he works as a Control and Automation Engineer at Shell.

"His parents were illiterate and he grew up in poverty. Now this young engineer is helping others to do well. He believes that everybody has a potential to succeed.. provided they have a 'can do' spirit. He works closely with young people including secondary school students through his motivational and inspirational talks. Indeed.. his life itself is exemplary to many who know him."

For more information.. visit these sites..

AYA Dream Malaysia Awards
Muhtar Suhaili As-Sarawaki

Real Estate Investment

In this entry.. we shared about 3 different types of income. Now.. we will discuss more on passive income.

Passive income is payments that you receive from the assets you have created. These payments usually come monthly and require little or no work for you to receive them. Passive income is what makes a person rich. If you have more than enough passive income to cover your expenses.. you are rich.

Real estate is the major source of passive income. You buy a house.. rent it.. then you will receive passive income every month. Sounds easy.. right? But it's not easy as you thought.

If you want to be success in whatever you do.. you must invest in yourself first. To be a successful real estate investor.. you need to know the real technique behind the successful investors. How? Learn from them.. ask them everything you need to know.

One of millionaire real estate investor in Malaysia will share with you his real key of success. Are you ready? Read these out..

Rule of Investing No 5
Millionaire real estate investor