What trading lesson can we get from boxing?
Boxing highlights a big trading emotion
I've just been reading an FT article on UK boxing promoter Frank Warren. He's more or less the Don King of UK boxing and is just as well known abroad
There's one line in the article that caught my attention;
"You can build a fighter who becomes a real star and one punch can change that"
We can apply that to trading too. Confidence is a huge part of trading. When you're winning and on a hot streak you feel on top of the world. It only takes one punch to your account to undo all that confidence, and if you can't manage your emotions it can lead to a downward spiral
It's something I've spoken about on our ACT course that confidence is undone twice as fast as grows
How many of you suffer from a blow to your confidence when a trade goes wrong or your account takes a big hit?
Do you suffer from over confidence that bites you in the arse?
What do you do to get over it?
Let me know in the comments