Psychology of Investing

Trading is similar to such thrilling and dangerous sports as skydiving, rock climbing and scuba diving. They also attract mostly men . Fewer than 1% of hand-gliders are female.

You can succeed in trading only if you handle it as a serious intellectual pursuit. Emotional trading is lethal. To help ensure success, practice defensive money management. A good trader watches his capital as carefully as a professional scuba diver watches his air supply.