“The greatest failure lies hidden behind the greatest success.” (from Day Trade, Nikkei BP Publishing)

“Chapter 5: The Seven Sins in Trading”

From “The Fifth Sin: Falling into Excessive Self-Satisfaction.”

“When you are on a winning streak, your guard becomes lax, a phenomenon that all traders experience. This stems from gradually letting self-satisfaction dull your focus. However, if you want to survive as a trader, you must not fall into this extremely common bad habit. It is precisely when everything is going smoothly that you must increase your vigilance.The greatest failure is hidden behind the greatest success.”

When a long trend has continued,

you may be able to gain profits by catching many pullbacks.

If you get carried away and trade carelessly, soon you will

enter a trend reversal or a range-bound market,

and you will experience the kind of drawdown that erases your profits up to then.

“Proud Heike clan did not endure long,” “Win and tighten the string on your helmet,”

throughout history and across the world, people repeat the same mistakes, don’t they?

It’s something to be careful about (laughs).

Until next time.