Individuals rarely conquer the markets. However, with consistent effort they are able to conquer themselves and take control of their trading behaviour. Most often, the point at which a market participant believes that they are the master of the price action that unfolds in front of their eyes is the point at which they are most exposed to a significant drawdown. Novice traders in particular must realise that there is a very fine line between self-belief (a prerequisite to being an elite trader) and arrogance. At Futex Academy we identify these traits in aspiring traders at an early stage and devote significant amounts of time to encouraging the first trait and minimising the negative impact of the latter. (more...)