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Take Emotions out of Your Trades With City Index Australia

SYDNEY, AUSTRALIA -- (Marketwire) -- 01/28/13 -- City Index Australia: It's often quoted that a trader's worst enemy is himself. And for the most part, it's true.

Fundamentally speaking, there are three main ways that a trader can keep his mental faculties in check.

Don't be scared.

Fear of losses is a huge part of trading psychology, and the quicker you can learn to overcome it, the better it will be for your profit and loss figures. Let the market do its thing, you can never change it. The key to successful trading is managing risk. Don't be greedy.

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Be yourself.

Don't listen to that guy who's whispering in your ear about an upcoming market move. He knows as much as you do about what the market is going to do. Only the market knows how and when it will make its move. Have a personality, and trade how you feel is best. Even if you lose out, at least you know you have yourself to blame.

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