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The influence of emotion

Let's assume you have traded gold several times, and each time you made a good profit. You might be tempted to start believing (perhaps subconsciously) that "gold is your friend," and that it will reward you in the same way every time.

Once you develop this belief, there is a risk of opening additional positions in gold without taking the current situation into account properly.

Unfortunately, there is no guarantee that a particular instrument that was profitable in the past will continue to yield profits for you. But similarly, if you have had a bad experience with a particular asset, there is no reason for you to avoid any future opportunities that this asset may present.