Trading psychology refers to the emotions and mental state that help dictate success or failure in trading securities. Trading psychology represents various aspects of an individual’s character and behaviors that influence their trading actions.
All traders have both wins and losses regardless of their strategy and system. Much like in sports traders don’t succeed on every trade just like baseball players don’t hit every pitch and basketball players don’t sink every basket.
The wrong trading psychology is one of the biggest things that cause people to fail in trading the financial markets. No trading system will work, no matter how good, if a trader can’t follow it with discipline and focus over a long period of time. It is emotions and ego that usually cause a trader … Read more
Here are the five primary 5 Reasons Why Traders Lose Money the majority of traders lose money in the markets.
No matter where you are in your trading or investing journey it is good to stay inspired and focused on your long-term goals and prize.
Professionals don’t count their money while they are working, they focus on execution. A surgeon doesn’t look at the clock for how much money they have made, they focus on the surgery, patient, and process.
The Hagakure: The Book of The Samurai was written in the early 18th century and explains many principles of the Samurai warrior. Many of these same principles can be used in business, sports, trading, and investing to achieve a warrior mindset and overcome your ego and emotions along with your adversaries.
Mastering your emotions and ego are an essential part of profitable trading as the trader is the weakest part of any trading system.
The psychology of trading can be just as important as the method chosen, the system development, the strategy used and risk management