Five Guiding Principles of Trading Psychology

We've just published a new T2W article called "Five Guiding Principles of Trading Psychology" by Brett Steenbarger.

Quick Summary: Brett Steenbarger discusses why it is important for traders to recognize and incorporate key principles of psychology into their life in order to attain consistent trading performance

PS. Don't forget to rate the article after you've read it and share your comments on this thread.

Very intresting ariticle. I do agree with these principles and I do believe that our trading stlye or strategies are the extention of our personalities. One thing Im very much impressed with in your article is the conclusion. Im really moved by the question you tossed up in the end "<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 19px;">Are you engaged in a structured training process?" </span>

<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 19px;">Thanks a lot trader for sharing your studies.</span>

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I'm surprised there hasn't been more comment on Steenbarger's article. His 5 principles crystalise what I've now found to be true after many years of trading. Training & pattern-recognition are key, in my opinion.

wise words

Brett, your insights are very helpful. I just started reading your TraderFeedBlog (I know it is no longer updated) but it is really wonderful. I am gonig to buy your coaching.

As a side note to Training. Trading in the Zone has a great idea for traning that I have been using.

Take a block of 20 trades and trade your trading plan. It has to be followed 100%. I am on trade #18. This process has been very helpful. I journal my reason for each trade, and (as you have said Brett) do I really have an edge to take that trade.

The entire process has been very eye opening. I have seen myself wanting to trade when it did not fit my plan. In some cases I did and in those cases I lost, or out of pure luck of the draw I made a small return.

I have been in and out of trading for years. Training is key, and getting back to basics.

in his two articles, he summed up how to become a successful trader.