Essentials Of Trading Psychology

dbphoenix

Legendary member
6,952 1,244
One might make the same observation regarding the importance of psychology in marriage, or business, or child-rearing, or driving, or grocery-shopping. There's nothing particularly important about psychology in trading per se. What is impossible to overestimate is the importance of a trading plan. If it's sound, and the trader follows it, whether he's upset or happy or sad is beside the point.
 

hscot

Member
74 3
Such trivial thing as psychology is often the reason traders can't get profit. It's true even for people who have enough experience and knowledge.
 

Quantt

Established member
944 57
One might make the same observation regarding the importance of psychology in marriage, or business, or child-rearing, or driving, or grocery-shopping. There's nothing particularly important about psychology in trading per se. What is impossible to overestimate is the importance of a trading plan. If it's sound, and the trader follows it, whether he's upset or happy or sad is beside the point.
Absolutely! if you have a sound back tested plan, this is the conviction you'll need to execute... (the next step is to automate it, so you won't make mistakes) and that's all you need, no need to meditate, yoga, drinks, weed, etc... all the psychological aspect of trading is taken care off in one single swoop...
 

Dominic

Member
94 4
All people are different and can be in different mental states. Of course, we all have some similarities, but when it comes to details, we're all unique. And that's what we call individuality. But, one way or another, you can develop your mind or personality, if you like.
 

Arashimuro

Member
86 6
Unfortunately, not all traders agree that psychology is very important in trade. Big mistake. I used to think that all this is nonsense until I myself ran into this problem.
 

predator

Member
90 1
those who think that psychology is not important for trading don't stay in forex for long. Psychology is important at least because it helps to make well-considered decisions.
 

NVP

Legendary member
36,771 1,880
i recommend all traders watch the big short......then ask yourself ......would you have held your short positions to the end in the face of all the flak those guys took for shorting loans.....

serious mindgames ......

N
 

NVP

Legendary member
36,771 1,880
you must have 100% belief in your system and 100% efficiency in your execution of it .........then with a solid understanding of probability theory you will be able to rationalise the inévitable drawdowns and disappointments that occur in building a solid sample size

that’s where the mind games are .......managing that failed trade scénario cycle

which will,happen
 
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steveday76

Junior member
16 1
It is so important to master this. You must learn to trade without emotion.
 

Hudson Jack

Junior member
11 0
Psychological component to trading should not be overlooked. Being aware of how fear or greed can impact trading, exercising discipline or developing trading rules are crucial to trader’s success.
 

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