Psychology of trading is the most important aspect of the success of a trader. It may surprise some readers, especially those new to the world of trading. However, the trader's psychological condition is more important than knowledge of the market, market analysis, and even more important than money management. The reason psychology is so important is that the best information can be distorted by a poor mindset.
Most new traders think the key to taking advantage of trade after knowing more about the market. For example, most new traders clog their screens with each indicator they have been able to find, read about the trend of European GDP, and felt that the pro merchants have some sort of secret knowledge. However, this certainly does not give good results for novice traders who usually expect this to be achieved.
After realizing that the market information overload does not help (and perhaps too painful), the next moment of truth that most traders usually have is money management. Conversely for every time trading 1 lot, or even the maximum trading accounts that use a lot of them, possible, these traders to realize losses that will occur. When you realize that everyone is missing the opportunity, then it's easier to understand why money management is required. This is a big step, but does not guarantee success.
Now, make no mistake, you need to have some form of analysis and some form of money management for profits in the long run. In other words, you need an edge that when applied with proper money management leads to a positive return over the amount of trading that you have lakukan.Pengelolaan big money with an edge not only will mean you lose your money more slowly. A great strategy without money management will lead to the upper punch inevitable. However, without the right mindset, almost impossible to keep getting good results in the long run.
The point is that kerdilah mindset that can sabotage even the best trading strategy or even money management strategies. The biggest test in the psychology of trading occurs during the withdrawal. This occurs when a trader in a "slump" and has a poor outcome for a specified period. Usually the most damaging withdrawal removes a large amount of profits earned.
Keep in mind, draw downs is absolutely normal. Everyone has them on kesempatan.Namun, the key is to react properly to the withdrawal. This is why the psychology of trading is very important. Natural reaction during the withdrawal is to change your strategy. Sometimes dealers will take trades even without any reason except the desperate chance at a profit. Assuming you believe that the methodology is sound, there is no reason to change anything during a withdrawal. In fact, it is the most important to follow the basics. Think about a baseball bat in a slump.Sometimes they will change their attitude, but usually they keep the same basic stance and swing. Instead, they focus on the basics of keeping their head still, keep their hands back, and seterusnya.Untuk some reason traders tend to panic in this situation and change everything. This leads to a larger withdrawal, which usually ends when the merchant switch back to their main strategy.
In conclusion, the above steps describe the general process in the trade to achieve consistent results. Almost all traders be successful after they were able to develop strategies that give them an edge, money management, trading psychology and proper....
Most new traders think the key to taking advantage of trade after knowing more about the market. For example, most new traders clog their screens with each indicator they have been able to find, read about the trend of European GDP, and felt that the pro merchants have some sort of secret knowledge. However, this certainly does not give good results for novice traders who usually expect this to be achieved.
After realizing that the market information overload does not help (and perhaps too painful), the next moment of truth that most traders usually have is money management. Conversely for every time trading 1 lot, or even the maximum trading accounts that use a lot of them, possible, these traders to realize losses that will occur. When you realize that everyone is missing the opportunity, then it's easier to understand why money management is required. This is a big step, but does not guarantee success.
Now, make no mistake, you need to have some form of analysis and some form of money management for profits in the long run. In other words, you need an edge that when applied with proper money management leads to a positive return over the amount of trading that you have lakukan.Pengelolaan big money with an edge not only will mean you lose your money more slowly. A great strategy without money management will lead to the upper punch inevitable. However, without the right mindset, almost impossible to keep getting good results in the long run.
The point is that kerdilah mindset that can sabotage even the best trading strategy or even money management strategies. The biggest test in the psychology of trading occurs during the withdrawal. This occurs when a trader in a "slump" and has a poor outcome for a specified period. Usually the most damaging withdrawal removes a large amount of profits earned.
Keep in mind, draw downs is absolutely normal. Everyone has them on kesempatan.Namun, the key is to react properly to the withdrawal. This is why the psychology of trading is very important. Natural reaction during the withdrawal is to change your strategy. Sometimes dealers will take trades even without any reason except the desperate chance at a profit. Assuming you believe that the methodology is sound, there is no reason to change anything during a withdrawal. In fact, it is the most important to follow the basics. Think about a baseball bat in a slump.Sometimes they will change their attitude, but usually they keep the same basic stance and swing. Instead, they focus on the basics of keeping their head still, keep their hands back, and seterusnya.Untuk some reason traders tend to panic in this situation and change everything. This leads to a larger withdrawal, which usually ends when the merchant switch back to their main strategy.
In conclusion, the above steps describe the general process in the trade to achieve consistent results. Almost all traders be successful after they were able to develop strategies that give them an edge, money management, trading psychology and proper....
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