Trading Psychology ⭐️ Flashcards
What is trading psychology?
The branch of trading that is not technical or fundamental
Deals with mental emotional state
Represent trading tha behavior that influence
Why is trading paysology so important
We are our own worst enemy
Examples of trading psychology
Have a trading plan but don’t follow it
Know about risk management but risk more or less
Know how to read charts but stuck
Doing same mistakes over
When you lose a trade you take it personal
Lose a trade but try to get it back (revenge trading)
Enter your love account but can’t put it down
Your succes as a trader will come down to your
Beleifs
Emotions
Thoughts
Trading psychology will drastically effect
Discipline must follow rules
Risk management tolerance knowing your risk appetite must accept the risk
Emotions and your response learn to lose like a winner
How you organize your actions
Mental strategy how we organize our actions
Consistency
When your trading you must examine
What is your why
Trading paradox
In order to be successful and consistent you cannot think about or focus on your why.
