To be successful at day trading, you need to have the right tools trading day, select the correct markets and have the proper day trading systems. What's more important than those, however, is the right psychological and emotional outlook. These little friends of yours, that give you a nudge every now and then called fear and greed.
PSYCHOLOGY TRADING DAY:
Without the proper day trading psychology, it is almost inevitable that they will fail as a trader, and why I can say that it is due to some thing that controls all our behavior. and this is the emotion. Yes, although you do not want to admit it, and I think that your decisions are "reasonable" or anything else, every decision you make is whether to move away the pain or pleasure (or a combination of both). And if you think you can trade without emotional attachment, emotion will have great impact on trade and even may prevent you from trading at all.
The two main feelings people experience when trading day is the fear and greed, and while it will never be able to completely remove these feelings, you will need to manage and control their understanding of their purpose and how you can learn about yourself through the trading day ever then you thought possible.
DAY DIAPRAGMATEYSIS FEAR:
Fear is the emotion that stops us from doing things that might occur too risky. In most cases what stands for False evidence appearing real, but in the case of the trading day we have to look at things differently. With the correct quantity, fear is obviously an emotion that we need is a basic survival instinct to allow us to act quickly and to emerge from situations that could harm us. But when fear is unreasonable or excessively large can prevent us from doing things that might be required for us to achieve what we want. This is called a conflict of interest and it is a challenge faced by many people throughout their lives, not only in the trading day.
To a trading day, the Chief fear is that a trader is to make a losing trade and lose money. This is a rational fear as a trader wants to lose money, but is absurd if it prevents the dealer from taking any distribution in the first place. Any merchant, regardless of who is going to be 100% right all the time, this is impossible due to the variety of factors and changes on the market and in the world. Nothing is ever the same.
As an example of the irrational fear of trading day, a trader may make a losing trade, and then be too timid to make your next trade, which of course leads to a winning trade, we have reached the previous loss. Allowing fear responsible for inspection, the operator now has a net loss, although the next marketing success. Of course this will not be the case every time, but it shows that there is uncertainty that traders face and have to learn how to deal with.
Day trading fear can be overcome by a set of rules, education, guidance and practice. This is the exact reason why we have structured our emini day trading course, how you have.
DAY DIAPRAGMATEYSIS GREED:
Greed is the opposite feeling to fear. Is the feeling that we do things we don't normally do, because we want more. Wanting more is not a bad thing because you should be able to motivate yourself, however there is a line between greed and incentives that some people don't see.
When we're greedy we begin to do things, when we know that you won't. The trading day, greed can make merchants take random occupations or hold positions more than dictating their trading system.
For example, if a trader watch a market move sharply upwards, the operator may be tempted to make a trade, although their trading system tells us not to. Allowed greed to take control, and more often in this scenario, I would buy right at the end of the move, and then we have consequently a losing trade. Similarly, they can also stay in a great commercial and instead of exiting the market, remain in and all profits made are lost as turns the market.
Can overcome feelings of greed also with training, guidance and practice test and then trusting in your trading system, and knowing that, if followed correctly, will make a profit, without taking any potential trade.
As the saying goes: trading smart, not often.
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