What makes successful trading ? Nr. 1/4 - Psychology and Psyche
Dear Followers and Tradingview users,
welcome to todays education post about psyche in Trading. We post from now on once a month something to the topic: what make successful trading
The psyche of a person and with it all feelings and reactions are often decisive whether someone is successful in trading or not. When it comes to trading with money, many people experience feelings and reactions that they were not used to before.Very often instinctively wrong decisions are made.
In addition to a lot of discipline, a strong psyche is also necessary for a successful trader to be able to deal with such situations.
But what makes a strong psyche ?
1. I know who I am and who I want to be in the future.
2. I know where I currently stand in life and know where I want to stand in 5, 10 and 20 years. In concrete terms this means: one has goals.
3. I solve problems directly instead of postponing them or dragging them with me
4. I am pure with myself
5. I am balanced and not stressed
6. I do not use money that I need urgently and promptly
7. I am aware of my abilities and do not overestimate myself excessively, because I am lying to myself with this
How can I train my psyche ?
There are many effective ways to do this.
But the main thing is to have concrete goals in life and not to live from day to day without planning. Make weekly plans on Sundays which you then check daily. Be disciplined and stick to your own rules, only this way you will be successful in the long run.
Additionally the following points are important to stay mentally fit
1. regular sport
2. healthy nutrition
3. listen to classical music
4. read books about trading and psychology, in generell read books !
5. conduct honest conversations with family and friends
Conclusion
If you are balanced and at peace with yourself, it will be much easier for you to process losses and learn from them or to learn in generell. You will no longer be so afraid to observe the market and open positions at your own risk.
Try to implement the above points and check yourselves regularly whether you still strictly adhere to it.
It will not work overnight but after 2-3 weeks you will surely notice a difference.
If you are balanced and at peace with yourself, it will be much easier for you to process losses and learn from them. You will no longer be so afraid to observe the market and open positions at your own risk.
I hope this summary gave you an incentive to change something if you needed to !
welcome to todays education post about psyche in Trading. We post from now on once a month something to the topic: what make successful trading
The psyche of a person and with it all feelings and reactions are often decisive whether someone is successful in trading or not. When it comes to trading with money, many people experience feelings and reactions that they were not used to before.Very often instinctively wrong decisions are made.
In addition to a lot of discipline, a strong psyche is also necessary for a successful trader to be able to deal with such situations.
But what makes a strong psyche ?
1. I know who I am and who I want to be in the future.
2. I know where I currently stand in life and know where I want to stand in 5, 10 and 20 years. In concrete terms this means: one has goals.
3. I solve problems directly instead of postponing them or dragging them with me
4. I am pure with myself
5. I am balanced and not stressed
6. I do not use money that I need urgently and promptly
7. I am aware of my abilities and do not overestimate myself excessively, because I am lying to myself with this
How can I train my psyche ?
There are many effective ways to do this.
But the main thing is to have concrete goals in life and not to live from day to day without planning. Make weekly plans on Sundays which you then check daily. Be disciplined and stick to your own rules, only this way you will be successful in the long run.
Additionally the following points are important to stay mentally fit
1. regular sport
2. healthy nutrition
3. listen to classical music
4. read books about trading and psychology, in generell read books !
5. conduct honest conversations with family and friends
Conclusion
If you are balanced and at peace with yourself, it will be much easier for you to process losses and learn from them or to learn in generell. You will no longer be so afraid to observe the market and open positions at your own risk.
Try to implement the above points and check yourselves regularly whether you still strictly adhere to it.
It will not work overnight but after 2-3 weeks you will surely notice a difference.
If you are balanced and at peace with yourself, it will be much easier for you to process losses and learn from them. You will no longer be so afraid to observe the market and open positions at your own risk.
I hope this summary gave you an incentive to change something if you needed to !
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
