Tag Archives: emotions

Patience and Discipline Psychology.

10 Dec

PsychologyAll humans (including new traders and professional traders alike) experience emotions (often whether they like it or not), and trading is one activity that can elicit many different emotions and rather strong emotionss (like many monetary activities). As a result, new traders and professional traders alike, should know that their emotions are going to affect their trading whether they like it or not. In response, professional traders either have or develop personalities that allow them to overcome their emotions and trade profitably. Two of the most important such personality traits are patience and discipline, because they allow a trader to handle one of the most difficult aspects of trading (i.e. waiting for their next trade). Continue reading

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Emotions and The Holy Grail in Trading.(I)

9 Dec

Forex-Success-FormulaIt is widely believed by new traders, that there is a single trading system (i.e. a single set of trading rules), that is composed of a small group of technical analysis indicators (e.g. two stochastic lines and the MACD), with a certain configuration of technical indicator settings (e.g. twenty bar and thirty bar stochastic lines and a fifteen bar MACD), that can be traded on any market using any trading style (i.e. scalping, day trading, swing trading, or position trading) and always makes a profit. Many new traders spend years searching for the holy grail of trading, believing that it is the key to their being a consistently profitable trader. If you are one of the new traders that is (still) looking for the holy grail, today is your lucky day, because the holy grail of trading is revealed in the very next paragraph. Continue reading

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