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It is often heard trading is 80% psychological 20% methodological. Is this mean regardless of trading method, if one can totally control his/her emotional issues will thus be a profitable trader?
psychologically issues
- 5 Answers
- In Trading Mindset and Psychology
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- by
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- Warren
- 189 Views
- 1 year ago
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Yes it is very important to control one's emotions like greed and fear while trading to become a profitable and successful trader. Trading method is also important but eventhough two persons have the same trading method/plan, controlling your emotions definitely gives an edge over other to become a successful trader. |
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The ability to control the emotion is just clearing one of the hurdles towards profitability. It helps us to make lesser mistake, but we still need to find the edge to trade to win. |
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Trading is fear and greed and this is purely our psychology however good the system we are using may be we need the courage and consistency to pull the trigger, Knowing where we are wrong in a trade is very important cut the loses so as to be able to trade another day. |
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For the most part that is the meaning behind it. You still have to have a solid plan for finding the right setups and styles that work best for you. You have to accept losing as part of trading and that i will happen. Most can't the idea of a loss and let a small loser turn into a catastrophic one when its too late. Having rules for entry and exits takes the emotion out of trading. |
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