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  • Lecture 26 The Importance of Psychology PDF

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    Trading psychology is the most important aspect of trading, even more so than technical analysis, fundamentals, or risk management, because emotions can override everything else and cause traders to abandon what they know. While traders often work to improve their skills, they frequently overlook improving their emotional control and psychology, not realizing how much it impacts their trading. Understanding common emotional biases can help traders better manage their psychology.

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    Trading psychology is the most important aspect of trading, even more so than technical analysis, fundamentals, or risk management, because emotions can override everything else and cause traders to abandon what they know. While traders often work to improve their skills, they frequently overlook improving their emotional control and psychology, not realizing how much it impacts their trading. Understanding common emotional biases can help traders better manage their psychology.

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    11 vizualizări1 pagină

    Lecture 26 The Importance of Psychology PDF

    Încărcat de

    braetto_1x1
    Trading psychology is the most important aspect of trading, even more so than technical analysis, fundamentals, or risk management, because emotions can override everything else and cause traders to abandon what they know. While traders often work to improve their skills, they frequently overlook improving their emotional control and psychology, not realizing how much it impacts their trading. Understanding common emotional biases can help traders better manage their psychology.

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    Lecture 26

    e Importance of Psychology
    Trading psychology is by far the most important aspect in trading. It is more import-
    ant than technical, fundamentals and EVEN risk management. The reason for this is
    that your emotions can control you in a way that everything you know about trading
    is thrown out the window and thus your knowledge can’t even help you. Traders con-
    tinually improve on what they see that they need to improve on; some traders will
    improve on chart reading, some will work on risk management and so forth. The
    problem is that traders forget to work on their emotions and psychology. This is due
    to the fact that they don’t know that this is actually affecting their trading. You cannot
    improve on what you don’t know is actually there. And trust me; humans are filled
    with biases that interfere with their trading.

    To better get an understanding of how to improve on our trading psychology, let’s take
    a look at some emotional biases that humans have:

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