Latest Posts

rss

Controlling your Emotions

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #

Emotions-asr1The fact is, the majority of traders lose because they cannot control their emotions – and their emotions cause them to make irrational trades and lose.

Trading psychology is one of the keys to investment success, but its impact is not understood by many investors, who simply think they need a good trading method, but this is only part of the equation for winning at currency trading.

The influence Of Hope and Fear

In currency trading psychology, two emotions that are constantly present are:Hope and fear. One of the traders who recognized this was the legendary trader W D Gann.

Hope and fear are destructive emotions and all traders are influenced by them, they are part of all traders’ psychology.

Hope and fear can make traders act irrationally, they know what they should do, but they simply can’t do it.

Executing a trading method with discipline is the only way to overcome destructive emotions.

Human Nature Is Constant – Exploit It for Trading Success It doesn’t matter what market you trade:

Commodities, stocks, currencies, or what type of trader you are, a day or position trader, the fact is, trading psychology influences the majority of traders.

If you can control your emotions and trade with a disciplined plan you can gain a trading edge. (more…)

Evaluating Yourself as a Trader

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #

1) What is the quality of your self-talk while trading?

2) What work do you do on yourself and your trading while the market is closed?

3) How would your trading profit/loss profile change if you eliminated a few days where you lacked proper risk control?

4) Does the size of your positions reflect the opportunity you see in the market?

5) Are trading losses often followed by further trading losses due to frustration?

6) Do you cut winning trades short because, deep inside, you don’t think you’ll be able to achieve large profits?

7) Is trading making you happy, proud, fulfilled, and content, or does it more often leave you feeling unhappy, guilty, frustrated, and dissatisfied?

8) Are you making trades because the market is giving you opportunity, or are you placing trades to fulfill needs–for excitement, self-esteem, recognition–that aren’t being met in the rest of your life?

9) Are you seeking returns that are realistic given your level of experience and development?

10) Can you identify the specific edges you possess over the many other motivated, interested traders that fail to achieve success in the markets?

Many answers to trading problems begin by asking the right questions.

Success

  
  Education
#  #  #  #

Success does not come from having one’s work recognised by others. It is the fruit of the seed that you lovingly planted.

When harvest time arrives, you can say to yourself: ‘I succeeded.’

You succeeded in gaining respect for your work because you did not work only to survive, but to demonstrate your love for others.

You managed to finish what you began, even though you did not foresee all the traps along the way. And when your enthusiasm waned because of the difficulties you encountered, you reached for discipline. And when discipline seemed about to disappear because you were tired, you used your moments of repose to think about what steps you needed to take in the future.
You were not paralyzed by the defeats that are inevitable in the lives of those who take risks. You didn’t sit agonising over what you lost when you had an idea that didn’t work.
You didn’t stop when you experienced moments of glory, because you had not yet reached your goal.
And when you  have to ask for help, you did not feel humiliated. And when you learned that someone needed help, you showed them all that you had learned, without fearing that you might be revealing secrets or being used by others.
To him who knocks, the door will open.
He who asks will receive.
He who consoles knows that he will be consoled.

Go to top