Archives of “w d gann” tag

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Controlling your Emotions

  
  Education
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Emotions-controlThe 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 Stock market  trading.

The influence Of Hope and Fear

In 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. (more…)

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…)

Recommended Reading

  
Analysis, Education
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1. How to Make Money in Stocks  (by William J O’Neil)

This is the best stock market trading book ever written. It gives you an excellent blend of technical and fundamental analysis lessons based on what really works in the market. The strategies, methods and principles taught in this book are proven historically. This book covers a lot of ground and provides an excellent foundation to build your successful trading plan and begin your investment career.


2. Reminiscences of a Stock  Operator  (by Edwin Lefevre) 1923

An all time classic. This is the most widely read, highly recommended market trading book ever. Its certainly a must read for all investors, novice or experienced. Packed full of great trading knowledge. This book is full of market gems.


3. The Battle For Investment Survival  (by Gerald Loeb) 1935

Another all time classic. Great trading wisdom can be extracted from this book. Learn to trade stocks from one of the best. Loeb is truly a market genius. Reading this book would be a great investment in your future as a trader or investor. 


4. Market Wizards  (3 books by Jack D. Schwager)

Three excellent books that feature interviews of the world’s greatest traders and investors. The books ask questions that traders and investors would love to ask these superstars of trading. The answers given are a fantastic wealth of knowledge. Covers the stock market, futures, options and most other trading venues in the investment world.


5. Lessons From the Greatest Stock Traders of All Time  (by John Boik)

Five great stock market traders from various eras give you superb lessons on how to be a consistent winner. William J O’Neil, Gerald Loeb, Bernard Baruch, Jesse Livermore and Nicolas Darvis turn this book into a trading bible. Learn from the best and become a market superstar in the investment world. (more…)

The influence Of Hope & Fear

  
  Education
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In trading psychology, two emotions that are constantly to the fore are hope and fear. One of the traders who recognised this was the legendary trader W D Gann. 

“Hope and fear: I have written about this often in my books and I feel I cannot repeat it too often. The average person buys commodities because they hope they will go up, or because someone advises them, they will go up. This is the most dangerous thing to do, never trade on hope. Hope wrecks more people’s lives than anything else. Face the facts, and when you trade, trade on the facts, eliminating hope”
“Fear causes many losses. People sell out because they fear commodities are going lower, but they often wait until the decline has run its course and sell near the bottom – never make a trade on fear”

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