I read this from Facebook.
It may be useful for new and old traders. ( If they follow )
This is an all too familiar story with many of my coaching clients. It’s also something I battled with for a long time.
The adage that trading is 10% technical and 90% emotional is certainly true. Most struggling traders I experience who have good technical skills, and who believe themselves to be clever and intelligent people, battle with emotions and those emotions sabotage their results.
They set themselves up for failure even before they place their first trade.
They don’t have unwavering faith and trust in their trade plan.
They don’t believe it is possible to make money from trading.
They have a fear of missing out and therefore take poor trades.
They revenge trade to make up for past losses.
They get greedy and leave profits on the table.
They overtrade and overleverage.
They are continually looking for a trade setup because they want to be in the market, rather than patiently waiting for their trade set up to occur.
Mastering your emotions can be a challenging and lengthy process. Emotions can rarely be changed, but they can be managed. Until you get a grip of your emotional state, trading will always be a frustrating, infuriating, mind-boggling process.
It may be useful for new and old traders. ( If they follow )
This is an all too familiar story with many of my coaching clients. It’s also something I battled with for a long time.
The adage that trading is 10% technical and 90% emotional is certainly true. Most struggling traders I experience who have good technical skills, and who believe themselves to be clever and intelligent people, battle with emotions and those emotions sabotage their results.
They set themselves up for failure even before they place their first trade.
They don’t have unwavering faith and trust in their trade plan. They don’t believe it is possible to make money from trading. They have a fear of missing out and therefore take poor trades. They revenge trade to make up for past losses. They get greedy and leave profits on the table. They overtrade and overleverage. They are continually looking for a trade setup because they want to be in the market, rather than patiently waiting for their trade set up to occur.Mastering your emotions can be a challenging and lengthy process. Emotions can rarely be changed, but they can be managed. Until you get a grip of your emotional state, trading will always be a frustrating, infuriating, mind-boggling process.
Intraday only.
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