When I was a newbie I always skimmed thru the parts about trading psychology and money mgmt. I had been successful in business for a long time, so obviously I knew how to manage money. Psychology? What a bunch of crap! I want to get to the part about making lots of money.
Well my friends, trading psychology is the part about making money.
I would like to get this thread going, here in the Beginners Section about the importance of trading psychology.
IMHO becoming a successful trader is an inside job.
Do you find yourself reading every thread, going back 2 years, in the
Strategy Section? Do you think that if you could just find the right strategy your problems would be over?
Do you find yourself changing strategies every week or two?
Well its not the strategy the trader uses, its the trader using the strategy!
If you are not successful, its not because you're stupid. In the first place, this is not rocket science. I believe that any motivated individual, that employs a disciplined regimen in conjunction with good money management
can attain a respectable level of success.
