Trading Psychology
1. Control Your Emotions
Fear and greed are your biggest enemies.
Use predefined strategies and stop-losses to remove emotional decision-making.
2. Accept Losses as Part of the Game
Losses are inevitable; even top traders lose trades.
Focus on consistency and the long-term edge, not being right every time.
3. Stick to Your Plan
Don’t deviate from your trading system based on “gut feelings.”
Trust your research and stay disciplined.
4. Avoid Overtrading
Quality over quantity. More trades don’t mean more profit.
Only take trades that meet all your criteria.
5. Manage Expectations
Trading is not a get-rich-quick scheme.
Set realistic goals and be patient with your growth.
6. Practice Mindfulness or Meditation
Regular mindfulness can help reduce impulsive behavior.
Stay calm and focused, especially after a loss.
7. Keep a Trading Journal
Record why you took a trade, what happened, and how you felt.
Review it weekly to identify emotional patterns and improve.