Major Principles of good trading psychology
Traders must acknowledge their limitations and be willing to learn and improve.
Traders must be able to control their emotions and avoid making impulsive decisions.
Traders must be able to assess situations objectively and make decisions based on facts and data, not emotions.
Good traders are patient and wait for the right opportunities to present themselves.
Traders must have a plan for managing risk, including setting stop-losses and position sizing.
Good traders follow their trading plan consistently, even when it is difficult to do so.
Traders must be able to adapt to changing market conditions and adjust their strategy as needed.
Traders must have confidence in their ability to make good trading decisions and stick to their plan.
If all these are well followed such traders will be at least 80% successful.
By: via WCSE ANALYSIS ZONE
Traders must acknowledge their limitations and be willing to learn and improve.
Traders must be able to control their emotions and avoid making impulsive decisions.
Traders must be able to assess situations objectively and make decisions based on facts and data, not emotions.
Good traders are patient and wait for the right opportunities to present themselves.
Traders must have a plan for managing risk, including setting stop-losses and position sizing.
Good traders follow their trading plan consistently, even when it is difficult to do so.
Traders must be able to adapt to changing market conditions and adjust their strategy as needed.
Traders must have confidence in their ability to make good trading decisions and stick to their plan.
If all these are well followed such traders will be at least 80% successful.
By: via WCSE ANALYSIS ZONE
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