In trading, you are your own worst enemy. Fear of missing out and chasing. Fear of taking losses because you’re scared. Not taking profits because of greed. Revenge trading because you want to make back what you lost. No matter what stage in your trading journey you are in, trading psychology is the biggest obstacle …
Read more5 Trading Psychology Lessons Every Trader Needs to Learn
Your decision-making abilities are tested in trading more than in any other profession. Every decision you make will either move closer or further to making or losing money. Many of you reading this have moments where you get struck with indecision: Should I be trading this stock? Should I enter now? Should I take some …
Big egos are the #1 cause of account blow ups. No one likes to admit they are wrong. But unlike in life, the consequences of stubbornness are much more severe in trading. Getting attached to your opinions is the worst possible thing for your trading career. Trading education everywhere talks about the importance of keeping …
Scared money does not make money in the stock market. Traders who trade with fear will never be able to consistently extract income from the markets. Fear manifests itself in many different forms in trading. We discussed one of the forms yesterday in our article about FOMO. Today we will talk about the other ways …
FOMO haunts traders of all experience levels. Fear of missing out on a big market move causes traders to make rash decisions, and costs them big money. It was one of my biggest obstacles on my path to becoming a successful trader. For some people, missing out on a big move is worse than taking …
Everyone wants to say they’ve completed a marathon and check it off their bucket list. But few actually will train and have the perseverance to finish it. Everyone wants to be able to consistently make money from the stock market. But few are willing to put in the effort and dedication that is required. If …