Open your mind and read!
Have you ever wondered why every time you buy, the market goes down, and every time you sell, the market goes up? The answer is simple: market psychology.
The market plays with your emotions. It makes you want to buy more before a big sell-off and makes you want to sell everything before a big increase. This is why it's important to remain calm and level-headed every day.
Emotions are hard to control, making trading extremely difficult. We make bad decisions when we are excited or scared.
How do you avoid feeling this way? One effective way is risk management. Do not overexpose yourself. Risk only what you can lose without worrying, and have profit targets you can be content with.
The amount will vary depending on your financial status, so it is important to be aware of your financial capabilities and manage your finances responsibly.
Do not give in to your emotions. When you are extremely fearful, it is probably the best time to buy. When you are extremely greedy, it is probably the best time to sell.
Stop trading based on feelings; you will lose every time. You have a better chance of winning if you do the opposite of what you feel. Trading is not hard when emotions aren't involved. It’s hard because we get emotional when risking our hard-earned money.
Size your positions better. Have fewer expectations. Set conservative price targets. Do this consistently, and you will have better days ahead.
Good luck trading today.