chronicle of every Day traders and especially beginners...
but hey, to all beginners, don't give up.
you can begin by using scalping method. đ€đŒ
LIVE
FortuneNodeOfficial
--
đââïž I lost money for 3+ years trying to learn day trading.
đ«Ą Once I became a CONSISTENT Trader I made back all my losses back in 1 month.
đHere are 3 Trading Psychology Tips to accelerate your learning.đ
â Intelligence Levels When I first started trading every single time I would take a trade & lost I thought: Am I even smart enough to trade, why do I keep losing? This hindered my confidence as I believed I wasnât smart enough to be a full time trader.
â IQ
In reality trading has nothing to do with your IQ after a certain point. Trading is based on your EQ levels, emotional intelligence. A trade you enter and win doesnât mean your smart. A trade you lose doesnât mean your dumb. Itâs just PROBABILITIES of the market.
â Stop Loss Every single time a trade would go to my stop I would have 2 thoughts:
A: Should I stop out of this trade?
B: Iâve seen trades that I stop out of, go back to my profit target, maybe Iâll just hold.
â Stop Loss
90% of the time as a new trader I chose option B.
I would hold onto the loser in hope it came back to my profit which it rarely did.
But when it did I felt like I beat the market.
Which I didnât I was just building bad trading habits of not following my plan.
â Analysis Paralysis
After you lose money trading you start to build up this fear in your head that most trades you take will lose.
This fear blurs your vision even if your the best chartist in the world you wonât execute because you have no confidence.
â Analysis Paralysis
Therefore, I would see my A+ setups form & not take it because I thought:
- Iâll wait a little bit more to see if the trade confirms itself.
- Iâll wait longer to see if the trade gives me a better entry.
- Iâll wait b/c I donât want to lose.
â Analysis Paralysis
This kept me from entering trades that were in my system & worked.
But start taking subpar trades after I saw a trade go without me making me lose twice.
đââïžIn Conclusion,
I hope this post helped you understand some of the crucial psychology aspects
Avertissement : comprend des opinions de tiers. Il ne sâagit pas dâun conseil financier. Consultez les CG.