- Take a moment and consider how you trade or invest
- You may base your trades on fundamental or TA
- You may trade based on hunches about economic and political trends
- You may use inside information like your favorite youtuber
- You may just base your trades on “hope.”
- Remember how you felt the last time you placed an order?
- Were you anxious to jump in or afraid of losing?
- Did you procrastinante before clicking the mouse?
- When you closed the trade, did you feel elated, resentful, humiliated, regretful?
These are feelings that THOUSANDS of traders have that merge into huge psychological tides that move the markets.
- The majority of traders and investors spend most of their time looking for good trades.
- Once they enter a trade, they lose control and either squirm from pain or grin from pleasure.
- They ride the emotional roller coaster and miss the essential element of winning! – MANAGEMENT OF YOUR OWN EMOTIONS
- Your inability to manage yourself leads to poor money management of your finances, positions, and decisions in the market.
- If your mind is not in gear with the markets, or if you ignore changes in mass psychology of crowds, then you have no chance of making money trading.
All winning professionals know the enormous importance of psychology in trading. All losing amateurs ignore it.
- TODAYS B90X – document your next trade. give us the BEFORE, DURING, AFTER emotions. Let us know below! Be honest! we love giving feedback to help you or to ask you great questions about how to be a more rational and logical investor. Remember, the cryptolifestyle is a long haul.
Also published on Medium.