Traders Improved Trading Podcast
Business:Investing
Trading is 90% psychology in my opinion. Although we might have a great system as traders, the way we execute our system is determined by our psychology and by our mental state.
The way we judge our performance and our trading are determined by our emotions.
You can see the best setup but if you are coming from a series of losses, you might hesitate or trade too small because you lack confidence. And if you just experienced a good run, you will often end up taking bad trades because you are over-confident. When you exit a profitable trade too soon or close a loss too late, emotions are the driving factors behind your decisions as well. And, of course, the big problems such as revenge trading, chasing or over-leveraging are all also a product of our emotions and our inability to manage them.
However, I believe that one specific trading emotion stands above all: Patience. Or better a lack of patience. In my latest podcast, I talked about why I believe that patience is the most important trading emotion / skill.
What do you think? Let me know in the comments below and I would love to hear your thoughts about patience and trading emotions in general.
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Your mind is against you! How to stop negative self talk and trade better | Traders Improved (#89)
How the ego is f*cking up your life and your trading | Traders Improved (#88)
What is fear of failure? How does it destroy you... | Traders Improved (#87)
The only key to long term success | Traders Improved (#86)
Can you trade the idea from someone else? | Traders Improved (#85)
Abundance mindset & limiting beliefs - Don’t listen to your parents and teachers | Traders Improved (#84)
How to take profits | Traders Improved (#83)
Why size and stop distance could save your trading | Traders Improved (#82)
Trading as a business and psychology tips with Matt Z. from Optimus Futures | Traders Improved (#81)
Trade management best practices | Traders Improved (#80)
Does gut feeling really exist? And what it's not! | Traders Improved (#79)
5 questions to improve your trading instantly | Traders Improved (#78)
How to create trading plans | Traders Improved (#77)
Trading is gambling. How to gamble like a pro | Traders Improved (#76)
How to grow from losses | Traders Improved (#75)
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