First of all before you start your business leading, you have to be ready by psychology on it. After checking this presentation and by following this advises you will get the result what you really expecting from yourself!
2. What is Trading Psychology?
Trading Psychology refers to all the human
impulses that have an effect on the market.Trading
psychology is an important discipline that needs to
be studied and understood by anyone who aims
toward long-term success in the financial market.
Self-mastery and emotional control are key to
achieving consistency when trading. Most of what
you do while you are trading,takes place within
your own mind.
3. Trading Psychology is the perception change that you go
through once you are actively in the markets trading your own
money. When trading on a demo account, it seems like it
would be easy to make money and there seems to be no reason
why you wouldn’t be able to start making money with a live
account. Then, you make that first live trade and you start to
feel indecisive about when to take profit, or cut your losses.
You have just discovered the effect of trading psychology.
4. Emotions of Trading
To understand and eventually conquer your trading
psychology, you need to have a thorough understanding of
the major emotions that you’ll undoubtedly experience a
you trade the market.
NOTE: these emotions mainly apply to trading a live
account, demo trading does not bring out the same
emotional and psychological reactions in people because
thee is no real money involved.
5. Greed
Only way to make consistent money in the market, is by
having PATIENCE.