In trading emotional and psychological control is very difficult because of uncertainty and fear of getting our analysis and our logic wrong.
Certainly when you make a strategy and implemented you won’t implemented with only the rules behind the strategy but you take random rates you tried to analyse your strategy when you are testing your strategy so this makes garbage that disturb you are trading career.
This is became a strategy part.
But the real issue is fear behind the candles.
So the reason for one to not able to controlled their emotions psychology in trading is as,
- They think too much of the market
- Real market has different circumstances than the live market
- The skills and challenges are different when you analyse live or backtest
- The fear and anxiety when candles goes ups and downs is makes your confidence lows
- One trade with profit high your confidence you leave all strategy and do it on your own
- In losing streak you dont have any plan to sustain there for profitability
- You dont prepare yourself for sideways market where most of the 91 percent traders loose money
- You forget to learn understand and patiencly follow your strategies then you became overactive and just want to make profits.
- You have nowhere confidence in yourself that you will earn some money
- You only have losing streks you dont have the winning streaks in your strategy that keeps you in losses for long time
- Just follow your strategy and have faith in the strategy
- Trader dont believe in their setup loose confidence and think either they are great or they are the worst.
So above are the first things that traders most of the time suffer. Like consitency in losses and low profits. But overcoming this improve the psychology of traders.
I hope you get some knowledge out of it. And share your problems in trading that need to be solved. Okay do share it with people who is struggling in trading career…