Second Pillar "Mind" (Trading Psychology)
Many traders already know that the determining element of trading success is determined by the method, money, and mind factors. Most traders focus more on trying to learn the method than money, let alone mind. Traders think hard, rack their brains and energy to find the perfect way of analysis. Actually there is nothing wrong with experiencing trading analysis methods, be it technical analysis or fundamental analysis. The problem is that you focus too much on the method, so you forget about money and mind.
Even though the method only contributes a small part of a trader's success. In fact, the success of traders is more influenced by money, and especially the mind (trading psychology). There are several reasons why most traders do not care about money, let alone mind.
1. Psychology is not easy to manage
Learning technical analysis or fundamental analysis and applying it is easier, because general analysis can be calculated. Analysis can be applied to sophisticated computer software, but not to trading psychology.
2. Psychology Is Not Understood By Most Traders
There are not many books that discuss trading psychology, even in English. Most traders think that traders already understand themselves but they don't. The fact is that only a few traders understand themselves, what are their weaknesses as humans that affect the quality of trading.
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