Psychology plays a significant role in trading because it influences decision-making, risk management, discipline, and emotional control.
Here are some key psychological aspects traders need to address: 👇🏼📢📇
@TheToff_ The plan gives you the discipline, while flexibility allows you to adapt to what the market is actually showing you. The key is knowing the difference between adapting and breaking your rules because of emotions.
@winwithbennie@RonTrd1 what advice would you give to traders who have been trading for 5&6 years but are still not profitable? What should they focus on or change to finally make progress?
@winwithbennie@TheToff_ I’ve been thinking about trading psychology. You mentioned reading books to improve your psychology but how did you actually master it gradually in your trading? What practical things did you do to control emotions, overtrading, fear, revenge and sticking to your plan?