Hi guys my first time joining in a trading community, my name is Athie. been in the markets for almost 2 years. my whole experience has been self-taught. it has been a very pleasant journey, as I was fascinated by the markets and what makes it move.
my only struggle is psychology.
I hope this community will help me with what i hope to achieve and to keep a steady rise slope in my trading life.
Hi Athie - Welcome to the community.
Psychology is the big thing, as you have found out.
If you haven’t read already, I would thoroughly recommend - the bible of psychology.
’Trading in the Zone’-Mark Douglas
Good trading
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Emotional responses is the norm. Accept it but aim to become detached at what is happening to your trades, as the only control you have is minimising your risk.
The two key emotions are : FEAR & PAIN
Fear of missing out. (FOMO) . Pro traders will add to winning positions, bringing up S/L to breakeven plus 1-3 points.
Fear of losing and hoping the trade will return in your direction. Pro traders will accept pain and close losing trades.
As you can see, a detached mindset that for me the most difficult is to rely on winning trades being eventually successful. Using a trailing S/L is one remedy.
Hope that helps.
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Thank you for the recommendation. i’ve been watching his videos recently. i’ll try the book
You are heading in the right direction. 