Stock Market/Economy Updates
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Trading/Investing Education
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Trading/Investing Education
If you’re a swing trader, focus on developing patience.
If you’re a scalper, focus on developing a quick execution.
If you’re a day trader, focus on developing flexibility.
Develop your skills, build your trading success.
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5 Replies
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Lack of money is killing you.
Stop focusing on money.
Start focusing on:
– Risk
– Execution
– ProcessYou trade 10x better when you stop focusing on money.
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The more you lose,
The more you realize that losing is normal.
The more you win,
The more you realize that anyone can win 1 trade.
The more you trade,
The more you realize that trading is a war of patience.
That’s trading experience.
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Successful trading is:
– Probability, not certainty
– Edges, not magic formulas
– Waiting, not trading all the time
– Calculated risks, not stupid risks
– Self-discipline, not random trades
– Long term goals, not an online lotteryStop wasting time.
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Most traders are afraid to lose because they don’t think in probabilities.
1 loss and they get angry.
2-3 losses and they change system.
10-20 losses and they give up.
Thinking in probabilities is the best way to control your trading emotions.
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Six Reasons Why People Lose Money in the Stock Market:
1) Fear of missing out
2) Chasing ‘hot’ stocks – Often backfires
3) Herd mentality
4) Emotions over logic in decision making
5) Ignoring diversification
6) Overconfidence and trying to time the market
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