Have you improved your trading psychology?

[RachelEB]

One of the biggest, if not the biggest obstacle, for new traders is psychology. It can make or break your trading and you can only work on improving it through trading, trading and trading in a real account. Improving your trading psychology should at least be given the same consideration and effort as you put into creating your trading strategy.

Keeping a journal may be a great tool for you in order to write down and monitor your progress. Those who ignore the hard work required into making improvements to their psychology are missing out on the biggest factor which will influence your trading results.

The Mark Douglas YouTube series - Trading in the Zone was a break through for me and my mindset. It is a long watch but completely worth it!

 

[JimmyRozza]

Time in the markets and experience is key.
I would love to say I have learnt from my mistakes. It's true in a sense, but I still do some times repeat the errors of my ways. Slowly getting there! No big losses for a long time at least

 

[Enayess]

Well, people are different, but as for me, my psychology improved without my conscious participation in it. I just got used to risking some money and I am ready to lose before opening a new deal. I feel that experience matters here. You can read lots of books on trading psychology or you can listen to milions of ideas which traders share, but the most important thing is to implement it on practice.

 

[HeavenLeighRob]

True. Factors like anxiety or other psychological issues can cause losses and traders may not realize the true issue without being educated on trading psychology. If one does succumb to any of those issues, they’ll be able to identify and come up with a solution more quickly.

 

[FriendlyFX]

Literally it's a case of trust in your strategy.
Set and Forget helps my mindset immensely.
Get your notification price taps a zone , buy/sell and let it go

 

[bigdolly]

I try to eliminate exposure of my feelings to trading via using stop loss and strict trading plan. I guess it is the key to fast progress.

 

[Waryangez]

One of the best ways to improve your trading psychology is to develop your skills. When you are confident you can naturally keep a positive mindset.

 

[sebking1986]

All trading has a possibility to lose everything quickly if risk management rules aren't followed. Some account managers, signals services, and EAs do follow risk management rules. Many don't. If you don't understand how risk management works, you won't be able to see if others follow them and won't be able to follow them yourself.

Agreed and to add to yoru original comment, the issue most don't consider with signals is if that trading style even suits their time needs.

 

[Ed1916]

For me, I’ve noticed it’s improved as my confidence has grown with trading, I’m more self-assured than I was. I also keep notes and reflect a lot.

 

[ThinkingThinking]

Do you think books are helpful with trading psychology?