Monday, November 26, 2012

The Importance of Psychology in Trading

The Importance of Psychology in Trading


Trading PsychologyIn past articles, I have told my readers about the quality trading seminars I have attended through the years and how beneficial they are to anyone seeking knowledge and wisdom on the road to becoming a successful trader. The other night I was browsing through the workbook from a Technical Analysis Group (TAG) conference I attended in 1996.
These TAG workbooks are packed with valuable information presented by all the speakers (usually 20 or more) at each conference. As I was thumbing through this particular workbook, there was a common theme espoused by the majority of presenters at the conference: In order to succeed at trading, it's not only important to strive to learn more about markets and trading tools, but it's also very important for a trader to know himself or herself. This is part of the all-important--but sometimes overlooked--aspect of "trading psychology."  Read more