The psychology of the trader. How to keep emotions under control?

When trading, it is of course important to follow charts, strategies, etc. but the human psyche should not be forgotten. It is this that can contribute significantly to the failure of a deal.

Mental resilience is one of the key things on your path to successful trading. There are plenty of traders who can predict the direction of a move with a high probability and still don’t make money. If you don’t have your emotions under control, you’ll know the first time you make a trade that poor mental resilience will be your worst enemy

Trading should be treated as a business where it helps you most to trust and follow your chosen strategy, stick to the rules you set, record your trades and last but not least, focus on risk.

As we’ve already mentioned, trader psychology is one of the key things that can help you on your journey, but it can also bring you down quickly. 

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