It is said that trading is 90% psychological and 10% methodological. Does this then imply that regardless of trading method, a trader that has control over their emotional issues will thus be a profitable trader, or will it be impossible to ever control emotions without the proficient implementation of method?
Trading Psychology – Consecutive Loses AND The Trading Psychology Spiral
You go long and the market immediately goes down – you go short and the market immediately goes up. That’s 2 consecutive losses, and you are getting a little ‘anxious’ so you don’t take the ‘next’ trade. Of course, this trade is a winner. Now to make the situation worse, you then ‘chase’ the move, and as soon as you enter the trade it immediately reverses, thus giving you another loss this is now 3 in a row. Ok one more try – this can’t happen on every trade can it?
So You Want To Become A Futures Day Trader
You wake up one morning with a really BAD idea you have decided to start making your living by becoming a futures day trader. BUT how can this be such a bad idea, dont people get rich day trading futures? Where did that idea come from?