I really appreciate your writings
on trader psychology and you know well how many of us think (retail traders jumping from one system to the next, etc...).
Not exact matches
The substantial broad market rally that came last Friday, which closed out the week
on a high note, perfectly confirmed the
trader psychology lessons of our previous two posts.
If you want to learn how to read the «graphic representation» of human
psychology on the charts as mentioned by Al Weiss in his quote above, as well as more about the principles discussed today, checkout my price action trading course and
traders community.
With no specific news or triggers evident that could explain the rally, the ethereum rally right now appears to be driven primarily by
psychology, fear of missing out (FOMO), and trend - following
traders jumping
on the bandwagon.
Experienced
traders work
on their
psychology.
While some
traders may try to fix their
psychology in one sweeping move, others focus
on small steps.
Forex trading is no different; whether it's a book
on trading
psychology or the knowledge of an experienced Forex trading coach, learning something each day to make yourself a better
trader will only improve your edge in the markets.
From my experience of working with aspiring
traders, it's become obvious to me that whilst most
traders are aware that
psychology is an important factor in trading, very few of them focus
on it enough.
I guess it will depend
on individual
trader psychology, the market situation, as well as a given setup.