Trade Psychology - Greed.Fear.Ignorance: Analyzing my Trading Mental State

I have to take ownership of my errors and lapses of judgement just as quickly as I would take ownership of an outstanding winning trade that I may have executed. I really cannot afford to deflect, or to pretend that whatever it is I may be doing wrong is something other than my own fault. At all times I must be able to objectively look at the decisions I make in order to be able to decipher how to gain more ground when day trading the financial markets. My Trading Mental State is the backbone of this business and the Internal Dialogue I have with myself when working through my IPDE Framework of deciding what orders to place at any given moment, must be grounded in rational thought based on my consistent methodology of putting myself through this process of recording as many of the emotions I can identify throughout every given trading session.

At the end of the day, every Day Trader is going to go through the cycle of emotions any normal human being would feel. So really, you can't expect to win them all, but, you can't expect to win any if you don't do anything about it either.

Stay ahead of the curve, plan for success, work for the rest.

Category:

People & Blogs

Tags:

• Behavioral Finance
• Trade Psychology
• Trader Discipline