Trading psychology Powerup Capital
2 likes1,961 views
To be a successful trader, one must master trading strategies, money management, and managing emotions. The document discusses how traders struggle with decisions around entering and exiting trades due to emotional challenges. It emphasizes that developing a consistent trading plan that addresses methods, money management, and mindset can help traders make better decisions and manage risk. Specific tips include relaxation exercises, having a clear trading plan, understanding relationships with money, paying attention to body signals, keeping a trading journal, and using affirmations and visualization.
More Related Content
Similar to Trading psychology Powerup Capital (20)
Trading psychology Powerup Capital
- 1. TRADING PSYCHOLOGY To be a successful trader, your intellect and emotion must work as one team.
- 2. There are three main areas we need to master to become successful traders – • Trading Strategies • Money Management • Working with our emotions
- 3. Can t decide Should I? Shouldn t I? Shouldn t I? Should I? Why am I not able to pull the trigger, even when I am right?
- 4. Can t take losses Aghh! Loss again….. What s wrong with me? How could I lose?
- 5. Many moderate wins = One giant loss Reproduced from Cartoonstock.com Why do I lose my winnings in blow-out trades, repeatedly?
- 6. Forex Consistent profits Trading System Control emotions Make profits Get greedy Your mental Learn Trading Apply Trading Lose money Strategy conditioning Method Get fearful Blow up Open account Fund account Close account account
- 7. Personal Experience CONSCIOUS MIND H O Health Blueprint M E UNCONSCIOUS Wealth Blueprint O MIND S Driving force Happiness Blueprint T Love Blueprint A S I S B Watch Charts O Click to enter/exit D
- 8. THE LINK Pay attention to your body signals CONSCIOUS MIND (Step 1) UNCONSCIOUS Visualization Affirmations MIND Faith (Step 2) Bio-feedback Conditioning changes, B Performance improves O (Step 3) D
- 9. Your Emotional Experience while Trading 1 – Rarely 2 – Occasionally 3 – Sometimes 4 – Frequently 5 – Almost always I am happy while I am stressed while trading trading I am alert & energetic I am anxious while while trading trading I am capable of making I blame myself for my successful trades losses I am in control while I make impulsive trading decisions while trading I am satisfied with my I get edgy and trading results frustrated while trading
- 10. TRADING PLAN § Trading is a business A Trading Plan is a guide for running § this business A good Plan addresses all three § aspects of trading – Method, Money and Mind.
- 11. TRADING PLAN § Master the Method § Strategy may vary depending on market conditions § Markets are unpredictable – flexibility is required.
- 12. TRADING PLAN A good understanding of risk and § reward – Money Management The potential Profit and Loss in a trade § are equally important Stop Loss to limit loss; Trailing Stop to § maximize profits
- 13. TRADING PLAN § Last, but not the least, is the Mindset. § Relaxation techniques § Awareness of body signals and emotions § Think PIPs - not Money
- 14. TIPS (Body) § Start your trading session with a few Relaxation exercises § Energize yourself either through faith or motivation
- 15. TIPS (Conscious mind) Have a Trading Plan you are comfortable § with § Understand your relationship with money Learn Money Management techniques – in § the real world they are as important as trading techniques
- 16. TIPS (Unconscious Mind) § Pay attention to your Body Signals while trading Keep a Trading Journal with details of § your trade and also what your emotions were during that trade Pay special attention to your emotions § when you face a loss § Be aware of Negative Self-talk
- 17. TIPS § Use affirmations and visualization to keep up your positivity § Give Gratitude – not many in this world have the opportunity to sit at home and make money!
- 18. A good trading day is one in which you follow your Trading Strategy in a calm and confident manner, making sure that, at the same time, you are managing your money well – when in gain or loss. This, in turn, will enhance your profits and consistency, making you a truly successful trader who can trade for a living! Thank you!