By Steve Burns
When I asked “What kind of psychological edge do you have in your trading?” in my Facebook trading group I had a lot of great answers. Here are a compilation of many of their great answers.
Here are the 20 mental trading edges that a trader can use in their battle for profitability in the markets.
When I asked “What kind of psychological edge do you have in your trading?” in my Facebook trading group I had a lot of great answers. Here are a compilation of many of their great answers.
Here are the 20 mental trading edges that a trader can use in their battle for profitability in the markets.
- #1 goal is capital protection
- Focus on following a process
- Rarely committing trading errors
- Discipline
- Focus
- Trading with the predominant trend instead of your opinion
- Using entry and exit signals instead of emotions
- The goal is trading with discipline not trying to make money in every trade
- No regrets on a trade that followed your plan
- Patience
- Look at charts of the next highest timeframe
- Trade for capital appreciation not to pay monthly bills
- Trading your own capital
- Having realistic trading return expectations
- Previous trade, irrespective of profit or loss has no influence on next trade – (Srinath Madas)
- Trading with a position size that keeps your emotions out of your process
- Living a healthy lifestyle
- Living a balanced life
- You know that you are the weakest link in the trading process
- “Tons and tons of evidence that the models work over time as long as risk management criteria is adhered to.” – Richard Weissman
Source: www.newtraderu.com
