Practical Trading Psychology is all about showing our organised and actionable steps to help get you in the right trading and investing mindset.
Your experience maybe different but in my experience with trading and investing in the markets.
-> Being a successful trader comes from being confident
-> Being a confident trader comes from being experienced
-> Being an experienced trader comes from having time in the market
-> Having time in the market comes from 2 areas
1) having a good system that suits you
2) Being organised
This tutorial will focus on what I have done to become organised...
Practical Trading Psychology Overview
- Being organised goes a long way in treating trading as a business - not as a hobby.
- Before trading - organise your environment: trading area, computer, internet and even colour coded office supplies - it all helps.
- Organise your trading plan - maybe look at using flowcharts
- Review our processes for new trades, open positions, closed trades and end of month analysis.
1) Getting Started
The first part of the tutorial goes over a few sayings to help get you into the right mindset. The one I want to focus on in this tutorial is about treating trading as a business - not as a hobby.
2) Setup a Trading Room
There are a few steps needed to setup a trading room. Steps such as:
- Trading area free of distractions
- Computer setup, internet, broker selection and even down to colour-coded office supplies. It all helps to get you organised and into the right trading mindset
3) Our Trading Processes
We start off new trades by looking at the direction of the index. We have worksheets (derived from our trading flowcharts) for new trades, open positions and closed trades.
Our goal is to minimise the time we spend at the trading screens while increasing our results. In order to achieve that, our trading and investing processes are highly regimented and organised to keep us in the right mindset.
Are You Getting The Results You Want?
Are you new to trading or investing? Possibly you have been trading or investing for a while but not getting the results you want.
Then have a look at what we do. We trade Share CFDs with End of Day daily data and using our proprietary comparative strength and seasonal analysis. We also invest in ASX shares with End of Day weekly data and combine both fundamental analysis and technical analysis.
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