trader psychology is a joke. Futures Trade Psychology: When it comes to the world of science, psychology isn’t one. It is a subject area that is too subjective; conclusions are mushy, and not falsifiable or repeatable. As a college major, it is not in the top 20 (or 30) highest paying majors but in fact one of the lowest. The same is true for graduate school salaries. Trading psychology recommendations are outright silly: Consider the statement: “The most important attribute for making money in financial markets is self-confidence” but how is confidence, self or otherwise, defined and measured? If self-confidence cannot be defined or measured, it cannot be understood so how can it be the most important? The same can be said for this statement: “Do not trade money until you are fully confident in your strategy”. Since “fully” cannot be measured it is useless. Consider the list of 6 keys to managing trade psychology which include “have an edge” (what is that exactly?); know thyself (who me?) and avoid emotional mistakes (My, oh my). Putting psychology to the curb, there are defined situations where we are defeated by aberrant choices that we can avoid using math based analysis and historical metrics.
Interesting perspective! While trading psychology can seem abstract, it emphasizes discipline and emotional control. Combining psychological awareness with math-based analysis and historical metrics creates a balanced approach, helping traders avoid emotional mistakes and make data-driven decisions. Both matter!
A wise trader is first and foremost a self-critical trader who does not shift his mistakes and failures onto someone or something, but can admit his mistakes and learn from them to gradually improve his trading.
Its not really human psychology..But rather fighting the super-imposed media psychology, political psychology, Fed and .gov Fake economic numbers psychology..and the HYPE PSYCHOLOGY. I have done best by turning off all News media, Political News, and Tech Hype Headlines... I rely on my gut, my instincts of the price action, the charts and most importantly my risk management. My office has music..not news or TV. I get up from my desk often...stretch, relax, walk. Its getting much easier now.. because we all know most of it is Fake. It was much much harder in the later 1990s and thru the earlier 2000s. If you trade from a country outside of the USA or EU..you have a serious benefit of blocking out all the noise of media psychology. The drama and stress and gossip and the incredible divide in USA. It will ''kill'' your grounded psychology