trading psychology

Fear Of Missing Out is a big problem for beginning traders. They look at chart patterns that have already happened and think of how much money they could have made if they had caught the moves therein. The truth is, those moves may or may not have happened if you were in them. 

One of the most profitable assets a trader has is self discipline. It starts with effective money management and protecting your bank but goes well beyond that. Your stops should be small enough to where losing the money will not ruin your day but profits should be good enough to make you feel accomplished. 

Detachment from the money and trusting your charts is paramount in trading. You must learn to shut out the noise and realize that trading algorythms are designed to stop out 90% of traders. Set your stop losses and targets and stick to them. 

The best traders can adapt to a changing market. It imperative that you remain flexible in you trading and accept when you are wrong about a trade. You must develope a "If this, then this" sytem for each trade. 

All of the information in the world is useless if you cannot act on it. If you have done your analysis and know what should happen, take the trade! Don't be left on the sidelines kicking yourself later about missing out on a great trade. 

Never stop learning new things about trading. If you are like many professional traders, you love your job. Something about making money by clicking buttons just "turns you on,." Go with that. That's how you become better at the trade. Keep learning! 

Much like any other profession, being a profitable trader requires work. If you know Technical Analysis and you understand value areas, be confident about your trades.