Do you really want to succeed? Psychology is the Key!

published on: September 2nd, 2022

Do you really want to succeed? Psychology is the Key!

“You can succeed in trading only if you handle it as a serious intellectual pursuit. Emotional trading is lethal. To help ensure success, practice defensive money management. A good trader watches his capital as carefully as a professional scuba diver watches his air supply” – Dr. Alexander Elder

How did you feel the last time you placed an order? Were you anxious to jump in or afraid of losing? Did you procrastinate before entering your order? When you closed the trade, did you feel elated or humiliated? Don’t fear, you’re not alone. Your feelings along with the feelings of millions of other traders, merge into huge psychological tides that move the market.

The majority of traders spend most of their time looking for good trades. Once they enter a trade, they don’t manage it but either squirm from pain or grin from pleasure. They ride an emotional roller coaster and miss the essential element of winning – the management of their emotions. Their inability to manage themselves can lead to poor risk management and losses.

All winning professionals know the enormous importance of psychology. Most losing amateurs ignore it.

To win in the markets, we need to master three essential components of trading: sound psychology, a logical trading system, and an effective risk management plan. These are like three legs of a stool – remove one and the stool will fall.

It is a typical beginner mistake to focus exclusively on indicators and trading systems. You have to analyse your feelings as you trade to make sure that your decisions are sound. Your trades must be based on clearly defined rules. You have to structure your money management so that no string of losses can kick you out of the game. The market is unforgiving, and emotional trading always results in losses.

Introducing The BitcoinTAF EmotionsDetector 

The BitcoinTAF EmotionsDetector will identify your emotions, core motivation, blind spots, triggers, and weaknesses and provide you with management exercises for your Personal Development and Emotional Management.

Do you perhaps suffer from self-sabotage due to mental baggage from childhood preventing you from succeeding in the markets? Have you identified the emotions that stand between you and successful trading?

Your success or failure as a trader depends on your emotions. You may have a brilliant trading system, but if you feel arrogant, frightened, or upset, your account is sure to suffer. If you become aware of fear, greed, or a gambler’s high, and don’t know how to manage it, you may close your trades too early. Profits give traders an emotional high and a feeling of power. They try to get high again, put on reckless trades, and give back their profits. Most traders cannot stand the pain of sever losses. They die as traders after hitting rock bottom and wash out of the market. The few survivors realize that the main trouble is not with their methods – it is with their thinking. They can change and become successful Traders.

A trader needs a psychological safety net the way a mountain climber needs his survival gear – Let the EmotionsDetector become this for you and find out how to commit to your own Emotional Management and Development Strategy and start your journey to better profits.

If you are serious in becoming a successful Trader and want to know more, please register for the Official Launch of The BitcoinTAF EmotionsDetector on 5 September, 12:00 UTC.

Details for the Official Launch of The BitcoinTAF EmotionsDetector on 5 September, 12:00 UTC.

South Africa: 14:00

UK: 13:00

New York: 08:00

Perth: 20:00

Brisbane: 22:00

Lagos: 13:00

Mexico City: 07:00

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The EmotionsDetector Team 

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