Trading Psychology - Becoming A Better Trader
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@tom-david said in Trading Psychology - Becoming A Better Trader:
So today is my day off work but I always come in on a Monday and get myself set up in the office for a days trading without any distractions.
However there isn't really anything that I'd trade today using my morning selections so what do I do?
Previously I would think to myself, of course there is stuff to trade, what about horse racing, there is always horse racing, and loads of them too! So I'd set myself up at the desk, pull up bet angel and load the races for the day and just bum about until about 10 minutes before the first race.
Scalping has always been a big interest to me, in principal it is so easy but it moves so fast and with an impulsive personality it can be very difficult to stop yourself from jumping into a scalp at the wrong time. Match this with a difficulty in accepting a scalp is going against you and you've got a recipe for disaster.
In recents weeks I've decided to take a break from scalping, it's so fast paced that I can't help but get carried away and enter at the wrong time, I really need to work on a few areas of my mindset before I return to scalping.
So today instead of jumping from race to race losing money I have decided not to trade at all today, this is a first for me, I have never ever done this so it is a personal goal for me to go the full day without placing a single trade.
Instead of trading I am going to spend the day listening to a few psychology podcasts and reading up on self discipline.
A day not making any money is better than a day losing it!
You can take the Adult ADHD Test.....
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So today is my day off work but I always come in on a Monday and get myself set up in the office for a days trading without any distractions.
However there isn't really anything that I'd trade today using my morning selections so what do I do?
Previously I would think to myself, of course there is stuff to trade, what about horse racing, there is always horse racing, and loads of them too! So I'd set myself up at the desk, pull up bet angel and load the races for the day and just bum about until about 10 minutes before the first race.
Scalping has always been a big interest to me, in principal it is so easy but it moves so fast and with an impulsive personality it can be very difficult to stop yourself from jumping into a scalp at the wrong time. Match this with a difficulty in accepting a scalp is going against you and you've got a recipe for disaster.
In recents weeks I've decided to take a break from scalping, it's so fast paced that I can't help but get carried away and enter at the wrong time, I really need to work on a few areas of my mindset before I return to scalping.
So today instead of jumping from race to race losing money I have decided not to trade at all today, this is a first for me, I have never ever done this so it is a personal goal for me to go the full day without placing a single trade.
Instead of trading I am going to spend the day listening to a few psychology podcasts and reading up on self discipline.
A day not making any money is better than a day losing it!
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@tom-david Added this to my reading list, looking forward to reading it.
