Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

War Profits
Revealing a Potential 33x
Opportunity in Defence




**Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
**By submitting your email address, you also sign up for Profit Hunter, a Free-for-life newsletter from Equitymaster,
which offers the most profitable investing ideas in India.


AD

Trading Psychology

This is a critical aspect of trading in the markets...it's about having the right trading mindset.

Professional traders out there know that having the right mindset while trading makes all the difference between making profits or losses.

Even if you have the best trading strategy with you, it won't do any good unless you're mentally prepared to stick to the same plan.

We have a profound respect for traders because they are not just traders rather warriors. Traders in the market fight, ideate, survive, thrive, win, lose with the ideas they generate to put food on the table.

For this, a trader's brain is their primary tool.

To master trading psychology, here are some trading psychology books to get started.

  • Trading in the Zone by Mark Douglas
  • The Disciplined Trader by Mark Douglas
  • Mastering Trading Psychology by Andrew Aziz
  • You, Me, and Trading: A Conventional Guide on the Psychology of Trading by Prashant Shah
  • Trading Psychology 2.0 by Brett Steenbarger

These books will help you in:

  • Improving mental discipline
  • Controlling your impulsive decisions
  • Avoiding the common mistakes, a trader makes

Keep in mind that as a trader, your most important tool is your mind rather than any trading tool.

Your brain is the primary tool and technical analysis alone won't do.

Here's what India's #1 trader Vijay Bhambwani has to say when it comes to trading psychology:

As the old saying goes... It's not the swiftest to whom goes the race. It's not the strongest to whom goes the war, but time and chance catches up with us all.

As traders, no matter how long a winning streak you have, at some point in time, you will always encounter loss and how you handle that loss, how you behave after the loss or during the loss, and how you try to fight back or to give up, being either bulimic, eating or by simply starving yourself, will determine what kind of a personality attributes you have and whether you are suited to big ticket trading on not.

And the best part about behavioural attributes is that a timid person can become strong, an angry person can become cool headed.


7 Common Traits that can Affect Investor Behaviour

Jun 23, 2022

Investors frequently fall prey to their behavioural traits that influence their investment decisions.

The One Thing on Which We Will Never Compromise

Jun 24, 2021

Why you should immediately sell the junk stocks in your portfolio.

Millionaire Trader Mindset

Sep 15, 2021

Trading is a psychological effort more than a physical one. The right trading mindset is a must.