Psychology is another integral part of trading , one must have a proper control of emotions in order to remain in the trading game and win consistently , in trading anyone can have both winning and losing streaks, one must keep their thought process same inspite of losses or profits , if one has a sound strategy with good risk management then the icing on the cake is the control of the fear and greed inside yourself , its a game of winning over your fears .
Every trade must be approached with the same technique the last trade was approached , you cannot go changing your staregy just because you had a few losing trades , a few losing trades even torment the best of the best traders , but the secret is to hang on instead of changing your strategy every few weeks , no stategy works all the time , there is no holy grail !
Always remember even if you plan your trades with utmost care , apply your risk management still the trade can go against you , it requires only a single huge trader or investor to negate your trading setup easily so always remember anything can happen .
There are some traders who itch for making trades even if their setup hasn’t fully developed , they take such undeveloped trades which later move against traders expectation and later the trader blames the market , always remember the market will always open tomorrow , if you don’t get an opportunity today you might get an opportunity tomorrow, if you take low probability trades today you wont be left with any money to take the perfect trading setup which develops tomorrow , so always wait for the setup to develop , dont jump the gun.
We would be talking about this subject more in the furute articles , so stay tuned .