Lorenzo Daglio - DAY TRADING FOR A LIVING: Four Stage To Becoming a Succesful Trading: 1 trading psychology 2 trading strategy 3 day trade guide 4 how to be in the zone

Trading effectively in the capital markets necessitates a wide range of abilities, which provide skills like analyzing a corporations dynamics and predicting the trajectory of a stocks trend. However, none of these technological abilities nor the traders mentality are as significant. Trading psychology is described as the ability to control emotions, think fast, and maintain discipline.

Trading tends to be a simple process. A novice can carefully come into the market, gain several times, and continue to realize that he or she is genius and unstoppable. Its why he finally takes huge chances and loses a lot of money.

People trade for a variety of motives, some of which are reasonable and others that are unreasonable. Trading gives you the chance to earn a living quickly. Many people see capital as a sign of independence, even though they dont really know what to do about it.

You can set your regular hours, work, and live wherever you choose, and you will never have to listen to a supervisor if you learn how to trade. Trading is a wonderful game that combines chess, poker, and video games. People who like competitions are drawn to trading.

It draws risk-takers and repels risk-averse people. A normal person wakes up, goes to work, takes a lunch break, comes home, has a drink and supper, watches TV, and falls asleep. If he earns a little extra money, he deposits it in a savings account. A dealer works odd hours and places his money on the line. Most traders are hermits who forego the comforts of routine in order to venture into the unknown.

Self-satisfaction

Some people have a natural need to be the perfect version of themselves to maximize their ability. Traders are motivated to test the markets by this push, as well as the fun of the game and the allure of money.

Successful traders are usually hard-working, astute, and receptive to fresh ideas. Surprisingly, the aim of a successful trader is not to generate profit. His ambition is to be a successful trader.

Money comes more like an oddity if he trades correctly. Successful traders need to develop their talents in order to achieve their personal best.

The problem with self-fulfillment is that it might lead to the self-destruction of certain people.

Accident-prone drivers continue to wreck their vehicles, and self-destructive dealers continue to wreck their banks. Markets have many incentives for both self-sabotage and self-fulfillment. Its very costly to act out the interpersonal disputes in the markets.

Traders who are unhappy with themselves always attempt to satisfy their conflicting desires in the markets. Youll end up somewhere you wouldnt want to be if you wouldnt know where youre going.

We try to perform a practical activity here by involving you. There is a table below and you are required to enter all the reasons for yourself that why would you want to trade or why are you into trading business at first place. Write at least minimum five reasons why would you trade.

Youd anticipate a friend with no agricultural background to go starving if he informed you he tried to feed himself with food grown on a quarter-acre (1,000 square meters) estate. You can only get too far out of a little plot of land. However, there is one area in which grown-ups should let their dreams run wild: investing.

A realist is a good dealer. He is well aware of his capabilities and shortcomings. He is aware of industry developments and understands how to react. He studies himself, evaluates the markets without cutting costs, and makes practical preparations. A competent trader cant afford to be deluded.