Psychology

FrancV posted:
Do you agree that trading is 90% psychology and 10% technical?

FrancV posted:
Do you agree that trading is 90% psychology and 10% technical?

DustinG posted:

FrancV posted:
Do you agree that trading is 90% psychology and 10% technical?

Yes I do agree it is is 90% psychology

MetalWing posted:
I disagree with the idea that trading is 90% psychology and 10% technical. While psychology is crucial, it’s not the sole factor. Trading requires a balance of strategy and risk management. A solid strategy, backed by technical analysis, is key to making informed decisions. Risk management ensures capital protection and long-term success. It’s more accurate to say that trading is 50% psychology, 20% risk management, 20% strategy, and 10% luck. A strong mindset, good strategy, and effective risk management are what drive consistent success.

Daniel424 posted:
Yes, I also agree that trading is largely about psychology. While technical analysis is important, it's the ability to manage emotions, stick to a plan, and maintain discipline that truly determines success in trading.

ChelseaR posted:

Daniel424 posted:
Yes, I also agree that trading is largely about psychology. While technical analysis is important, it's the ability to manage emotions, stick to a plan, and maintain discipline that truly determines success in trading.

Basically this. Without the right mindset, even the best of strategies don’t work out. A trader should stay disciplined, stick to the plan, and contain emotions (during losses). Apart from technicality, trading is also about the mental game.

TradeWizards posted:

FrancV posted:
Do you agree that trading is 90% psychology and 10% technical?

You are correct to some extent.
But there are many ways to control and ignore this:
1- Create emotional and psychological control conditions.
2- Test and practice a lot for mastery and confidence until fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- Use signals and experts.

If you can't find a way to control your emotions when trading, you are doomed to failure in the long run.
I personally recommend ways 3 and 4.
Visit my profile to see the results.

FrancV posted:
Do you agree that trading is 90% psychology and 10% technical?

Brenda13 posted:
Yeah, I totally agree. I’ve feel trading is mostly about the mindset. I have all the technical knowledge, but if I can’t control my emotions, it will be hard to stay consistent. I’ve caught myself making impulsive moves when I let fear or greed take over. I think the technical stuff is like the tools, but the psychology is what really makes or breaks it for me.

TradeWizards posted:

Brenda13 posted:
Yeah, I totally agree. I’ve feel trading is mostly about the mindset. I have all the technical knowledge, but if I can’t control my emotions, it will be hard to stay consistent. I’ve caught myself making impulsive moves when I let fear or greed take over. I think the technical stuff is like the tools, but the psychology is what really makes or breaks it for me.

You're absolutely right.

But there are tools to manage and control emotions, such as:

1- Expert Advisors that just execute the strategy without emotion and have no human error, they just need to be chosen correctly

2- Risk management panels that prevent you from taking positions beyond your financial means

steve_25 posted:
Yes, psychology is often said to be 90% of trading, with emotions like discipline and fear influencing decisions more than technicals. But technical skills are still key for identifying opportunities. It’s all about balancing both.