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9 Advanced Trading Psycology
9 Advanced Trading Psycology
Psychology
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The harsh reality is that the vast majority of all traders lose.
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Sticking to any trading system for any length of time is nearly impossible
only sure shot tips..!
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One step forward winning trades & one step backwards losing trades.feels like your
not making progress
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anxiety
happiness
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fear
guilt
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gradual
acceptance
moving
forward
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This can
DENIAL Change?
What
change?
Yippee!
Finally,
Can I
its
handle
this? working!
Whats the
impact
here? How
will this
A
affect me?
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A
AD
A
A
A
B
A
A only sure shot tips..! Uh-oh
A
A
AC
this is more
A
A
than I bargained
A for!
AE
What was
A
I
Athinking?
HAPPINESS
AF
ANXIETY
FEAR
A
actually work!
And its so
rewarding!
DISILLUSIONMENT
Im outta
here!
This is
SO not
for me!
A
A
G
A
I can see it
now! My
future, that is!
A
AJ
A
A
AK
A
MOVING
FORWARD
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Who
Aam I?
GRADUAL
ACCEPTANCE
A
H
A
THREAT
GUILT
DEPRESSION
HOSTILITY
A
A
M
A
I will make
this work
even if I die
trying!
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The
allow
only markets
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you to
chose between
Self
Fulfillment
Self-Fulfillment
Self
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Destruction
Self-Destruction
and
continuously.
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Lack of work ethic,
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Trading without a trust worthy plan,
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All-In-At-Once methods
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When should you jump
All-In-At-Once?
Scaling In methods
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Scaling
In
Scaling
Out
Scaling
In
Scaling
Out
All-InAtOnce
AllOut-AtOnce
All-InAtOnce
AllOut-AtOnce
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Scaling
In
Scaling
Out
Scaling
In
Scaling
Out
All-InAtOnce
AllOut-AtOnce
All-InAtOnce
AllOut-AtOnce
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Prepare to accept financial risk for something (e.g., the market) over
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This does not imply that regardless of trading tactics, a trader that has
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Keep in mind that a losing trade that is base on some method is NOT a
bad trade
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Because the risk of loss from 'some' percentage of previous trades has
been accepted.
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3. Sideways Topping Action
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Bearish Piercing
Bearish Engulfing
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Major support areas
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Bullish
Bearish
Engulfing
Engulfing
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50%
Bullish
50%
Piercing
Bearish
Piercing
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TARGET
Price
Action
STOP
(1R)
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RISK
(multiple R)
REWARD
ENTRY
ENTRY
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REWARD
(multiple R)
RISK
(1R)
TARGET
STOP
LONG Entry
Up trend
Higher Highs & Higher Lows
Short Entry
Down trend
Lower Highs & Lower Lows
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Price
Action
TARGET
STOP
(1R)
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Profit from
entry
RISK
(multiple R)
1st
REWARD
ENTRY
ENTRY
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REWARD
(multiple R)
RISK
(1R)
STOP
TARGET
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TARGET
Price
Action
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(multiple R)
RISK
STOP
REWARD
RISK
STOP
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REWARD
(multiple R)
TARGET
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Transition Among Phases
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1. Sideways Bottoming Action
Indicator provides
signal
Buy
SOH
Short
SOH
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Down Trend with Lower Highs (LH) and Lower Lows (LL)
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Consolidation
Congestion
Range-Bound
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Usually NOT designed to provide multiple entries as price action is going in your
favorScaling In
Indicators and All-In-At-Once usually lead to very high likelihood of big losses
Additional efforts required to get multiple signals for entries using indicators
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The focus is usually on the big reward of a trade with a big position and
not the big lose if the trade moves in the wrong direction and against
you.
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Most traders cannot stick to a single trading system for extended period of time
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As an active trader, you will get tiredits natural and human nature
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Adopt a Three-Prong-Approach
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Minimize loses in each and every trade as much as possible
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Maximize profits in winning trades
Manage and reduce the amount of paper profits given back from winning
trades
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Typically you dont know its trending price action until you get confirmation with
either
Higher Highs and Higher Lows, or Lower Highs and Lower Lows
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Preserving your trading capital should suggest to you to scale in to trades first
Look for confirmation that the setup is correct and price action is moving in your favor
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Not a lot of profit opportunity available in non trending price action moves
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Non trending price action typical comes with overlapping candlesticks
Only use All-In-At-Once with tight and adequate stops for minimal risk of loses
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All-In-At-Once comes with big profitsalso comes with the unfortunate quality
of big loses
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Scaling In protects you by limiting the initial risk and lose at entry
All-In-At-Once guarantees maximum profit when price action moves in your favor
Not the best characteristics to use to describes your trade execution demeanor
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As price action moves in the right direction,
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you have to have a balanced mindset of
Typically money
management
focus
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Scaling In
All-In-At-Once
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If you are a breakeven trader then there should be select setups where you
scale-in and others where you can jump All-In-At-Once
If you are generating some profits and want to generate more, then be very
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