{"id":1019453,"date":"2020-04-04T18:39:53","date_gmt":"2020-04-05T01:39:53","guid":{"rendered":"https:\/\/www.tradingheroes.com\/?page_id=1019453"},"modified":"2024-12-28T00:22:54","modified_gmt":"2024-12-28T07:22:54","slug":"trading-psychology-success","status":"publish","type":"page","link":"https:\/\/www.tradingheroes.com\/free-forex-trading-course\/trading-psychology-success\/","title":{"rendered":"Chapter 8: Develop the Psychology of a Successful Trader"},"content":{"rendered":"<h3 style=\"text-align: center;\">Share This Course: [addtoany]<\/h3>\n<p>&nbsp;<\/p>\n<p><strong>Trading psychology is about 90% of success in trading.<\/strong><\/p>\n<p>Most beginners believe that success in trading depends on the strategy alone. If you believe that right now, then\u00a0all I ask is that you consider that your psychology may have something to do with your success.<\/p>\n<h2>Psychology Controls&#8230;<\/h2>\n<p>Here are a few things that are controlled by your psychology:<\/p>\n<ul>\n<li>Fear of failure<\/li>\n<li>Fear of success<\/li>\n<li>Your belief that you deserve money<\/li>\n<li>How long you will stick with trading until you see success<\/li>\n<li>How much you will practice your trading strategies<\/li>\n<li>Your mindset after a losing trade<\/li>\n<\/ul>\n<p>&#8230;and the list goes on and on.<\/p>\n<p><strong>Ultimately, your mindset will determine if you are able to stick with trading until you are successful, or if you quit.\u00a0\u00a0<\/strong><\/p>\n<h2>It's Not Your Fault<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019472\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/trader-frustrated-.jpg\" alt=\"Frustrated trader\" width=\"1200\" height=\"600\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/trader-frustrated-.jpg 1200w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/trader-frustrated--768x384.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><strong>There can be elements in your psychology that are affecting your trading to a larger degree than you think.<\/strong><\/p>\n<p>For example, a childhood event that you currently see at no big deal, may have had more of a negative impact on you than you thought. You may have been repressing that emotion for so long that you don't realize that it's having an effect on you.<\/p>\n<p>But it might be.<\/p>\n<p>Therefore, it's not your fault that there are elements in your psychology that are affecting you. So don't beat yourself up about it.<\/p>\n<p><strong>But it is your responsibility to fix it&#8230;if you want to be a successful trader. Start exploring your psychology and why you act the way you do.\u00a0<\/strong><\/p>\n<p>Trading Psychology is a deep topic and everyone will have different issues to work through. So it's impossible to have a complete list of issues and solutions on this page.<\/p>\n<p>My goals here are to:<\/p>\n<ul>\n<li>Simply alert you to the fact that your psychology affects your trading more than you're probably aware of<\/li>\n<li>Open your mind to that fact that your limiting psychological beliefs may be caused by things that you are not aware of<\/li>\n<\/ul>\n<p>So the best thing that I can suggest is to pay more attention to your emotions in different situations and ask yourself where that belief or emotion might be coming from. What could be the <em>real<\/em> source?<\/p>\n<p><strong>When you can figure out the source of your undesirable actions, you are one step closer to resolving the cause and fixing the result once and for all.\u00a0<\/strong><\/p>\n<p>If you want to get started with upgrading your trading psychology, read <a href=\"https:\/\/www.tradingheroes.com\/category\/trading-psychology\/\" target=\"_blank\" rel=\"noopener\">these blog posts<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\">Yeah Baby!<\/h2>\n<p style=\"text-align: center;\">You're on a roll, keep going. Now you'll learn how to find a broker&#8230;<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/www.tradingheroes.com\/free-forex-trading-course\/how-to-choose-the-right-forex-broker\/\" class=\"su-button su-button-style-3d\" style=\"color:#FFFFFF;background-color:#ffa035;border-color:#cc802b;border-radius:5px\" target=\"_self\"><span style=\"color:#FFFFFF;padding:0px 40px;font-size:29px;line-height:58px;border-color:#ffbd72;border-radius:5px;text-shadow:none\"> Go to Chapter 9<\/span><\/a><\/div>\n<p>&nbsp;<\/p>\n<div align=\"center\">\n<h3 style=\"text-align: center;\">Share This Course: [addtoany]<\/h3>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trading psychology plays a huge role in your trading success. But most new traders don&#8217;t give it the attention that it deserves. Learn how to get started here. <\/p>\n","protected":false},"author":1,"featured_media":1019472,"parent":12916,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1019453","page","type-page","status-publish","has-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chapter 8: Develop the Psychology of a Successful Trader - Trading Heroes<\/title>\n<meta name=\"description\" content=\"Successful trading is 90% psychology. Most traders don&#039;t undertand this and that&#039;s why they fail. 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