{"id":6933,"date":"2013-03-28T05:18:42","date_gmt":"2013-03-28T12:18:42","guid":{"rendered":"http:\/\/www.tradingheroes.com\/?p=6933"},"modified":"2022-08-11T22:21:31","modified_gmt":"2022-08-12T05:21:31","slug":"3-reasons-why-trading-psychology-isnt-sexy-and-why-it-is","status":"publish","type":"post","link":"https:\/\/www.tradingheroes.com\/3-reasons-why-trading-psychology-isnt-sexy-and-why-it-is\/","title":{"rendered":"3 Reasons Why Trading Psychology Isn’t Sexy (and why it is)"},"content":{"rendered":"

Many traders overlook the importance that trading psychology plays in successful trading.\u00a0 They follow all of the rules from a course, but they are never able to trade as well as the person teaching the course and they wonder why.<\/p>\n

More often than not, it is because they have not taken the time to figure out what gremlins are running around in their own head.\u00a0 They blame their system, they blame the broker, they blame their dog.<\/p>\n

If someone sticks with trading long enough, they usually figure out that the key is psychology.\u00a0 But why does it take that long to figure it out?<\/p>\n

Here are three reasons why I believe that trading psychology is not seen as very sexy or important.<\/p>\n

\"Trading<\/p>\n

It's Not As Easy To Quantify As Trade Setups<\/h2>\n

If you teach someone a to enter a trade when the moving averages cross over, then that is pretty damn simple.\u00a0 But helping someone figure out why they chicken out every time those moving averages cross…infinitely more difficult.<\/p>\n

Every person on this earth is unique, with their own psychological makeup and history.\u00a0 Solving that puzzle takes time and work from the trader.\u00a0 Sometimes the trader does not want to solve those issues.<\/p>\n

It's The Hardest Part Of Trading<\/h2>\n

Let's face it, mastering your trading psychology is one of the hardest things in the world.\u00a0 There are very, very deeply rooted forces at work when it comes to money.<\/p>\n

What did your parents teach you about money?\u00a0 Do you think money is bad?\u00a0 Do you think that you don't deserve money?<\/p>\n

As we mentioned above figuring out your psychology isn't as simple as telling you to enter a trade on a moving average crossover.\u00a0 You need to be truthful with yourself and be able to face your fears and natural tendencies.<\/p>\n

Fear, greed and indecision are a bitch.\u00a0 Make your psychology a priority and the rest will come easier.<\/p>\n

There Aren't Nearly As Many Books Written On The Subject<\/h2>\n

Out of curiosity, I did a quick search on Amazon one day.\u00a0 When I searched for “trading psychology” this is what I got:<\/p>\n

\"trading-psychology\"
Trading psychology search<\/figcaption><\/figure>\n

Notice that there are only 1,666 results for books that talk about the psychology of trading.\u00a0 Is that a lot?\u00a0 Let's see…<\/p>\n

Then I did a search for “trading systems” and here is a screenshot of the results:<\/p>\n

\"trading-systems\"
Trading systems search<\/figcaption><\/figure>\n

Since there are about 17.8 times the number of books dealing with trading systems, there isn't nearly the same mass of material out there about mastering what is between your ears.\u00a0 If there were more books out there, people may pay more attention to psychology.<\/p>\n

…or not.\u00a0 The reality of it is that if people don't buy trading psychology books<\/a>, then publishers won't want to publish them.\u00a0 It just becomes one big negative feedback loop.<\/p>\n

But the fact still remains, since there isn't a ton of material out there on it and therefore it doesn't seem as attractive.<\/p>\n

Why Trading Psychology Is<\/em> Sexy<\/h2>\n

I actually got into trading because of the psychology.\u00a0 I found it extremely fascinating to learn about how people act in herds and why I do the things I do.<\/p>\n

And if nothing else, making money trading is very sexy.\u00a0 If psychology leads to successful trading, then it is sexy by association.<\/p>\n

What have you done to overcome your negative trading psychology?\u00a0 Let me know in the comments below…<\/p>\n

 <\/p>\n

###<\/p>\n

Photo:\u00a0 h.koppdelaney<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Many traders overlook the importance that trading psychology plays in successful trading.\u00a0 They follow all of the rules … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":2022,"featured_media":12754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725],"tags":[201652],"class_list":["post-6933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-psychology","tag-mental-awareness","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"\n3 Reasons Why Trading Psychology Isn't Sexy (and why it is) - Trading Heroes<\/title>\n<meta name=\"description\" content=\"Why isn't trading psychology given as much credit as it should? 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