Friday, February 25, 2011

psychological development - next level of trading (words from masters)

"Eventually, you will be able to take your psychological development to the next level of trading:

you will recognize when others are making the mistakes you used to make.

You will see markets acting on fear and greed

and you'll be able to take the other side of those reactive trades.

You'll observe when market sentiment is tilted one way

and price can no longer sustain its trend.

Developing yourself psychologically doesn't mean that you'll be free of emotion;

it means that you will become increasingly competent

at using your feelings as useful trading information."

- Dr. Brett Steenbarger (Author of the Psychology of Trading)

No comments: