The Fallacy of #Study by @DGTrading101

by | Jan 24, 2018

"The Fallacy of #Study" - the latest in The Mind of a Day Trader series by Dante.

Key Takeaways

  • The beginning of your trading journey is filled with ups and downs.
  • Your motivation will be challenged. Just when you think you've "figured it out," a new challenge will arise.
  • Try to eliminate the extreme highs and lows of day trading. Avoid the emotional volatility of thinking you've mastered trading or your trading is hopeless.
  • The harder you try to shorten your path to trading success, the harder trading will become. Learning how to trade is a slow process.
  • Find balance. "Cramming" doesn't work - your brain can only process a certain amount of information.
  • You can be your own worst enemy. Focus on your own psychology and behaviors vs. staring at charts for hours. A stable mental foundation comes before everything else.
  • Become more fluid with your trading. Markets and individual stocks are always changing - every scenario is different. Don't overanalyze historical charts and data.
  • Trading "practice" and "application" are very different. No amount of studying and paper trading will provide the same insight as real trading.

2 Comments

  1. Would you recommend trading with very small size, to the point where even a 15% gain would be a break even after commission fees.

    Reply
  2. Very good article about trading psychology. Certainly psychology is extremely important. A winning strategy without adequate trading mental fortitude will not work. Good video too.

    Reply

Submit a Comment

Your email address will not be published.

Related Content

24-Year Old Makes $10 Million Day Trading - Interview w/Jack Kellogg

24-Year Old Makes $10 Million Day Trading - Interview w/Jack Kellogg

https://www.youtube.com/watch?v=TFKFDRaR6NA Video Topics Jack's Trading History OTC Penny Stock Trading How to Research OTC Stocks Short Selling OTCs and Penny Stocks Jack's A+ Trade Setups How to Manage Your Positions Penny Stock Traps to Avoid Evolving from OTCs to...

15 Trade Management Tips to Improve Your Trading

15 Trade Management Tips to Improve Your Trading

Trade management is an important part of the trading process. It's not enough to have an effective strategy - you also need to execute that strategy properly. Think of this distinction as the difference between creating a well-rounded business plan and actually...

Video Interview With Cody (@OddStockTrader)

Video Interview With Cody (@OddStockTrader)

https://www.youtube.com/watch?v=qDEweD72zow Topics Discussed Cody's Trading History Transitioning from Online Poker to Online Trading OTC Stock Trading (The Appeal + How it Differs from Momentum Trading) Cryptocurrencies and NFTs Cryptos vs. Stocks How to Identify Hot...

How to Find Your Niche as a Trader

How to Find Your Niche as a Trader

https://www.youtube.com/watch?v=PdDdxeJlk7w Topics Discussed The Importance of Finding Your Niche The Components of a Trading Niche How New Traders Can Find Their Niche Nate's Niche How Other Traders Can Help You Shape Your Niche Analyzing Your Trades to Figure Out...