The Fallacy of #Study by @DGTrading101

The Fallacy of #Study by @DGTrading101

"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. AVtrades

    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. Juan De La Torre

    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

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