TRADER’S PSYCHOLOGY

TRADER PSYCHOLOGY
Money invented by human,so it acts like a human. Since money is bought and sold by people, the behavior of money is actually a reflection of people's behavior.

**Why do people make mistakes? **

1. Ambition
2. Greed
3. İndiscipline
4. Not accepting to lose
5. I know everything (THE MOST DANGEROUS ONE)

The first four of these can be controlled in some way, but if there is the fifth it will lead to bankruptcy. Those who say that they know everything;

• When they talk about something, they look like they're not listening.
• If somebody goes into a discussion with him, all he can do is shout.
• They want to identify the issues themselves because they can't afford to answer questions which they do not know.
• Finally, if your knowledge is crushing it, they will mock and draw attention to themselves.

When it comes to financial markets, whoever says what will happen in 10 minutes, know that he is lying!
Nobody knows this. However, people who are knowledgeable in financial matters make a more accurate decision than other. The correct positioning rates of the most successful traders in the world are around 50%. It means that 50% is opening the right transaction,50% is opening the wrong transaction.So how do they win? The answer is simple, successful traders have systems, and when they lose, they do little damage.When they make profit, they make more profit.

Sine Qua Non of Trading Safely

1. System
2. Money Management
3. Time Management

What is the System?
They are methods to get a result. Is there an error-free system?
No.
So what should you do?
Build your system and try it over and over again.
Determine which instruments this system is more suitable for. (Each pair has different character. For example, USD/CHF moves slowly. AUD/USD moves balanced. Suitable for beginner traders. GBP/USD acts aggressively.)
Trust your system, if you do not trust your system, you will interfere with your system at some point and go out of the system. Since everything is ready, start making mistakes, but don't repeat the same mistake.

Money Management
Entering a transaction with your whole money results in a frustration, you will definitely sink. It is absolutely necessary to do gradual processing. In other words, make a plan as I enter the transaction by 10% of my money by accepting the possibility of 1% loss and by targetting profit of 3% and stick to the plan.
Don't be afraid of having stop order, capital is not ending with being a “stop.”
You don't have to trade constantly. The more trades, the less gain.

Time Management
Do not throw your family, health and social environment aside with the ambition that you will make money, act balanced.
There are many sources about trader psychology. We just wanted to emphasize the importance of the subject. You should definitely research the details or even take a course. This subject is so important. If you cannot control your psychology, you will definitely lose it.
Take care of yourselves:)