As all MarketClub members know, psychology is a major factor in both investing and short term trading. Chris Dunn, from the Emini Academy, is a major proponent of developing the proper mental mindset of a professional trader, and this week he’s contributing a helpful post on four steps you can take to have a strong trading mindset.
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In my opinion, day trading is top on the list of mentally stimulating professions. It requires a mental toughness unparalleled by any other business. For example, the influx of emotions and sensations felt by someone in a short-term trade can bring on fear stronger than that of certain death, or a euphoric sensation as if you just inherited a windfall of profits.
To become a professional trader with the ability to thrive in all market conditions, one must develop understanding and control over their personal psychological strengths and weaknesses. In this article, we will talk about 4 steps that can help you develop a strong trading psychology and confidence to become a top-level day trader.
Step 1 – Build a Strong Foundation Continue reading "4 Steps to Mental Toughness for Short Term Traders"
