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Containing fear and greed are key to being an effective Investor
An excellent training about Finance
Trading Psychology: Why the Mind Matters in Making Money
In financial markets dominated by vast mounts of data, sophisticated analytical programs and quantitative strategies, concerns about the psychological aspect of trading may seem quaint. However, in reality an understanding of trading psychology has never been more important. It is precisely when we forget to question our motivations and emotional state that we become vulnerable to poor decision-making. While the digitization of trading may have transformed many aspects of the profession, little has changed in the realm of trading psychology. The old lessons learned the hard way over decades of experience are still as applicable today as they were when they were first learned. This lesson will elaborate on the different areas of trading psychology and how to trade and invest in an effective way in the stock market. In this guide we will briefly examine the four strongest emotions in trading psychology: FOMOFearGreedHopeThen we will look at what traders can do to master their emotions and ensure that they are making clear and informed decisions every time. The fear of missing out usually occurs when a stock is a making a big move and you missed it. This can lead to chasing an entry which is never a good trading decision because you will end up with a poor entry price and as you are caught up in the though of missing out you forget to manage your trade and risk. The fear of missing out is driven by a desire to be a part of a good thing, even when all signs suggest that it is not a wise investment.
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