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The importance of psychology in trading

Psychology!How much really is important for trading?With one word : very!Not only it affects all our decisions and mood but it could lead us to extreme situations.The reason I am writing this article today is because it is my nominal celebration and one of great celebrations for Christians who are Orthodox like me.So as I went early in the morning to the church a lady who knows me as she was a long time ago one of my family tenants gave me unexpectadly a rose!A move so sincere and kind that surely made my day a whole lot happier!Will I trade today?Probably not because I cannot get concentrated due to phone calls.But do I feel inside me ready from all aspects to trade?Did I say all aspects?What are those?At least the most important ones.Lets make a list :1.I do not feel sad,upset,angry,furious,anxious,dissapointed with any issue of my life.2.I do not have to rush anything because I have a stict plan and I follow it so if no trade comes up no trade.3.I am concerned with a topic that could cause me either overjoy or instantly a hunch and will make a wrong trade,a silly one.4.I do not feel pain or are sick from whatever reason5.I do not have to prove anything!Not to myself not to my family,friends.Trading is not about self-esteem or pride,it is about making sound decisions that have great probabilities of making money.6.I have a written goal to accomplish,a small or large payment to make and expenses that require immediate cash.I feel like being haunted by my potential debt and need to repay it as soon as possible.7.My mind is not focused lately.I deal with a lot of things and have many priorities which cause me to be nervous and have plenty of stress.The list is endless.But our life unfortunately and time is limited.And precious.We all need a balanced life.The key to success is to try to be happy and live each day and moment.If we are happy we can accomplish a plethora of things.At the end it is all about our emotions.Remember the old song " Don't worry,be happy "?Sure hapiness is a powerful thing.And a great igredient to our balanced life.So if we are to trade we must feel confindent that we are in a mood to do so.If not we would better stay out of the markets as long as it takes.Patience is a virtue.I wish I had this German car that has a flower vase so each day I could put a different flower to make my day more beautiful and happy.Small things that we often neglect but are precious.Have the nice state of mind and soul and with the appropriate psychology it could do wonders for your trading results.Now,tomorrow,forever.

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posted by Stavros Georgiadis @ 2:20 PM