Re: Things that influence our trading decisions

~snip~
However, due to previous losses, we can become emotional, which complicates our trading. This is a hurdle to our trading strategy, and if we are not conscious, we will become victims of our own emotions. As you stated, greed is a result of emotion, most notably consistent losses. To be good traders, we must understand how to manage our emotions.

^This is definitely right and I agree with this.
Being successful traders means having a deep understanding of how to control our emotions rather than letting them control us. By developing emotional discipline and staying committed to our trading plan, we can overcome the negative impact of emotions and have successful trading decisions. Remember, managing emotions is an ongoing process that requires self-awareness and practice. Through discipline, self-reflection, and continuous learning, we can strive to become better traders and improve our overall trading performance.

Many people out there which want to become traders have the mistaken idea that if they want to become traders then they need to master all kind of different indicators and become a master of TA, and while that will help without a doubt, it also very important that people develop some emotional intelligence when they trade, as it is on those critical moments when everything hangs in the balance when the most important outcomes are decided, and if you are an expert on reading charts but you have a low emotional intelligence then you will make a mistake from which it will be almost impossible to recover.

That's what I thought before that you have to learn all the indicators to become a profitable trader. I learned many indicators but instead of making it easy for me to trade, it complicates my trades. If you're going to use an indicator to determine the trend, you can either choose moving averages or Bollinger bands, no need to use both of them in the chart because it's useless.
And yes, emotional stability in trading is very important to be successful and that's why some people says that it's 90% psychology and 10% TA.

I tried TA for several years, but it didn't show its effectiveness. So I don't use moving averages and other TA tools. I am an adherent of fundamental analysis.

Psychology really has a huge impact on trading. There are even special psychologists for traders if you want to improve your morale. But you need to be very careful when choosing them. This is a favorable area for many scammers who pretend to be a real psychologist, so you need to choose very carefully.

I heard someone like you who just trade fundamentally, but because you're not using TA you don't know where is the invalidation and where is the take profit area. In other words, you didn't put stop loss? And take profit when happy? If yes, you're likely using a spot trading because if you trade with leverage, it's so risky. Personally, I trade both TA and FA before but when I observed that the news mostly come when the price accumulate, I decided to focus more in TA.