Post
Topic
Board Trading Discussion
Re: Things that influence our trading decisions
by
doomloop
on 16/07/2023, 15:36:15 UTC
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.
Having knowledge with different indicators is I think better but there is more to it to make trading a success. There must be some thing that makes your trade complicated and I don't think it's about the indicator that you use because you said you already learned many of them.

The two indicator that you use are popular and I always hear them but if we think combining indicators can help us better then why not? We only need to experiment what work better for us. Emotions are one of the factors involved in trading. It can make or break you but I think 90 percent of them is already too much. Like I said earlier there are more things involved in trading.