Quote from: Bravut on June 11, 2024, 01:13:24 PM

Quote from: Asiska02 on June 10, 2024, 03:52:26 PM

Quote from: Bravut on February 13, 2024, 09:02:21 AM

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not having the right approach and risk management, fundamentals...that affect your trades

In my not too little engagement in trading, I have realized that your psychology plays the biggest role of you being a successful trader or not. All the fundamental and technical analysis including risk management does not take more than 20% of you being successful in trading. Trading is actually vigorous and will take you a long time to be a profitable one. But the bigger picture lies on you being able to handle your psychology.

I have had experience about it before and those alike have also said the same about trading. You will most time do your fundamental and Technical analysis and also employ proper risk management but your inability to control your psychology (emotions) will make you not to trust that analysis and you end up leaving the trade too early at loss or not even enter the trade at all and regret why you never did when it goes your way. Psychology is important in trading and if you’ve find a way to handle it, you’re 80% success rate of being a profitable trader.

Do you imply that Psychology is the key in Trading and not necessarily TA; I disagree. TA is more than 20% when it comes to Trading.
Am not saying Psychology is not vital, but Psychology is a crap when you do not have a good Technical edge, the Technical edge is what builds you, gives one the confidence, and also boost your win rate because you already know what you should and should not in a Market, the reason many Traders fail is because they blame psychology whereas they are the problem from there strategy, approach risk management all sucks. .

To be well organized as a sophisticated trader both technical analysis and psychology are in-part very important in leading to a successful win on any trade. You don't rely so much on one and overlook the other, in fact they both work in synergy to put the trader in the right direction with his strategy entering the market.

A trader can have a great T.A about the market and gets in but ends up losing that trade due to a lack of a strong psychology on his part when the market throws a fake out at him. You have to be prepared for the two because that's what it takes to win.