psychology
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.
psychology literally the tool that the whales use to profit like they are taking advantage of sudden artificial dump to accumulate, and sudden flash pump to make people fomo into giving out their moeny for free to harvest for these whale.
you see the chart of most of coins its full of psychology play, sometime there's dead cat bounce to attract people by taking advantage of their psychology into thinking that the bottom is here but actually thats not true and price further tank and the people that long are the ones getting liquidated, free money for the whales.
pretty much everything in this world just revolve around psychology so trading is not an exception the TA is just a bonus factor to know that something maybe is happening but you can never guess whats truly happening since TA quite literally just trying to make sense of the chart even though it never make sense in the first place but it sort of tool for people to give themselves guideline.
the people that don't believe in psywar int rading are the people that just don't know what they're doing and should know that the TA sometime inaccurate because the entire market chart is more than just some TA.