“I learnt to avoid hope, fear, and greed.” – Jesse Livermore.
Mastering ones emotions is a MUST for trading success
Here are 3 trading psychology tips from Jesse Livermore & how to apply them as a trader:
1/ Discipline is King.
It’s the bridge between goals and achievements.
- Set clear trading rules for entry & exit
- Follow them religiously
- Assess your results regularly
Discipline to follow a proven trading plan, leads to success
2/ Avoid Hope.
It’s a trader’s mirage.
- Trade based on what the charts are showing
- Avoid emotional attachments to your trades
- Be systematic & rational in your decisions
Hope in trading can lead you to blowing up your account
3/ Embrace Failure.
It’s the seed of learning.
- Analyze your losses
- Extract the lessons
- Make adjustments & improve
Learn from your mistakes & that of others.
To learn more about How you can Start Trading for a living, sign up below for my Free Training on the “7-Steps to Financial Freedom through Trading”.
