What Time Does The After Hours Stock Market Close Today Stock Trading Psychology

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Stock Trading Psychology

The trading psychologies of investors vary. The perspective of each investor is different. You are attached emotionally and rationally to each trade. But should the emotions rule over your trading psychology? Emotions can never be a good guide in trading. Better leave its company once for all and you will avoid pitfalls. In your emotional state the probability of your taking wrong decisions that will lead you losses, are high.

Keep the emotions in check and invest based on your plans by analyzing the share and the market rationally. Your disturbed mind will not allow you to take healthy decisions on proven strategies. Unless you have a pre-decided strategy, you can’t follow it. Base your entries and exits on a written strategy and let that statement be in front of you. If you have a strategy you need to apply it to get consistent results.

Emotions, when you are dealing in stocks, can not be categorized as a positive quality of the investor. Euphoria leads to bad decisions. When you are in an emotional state, take a break. If you are in the exchange, walk out; if you are in front of the computer screen, switch it off and restart it when you revert to your normal state. No perfect decisions are ever possible being emotional. You compromise somewhere to reach the edge of losses and soon you will find you are in deep trouble. Strategy is a trustworthy companion-do not part with it.

You need to be a good student of investment related issues and at the same time you must be a good psychologist, while trading. Understand your personality traits and do a bit of internal digging and introspection about your performance in the exchange everyday. List out the mistakes commixed by you and analyze the shortcomings, so that you never repeat them in future.

Read the popular books on the investment psychology. As you go through them you will find what the common traits that successful traders are endowed with. What is the process of their achieving the status of market wizards? The suggested book is “Market Wizards; Interviews with Top Traders,” by Van Tharp. By reading this book you will come to know what works to become a good trader. The contents of the book are nothing but the condensed experience of several traders. This man was a trained psychologist and therefore, he knows how to record the observations and experiences of the traders. The experiences of such successful traders can turn out to be your theory of trade!

He writes, “I designed the test to predict who could win and who couldn’t. Now, I believe that anyone can win if they are committed to do so. Primarily, it’s just a matter of learning how.”

The end objective of trading psychology is risk and stress control. You need to make profits and at the same time your objective is not to settle the bills of the medical practitioners from the profits you made. Follow the mantra “cut your losses short and let your profits run” in letter and spirit. The mistake is not in the market conditions, it is in your not following the rules.

A successful trader will not compromise on the basic rules of the game, will stick to his strategies, does not allow the emotions rules over him, and therefore he wins the game even before it starts. He is not afraid of the losses and will not take a grim view of them; he has the mental stamina to confront losses and win over the situation. As he sticks to the rules, he has the inherent capacity to surmount a difficult situation.

Take your losses comfortably. Any experienced broker will tell you the same. But that is not the end of the story. Market was never predicable and it will never be. The strength of a good investor is converting loss-situations into profitable ones.

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