I often get questions about trading psychology. Is it an important aspect of the business? I typically get a number of different answers, its 80% mental and 20% skill. It’s 80% skill and 10% mental. I have to agree with the first one. I think most aspects of this business are mental. Can you get back on the horse when you get knocked down. If your down in the morning big are you going to have the mental fortitude to battle back and get positive. Or are you going to curl up in a little ball and cry.
Look at today, choppy all day, if you shut down the computer blaming the market you would have missed the move in the afternoon.
Read Think and grow Rich. It is a great book about positive thinking in life and how to mentally get back in the game.
Have a great and profitable day!!
