From: zentrader.ca | trend analysis
The following is a book review by Stephen Burns, who is a trend follower that specializes in the Darvas System.
The Psychology of Trading: Tools and Techniques for Minding the Markets
Author Brett Steenbarger has done a great job with this book. He covers what I personally believe is the most important element in trading: psychology.
New traders will probably not last through their first year in the markets without blowing up their accounts by taking losses too personally. Many times draw downs cause traders to start gambling when they become desperate to recover their losses. Many times increasing position size when they should be decreasing it is an ego-driven desperation to get back their losses. Other similar bad mental behaviors creep into our trading careers as dysfunctions in our personal lives?
See the original article ?
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