Trading is 95% mental, manage emotions and trader psychology
The Only Magic in Trading: Humility and Common Sense
There is a big difference between being right and making money. Trading success isn't necessarily determined by strategy, entry and exit points, or time frames; the true line in the sand drawn between winners and losers is determined by the ability to manage trading emotions. There are steps that can be taken to mitigate the impact of emotion on a trading plan; including the purchase of cheap weekly options to act as a backstop against runaway day trades and approaching the market with realistic expectations. Join Carley Garner, an experienced futures and options broker with DeCarley Trading, to discuss creative ways to mitigate tail risk in day trading using options, and in turn improve emotional stability in trading. Talking points will include:
- Steps to keeping a clear mind and proper psychological preparation for trading.
- Buying cheap insurance policies against trades on awry.
- Examples of panic-driven trading and tips to avoid being a victim.
- The most important quality of a successful trader.