Day Trading Psychology: 2 Common Mistakes [and how to avoid...]

published 1 month ago by ClayTrader

If you are a beginner in the world of day trading, you must learn just how important psychology is to having success. While you absolutely need to learn how to use day trading tools such as technical charts and Level 2's, there is more that is needed in order to have consistent success in making money online. The human mind can be a crazy place when your hard earned money is at risk, so learning to understand your own psychology is a requirement for success. I've been working with beginner day traders since 2013 and there are two common mistakes I see over and over again when it comes to that person's psychology. I have been day trading stocks online for over 10 years now, and I still struggle with these mind games that arise. Over the years I've learned how to identify these two common psychology mistakes, but more importantly, I've learned how to avoid them. The first step to becoming a profitable online day trader is to be self aware of your psychology. By doing this, you will give yourself the opportunity to fix any problems that may cause you problems.

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