May 13

Why is Psychology more important than Technique in Trading?


I see this question so often in trading groups and forums, and it always makes me smile because I automatically know 2 things about the writer:

  1. They are not currently successful.
  2. They need my help.

Plainly put, successful traders don’t ask this question because they will have spent more time working on themselves (psychology) than their trading system (technique).

Successful Traders

Successful traders know that psychology is what makes them successful, not technique. When you’ve been given a trading system and have been told that it works, but you can’t get it to work for you. You will find yourself left with two questions:

  1. “Why can’t I trade it?
  2. Why am I not making money with this system?”.

These traders know that Bob the guru (course creator) is making money with it, so it must work, but why can’t they make it work for themselves. And here lies the fork in the road.

At this point, people take one of two paths:

  1. Accept responsibility and look inward to solve the problem (psychology).
  2. Don’t accept responsibility and look outward (closed mind), coming to the conclusion that they have been scammed, which is not solving the problem.

It doesn’t take a rocket scientist to work out which option will lead to success. Psychology is about how you think, feel, and behave in any given situation. If you don’t think straight because your feelings are too strong at a particular point in time, you will tend to act out of emotion rather than logic.

Acting Emotionally causes 99% of all Trading Mistakes

Trading mistakes cost money. To stop trading mistakes, you, therefore, need to change the way you act and feel.

And the only way to do that is by changing your thoughts, which is psychology 101. Changing technique will only do that; you will change your technique… which is what you’re doing if you keep bouncing from new system/strategy to new system/strategy.

But if you change your psychology, you will change your thoughts, which will change your feelings which will then change your actions. Changing your psychology is how you can BEcome a successful trader.

I’ve heard many successful traders quote that it takes 7 years to become successful, and it probably does if you try and do it on your own. Imagine the amount of will power required to spend seven years trying to become successful.

I, on the other hand, offer a 14-week sprint as part of my course that will guide you through the process of having a successful psychology that gives you discipline, patience, and the ability to trade mistake-free.

What you should do right now!

If you are struggling to successfully extract consistent payments from the markets, then I do suggest that you take a look at my “Do It Yourself” Trading Course.

In this course I will personally coach you the necessary technical and psychological skills needed to be a successful Prop Forex Trader and create the life of your dreams, whatever they might be.

Callum McLean

I believe that everyone has the right to be financially free. I founded "Wealth 4 All", an organization that guides people from all walks of life to achieve that goal, either by teaching them how to trade or through passive investments. Connect with me to get started today.

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