5 Trading Psychology Myths That Can Hurt You

You’ll fight many battles on your trading journey ... But one of the biggest you may face is you against yourself. You need a healthy trading psychology. That means avoiding the dangerous noise out there. Tune in as Tim Bohen breaks down five trading psychology myths and how to trade smarter.



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Before we dig in, Bohen has a great recommendation for a trading psychology book. Be sure to tune in to learn more!

The first myth on our list is to be positive and believe in your ideas and conviction. Let’s say one of your trades goes south ... Just because you had a plan and did your homework does not mean you should stay convicted. You can be more bullheaded with blue chips like Apple or Amazon…

But if you’re trying to grow your account, you’re probably trading penny stocks. Remember, these stocks fail! Have your plan but keep your eyes wide open. These are trading vehicles, not investments.

The next myth is about taking a break. For traders, there’s no such thing as time off. If you need a short-term break, that’s OK! Go for a walk, out to lunch, or hit the gym. While there can be plenty of off time, if you want to learn this niche, you need to maximize your time and GRIND.

The third myth on the list is discipline. Now, how could this be a myth?

You could have the discipline to sit in front of your computer all day, but that doesn’t mean you’ll learn the knowledge you need to progress. Make sure you’re disciplined in the right ways. Run the right scans and keep working to interpret the news and filings.

Trading is stressful! There is no such thing as a perfect life. You can do all the right things, but there will always be something wrong or off.

Do whatever you can to minimize your stress but know it will always be there. Recognize this and have a sense of urgency. With no sense of urgency, no goal, no driving fire, trading will be incredibly difficult.

Tune into the video for the last myth. It’s important for every trader, so don’t miss it!


#StockMarket #Trading #Stocks
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.

You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.

[Stockstotrade]

Have any of these trading psychology myths tripped you up? Which ones? Let us know in the comments!

[gkrglr]

Thank you for your being so direct... :)

[mattschroeder]

Cheers Tim! I appreciate the balance, skepticism, etc.

[conman]

Thanks Coach! I'm well on my way thanks to your videos ...

[arysdaniel]

Really good stuff, specially the no day off part. Last monday had a good trade and took the rest of the day off. Missed the best swing of this month yet just b/c of that. No day off my friend.

[ernestozavala]

Love the vid! But quick question not relating to this but If I can’t afford stockstotrade is there another platform you’d recommend

[fredrickbrown]

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