- Tend to follow the crowd / mass (crowd follower)
- Following what others are doing
- Convenient if the decision together with the crowd
- Avoiding the risk unless other people also took
- Thought if anyone else "buy" it is safe also to "buy"
- Acting on advice from others who are considered "expert"
- Tend to make the complicated process of trading and markets simplicity neglect
- Almost always make the same mistake: buy / sell when the price has moved away significantly (high risk) as well as buy and sell when approaching resistance when approaching support (low probability).
Professional Trader
- Taking the initiative (lead the crowd)
- Elimination of all subjective noise that hinder decision-making process. They do not care what other people do and make decisions based on a series of rules that are very mechanical and do not carry emotions
- They learn to identify the correct entry (proper entry) in which most people do not notice
- They sell after a period of buying walked over / into the area resistance. They sell Greed (greedy), this in addition to the forex trading.
- They buy after the selling period runs near / in the area support. They buy Fear (fear)
- Successful traders:
• Execution of a mechanical trading
0 comments:
Post a Comment