Market Psychology – Become a Winner
By: Gaurav Taneja, Financial Trainer, Venteskraft May 14, 2020
Join us in the next blog of the Market Psychology series. If you missed out on the series start it from here.
Trading is not easy. It takes weeks, months and even years of practice to become a successful trader. But if you forget this when in contact with stock market, and always become hopeless after a set of losses, then you really need to change how you think. You always have an option, either you be hopeless and put a full stop at your trading career or you rise up against all the setbacks and do whatever is needed to become a successful trader. So the question is Are you a winner?
Stock market comes with a series of obstacles, but they are not the same for everyone. It depends on the financial background you come from, unless you are a wealthy businessman, you need a way to increase the capital by making profits to financially support yourself and adapt to the changing markets. Everyone needs to learn how to trade. No one takes birth with all the stock market knowledge. And having the knowledge is not sufficient; you need to hone your skills by trading day after day, week after week, month after month. Then the psychological aspect of trading should not be ignored. You have to learn to accept the losses, and stand back up every time you feel you have fallen.
Have you started feeling the list is too long? But it doesn’t matter for someone who is a positive thinker and has a winning mindset. No matter how long the list is, the positive thinker will always find a way to shorten the list. There will always be some setbacks, if the sailing is smooth then what did we learn? When you keep working day after day on a particular goal, even the most difficult-to-achieve goal can be achieved. There will be some days when you will work harder than everyone but their might not be significant result. Don’t ever let these minor setbacks make you doubt yourself.
Many traders make this mistake of thinking that trading can be a one night success. But that is not how things work, especially stock market. Things take time to show results. People when they trade for days, weeks and even months, and when the targets which they set are not met, they feel sad and depressed. But take a moment and think you have to give enough time to stock market just like you give time to other skills in your life. After all trading in the stock market is a skill which needs work to be done on.
If someone can help you, it is only you. Take the slow and steady road to success. Do not hurry in the process. If the results are good then the hard work required will be proportionately good as well. Start with small quantities, learn your strategies well, paper trade to get the hold of market. Promise yourself if any problem comes, you will find a solution to it and come out as a winner.