{"appState":{"pageLoadApiCallsStatus":true},"authorState":{"author":{"headers":{"timestamp":"2024-03-04T08:49:35+00:00"},"authorId":35166,"data":{"name":"Roland Ullrich","slug":"roland-ullrich","description":" Roland Ullrich has worked for 20 years at investment banks in Frankfurt, London, and New York, including five years on Wall Street. For twelve years now, he has been coaching professional and private traders. He is also advising and lecturing on the topics of trading psychology and brain-friendly stock market strategies. ","photo":{"src":null,"width":0,"height":0}}},"authorLoadedStatus":"success"},"listState":{"list":{"count":1,"total":1,"items":[{"headers":{"creationTime":"2022-08-15T20:10:19+00:00","modifiedTime":"2022-10-21T15:54:25+00:00","timestamp":"2022-10-21T18:01:03+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"General Investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34300"},"slug":"general-investing","categoryId":34300}],"title":"Trading Psychology For Dummies Cheat Sheet","strippedTitle":"trading psychology for dummies cheat sheet","slug":"trading-psychology-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"Are you surprised that it's so hard to consistently earn money on the stock exchange? The explanation is as simple as it is sobering: It's because we are all hu","noIndex":0,"noFollow":0},"content":"Are you surprised that it's so hard to consistently earn money on the stock exchange? The explanation is as simple as it is sobering: It's because we are all human beings, with all the associated genetic dispositions that come with that fact.\r\n\r\nThe neural structure of the human brain is the result of our evolutionary development. Your thought and behavior patterns, such as the deep-seated fight-or-flight response, continue to influence your decisions today on the financial markets.\r\n\r\nYour nature is not particularly well-suited to trading, but you can learn to do it. The human brain is capable of change and development. You can learn the mental prerequisites for brain-compatible trading. With the right mindset, you can recognize and avoid errors before they occur.\r\n\r\nThe innovative discoveries of modern neurofinance research will lead the way to success factors for brain-compatible and, therefore, successful trading.","description":"Are you surprised that it's so hard to consistently earn money on the stock exchange? The explanation is as simple as it is sobering: It's because we are all human beings, with all the associated genetic dispositions that come with that fact.\r\n\r\nThe neural structure of the human brain is the result of our evolutionary development. Your thought and behavior patterns, such as the deep-seated fight-or-flight response, continue to influence your decisions today on the financial markets.\r\n\r\nYour nature is not particularly well-suited to trading, but you can learn to do it. The human brain is capable of change and development. You can learn the mental prerequisites for brain-compatible trading. With the right mindset, you can recognize and avoid errors before they occur.\r\n\r\nThe innovative discoveries of modern neurofinance research will lead the way to success factors for brain-compatible and, therefore, successful trading.","blurb":"","authors":[{"authorId":35166,"name":"Roland Ullrich","slug":"roland-ullrich","description":" <p><b>Roland Ullrich </b>has worked for 20 years at investment banks in Frankfurt, London, and New York, including five years on Wall Street. For twelve years now, he has been coaching professional and private traders. He is also advising and lecturing on the topics of trading psychology and brain-friendly stock market strategies.</p> ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/35166"}}],"primaryCategoryTaxonomy":{"categoryId":34300,"title":"General Investing","slug":"general-investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34300"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":193497,"title":"Kelly Criterion Method of Money Management","slug":"kelly-criterion-method-of-money-management","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193497"}},{"articleId":193493,"title":"The Optimal F Money Management Style","slug":"the-optimal-f-money-management-style","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193493"}}],"fromCategory":[{"articleId":287556,"title":"Options Trading For Dummies Cheat Sheet","slug":"options-trading-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/287556"}},{"articleId":285735,"title":"What Is ESG Investing?","slug":"what-is-esg-investing","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/285735"}},{"articleId":285761,"title":"Just When You Thought It Was Safe: Coronawashing","slug":"just-when-you-thought-it-was-safe-coronawashing","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/285761"}},{"articleId":273978,"title":"Investing For Canadians All-in-One For Dummies","slug":"investing-for-canadians-all-in-one-for-dummies","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273978"}},{"articleId":265694,"title":"Online Investing: Get More with a Discount Broker","slug":"online-investing-get-more-with-a-discount-broker","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/265694"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":294139,"slug":"trading-psychology-for-dummies","isbn":"9781119879589","categoryList":["business-careers-money","personal-finance","investing","general-investing"],"amazon":{"default":"https://www.amazon.com/gp/product/1119879582/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119879582/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119879582-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119879582/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119879582/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/trading-psychology-for-dummies-cover-9781119879589-203x255.jpg","width":203,"height":255},"title":"Trading Psychology For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b><b data-author-id=\"35166\">Roland Ullrich</b> </b>has worked for 20 years at investment banks in Frankfurt, London, and New York, including five years on Wall Street. For twelve years now, he has been coaching professional and private traders. He is also advising and lecturing on the topics of trading psychology and brain-friendly stock market strategies.</p>","authors":[{"authorId":35166,"name":"Roland Ullrich","slug":"roland-ullrich","description":" <p><b>Roland Ullrich </b>has worked for 20 years at investment banks in Frankfurt, London, and New York, including five years on Wall Street. For twelve years now, he has been coaching professional and private traders. He is also advising and lecturing on the topics of trading psychology and brain-friendly stock market strategies.</p> ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/35166"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{"key":"cat","values":["business-careers-money","personal-finance","investing","general-investing"]},{"key":"isbn","values":["9781119879589"]}]\" id=\"du-slot-6352de5f76a82\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{"key":"cat","values":["business-careers-money","personal-finance","investing","general-investing"]},{"key":"isbn","values":["9781119879589"]}]\" id=\"du-slot-6352de5f77294\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":0,"title":"","slug":null,"categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/"}}],"content":[{"title":"Practice makes perfect","thumb":null,"image":null,"content":"<p>Successful trading depends on how consistently you practice and train. A demo account makes it easier for you to test your strategies. With paper trading, you can train the sequences and processes you’ve come up with until you can automatically recall them.</p>\n<p>The advantages of having smooth trading processes and fixed rules in trading are clear; they prevent poor decision making caused by emotional responses. Along the way, you’ll learn pattern identification techniques. On the one hand, there are market and price patterns to learn; on the other hand, there are emotional thought and behavior patterns you need to identify.</p>\n<p>Some goals to shoot for:</p>\n<ul>\n<li>You’ve learned to improve your opportunities for profit while limiting your risks of loss.</li>\n<li>You’ve set up your trading processes and systematized your trading. You act solely according to your tested and proven strategies.</li>\n<li>You focus on the profits and goals you want to achieve and have defined a profit target for each trade.</li>\n<li>You’ve truly accepted losses and see them as a learning opportunity. You consistently limit your losses with protective stops.</li>\n</ul>\n"},{"title":"Your trader personality","thumb":null,"image":null,"content":"<p>You have many exercises and techniques available to you that you can use to develop your personality as a trader as well as help you act on the markets in an emotionally sovereign, strong-minded way.</p>\n<p>One important technical and psychological component of this process is keeping a trading journal. It’s the key to your personal development. You’ll learn to recognize and solve psychological patterns. With all this knowledge, you’ll find a trading style that suits your personality.</p>\n<p>A further important component involves self-coaching techniques. All these exercises have as their goal the desire to provide you with mental strategies to deal with losses, stress, and fear in a healthier way. Goals to shoot for:</p>\n<ul>\n<li>You have a good idea what your character traits are and where your skills lie. You have also used simulations to determine a trading style appropriate for you.</li>\n<li>You use your trading journal to analyze mistakes, to engage in some self-reflection, and for personal and professional development.</li>\n<li>You only trade when you are in an emotionally balanced state.</li>\n</ul>\n"},{"title":"Decision-making processes in trading","thumb":null,"image":null,"content":"<p>It is not easy to make clever and well thought-out decisions when trading. It is important that you learn how to deal with unconscious decision-making processes and figure out how you could better manage how susceptible you are to failure.</p>\n<p>When you have understood the evolutionary development of your brain, you can avoid irrational thought and behavior patterns at an early stage. Experience shows that most traders inherently act irrationally and in a biased way.</p>\n<p>Behavioral finance research provides some exciting discoveries in this field. Systematic misjudgments, biases, and a pronounced herd mentality are some of the grave consequences of submitting to such patterns.</p>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-08-15T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":294706}],"_links":{"self":{"self":"https://dummies-api.dummies.com/v2/authors/35166/articles?sortField=time&sortOrder=1&size=10&offset=0"}}},"objectTitle":"","status":"success","pageType":"author","objectId":"35166","page":1,"sortField":"time","sortOrder":1,"categoriesIds":[],"articleTypes":[],"filterData":{"articleTypeFilter":[{"articleType":"Cheat Sheet","count":1}]},"filterDataLoadedStatus":"success","pageSize":10},"adsState":{"pageScripts":{"headers":{"timestamp":"2024-03-04T05:50:01+00:00"},"adsId":0,"data":{"scripts":[{"pages":["all"],"location":"header","script":"\r\n<script src=\"https://cdn.optimizely.com/js/10563184655.js\"></script>","enabled":false},{"pages":["all"],"location":"header","script":"\r\n<script>var _comscore = _comscore || [];_comscore.push({ c1: \"2\", c2: \"15097263\" });(function() {var s = document.createElement(\"script\"), el = document.getElementsByTagName(\"script\")[0]; s.async = true;s.src = (document.location.protocol == \"https:\" ? \"https://sb\" : \"http://b\") + \".scorecardresearch.com/beacon.js\";el.parentNode.insertBefore(s, el);})();</script><noscript><img src=\"https://sb.scorecardresearch.com/p?c1=2&c2=15097263&cv=2.0&cj=1\" /></noscript>\r\n","enabled":true},{"pages":["all"],"location":"footer","script":"\r\n<script type='text/javascript'>\r\n(function(){var g=function(e,h,f,g){\r\nthis.get=function(a){for(var a=a+\"=\",c=document.cookie.split(\";\"),b=0,e=c.length;b<e;b++){for(var d=c[b];\" \"==d.charAt(0);)d=d.substring(1,d.length);if(0==d.indexOf(a))return d.substring(a.length,d.length)}return null};\r\nthis.set=function(a,c){var b=\"\",b=new Date;b.setTime(b.getTime()+6048E5);b=\"; expires=\"+b.toGMTString();document.cookie=a+\"=\"+c+b+\"; path=/; \"};\r\nthis.check=function(){var a=this.get(f);if(a)a=a.split(\":\");else if(100!=e)\"v\"==h&&(e=Math.random()>=e/100?0:100),a=[h,e,0],this.set(f,a.join(\":\"));else return!0;var c=a[1];if(100==c)return!0;switch(a[0]){case \"v\":return!1;case \"r\":return c=a[2]%Math.floor(100/c),a[2]++,this.set(f,a.join(\":\")),!c}return!0};\r\nthis.go=function(){if(this.check()){var a=document.createElement(\"script\");a.type=\"text/javascript\";a.src=g;document.body&&document.body.appendChild(a)}};\r\nthis.start=function(){var t=this;\"complete\"!==document.readyState?window.addEventListener?window.addEventListener(\"load\",function(){t.go()},!1):window.attachEvent&&window.attachEvent(\"onload\",function(){t.go()}):t.go()};};\r\ntry{(new g(100,\"r\",\"QSI_S_ZN_5o5yqpvMVjgDOuN\",\"https://zn5o5yqpvmvjgdoun-wiley.siteintercept.qualtrics.com/SIE/?Q_ZID=ZN_5o5yqpvMVjgDOuN\")).start()}catch(i){}})();\r\n</script><div id='ZN_5o5yqpvMVjgDOuN'></div>\r\n","enabled":false},{"pages":["all"],"location":"header","script":"\r\n<script>\r\n (function(h,o,t,j,a,r){\r\n h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)};\r\n h._hjSettings={hjid:257151,hjsv:6};\r\n a=o.getElementsByTagName('head')[0];\r\n r=o.createElement('script');r.async=1;\r\n r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv;\r\n a.appendChild(r);\r\n })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');\r\n</script>","enabled":false},{"pages":["article"],"location":"header","script":" <script src=\"//get.s-onetag.com/bffe21a1-6bb8-4928-9449-7beadb468dae/tag.min.js\" async defer></script>","enabled":true},{"pages":["homepage"],"location":"header","script":"<meta name=\"facebook-domain-verification\" content=\"irk8y0irxf718trg3uwwuexg6xpva0\" />","enabled":true},{"pages":["homepage","article","category","search"],"location":"footer","script":"\r\n<noscript>\r\n<img height=\"1\" width=\"1\" src=\"https://www.facebook.com/tr?id=256338321977984&ev=PageView&noscript=1\"/>\r\n</noscript>\r\n","enabled":true}]}},"pageScriptsLoadedStatus":"success"},"navigationState":{"navigationCollections":[{"collectionId":287568,"title":"BYOB (Be Your Own Boss)","hasSubCategories":false,"url":"/collection/for-the-entry-level-entrepreneur-287568"},{"collectionId":293237,"title":"Be a Rad Dad","hasSubCategories":false,"url":"/collection/be-the-best-dad-293237"},{"collectionId":295890,"title":"Career Shifting","hasSubCategories":false,"url":"/collection/career-shifting-295890"},{"collectionId":294090,"title":"Contemplating the Cosmos","hasSubCategories":false,"url":"/collection/theres-something-about-space-294090"},{"collectionId":287563,"title":"For Those Seeking Peace of Mind","hasSubCategories":false,"url":"/collection/for-those-seeking-peace-of-mind-287563"},{"collectionId":287570,"title":"For the Aspiring Aficionado","hasSubCategories":false,"url":"/collection/for-the-bougielicious-287570"},{"collectionId":291903,"title":"For the Budding Cannabis Enthusiast","hasSubCategories":false,"url":"/collection/for-the-budding-cannabis-enthusiast-291903"},{"collectionId":299891,"title":"For the College Bound","hasSubCategories":false,"url":"/collection/for-the-college-bound-299891"},{"collectionId":291934,"title":"For the Exam-Season Crammer","hasSubCategories":false,"url":"/collection/for-the-exam-season-crammer-291934"},{"collectionId":301547,"title":"For the Game Day Prepper","hasSubCategories":false,"url":"/collection/big-game-day-prep-made-easy-301547"}],"navigationCollectionsLoadedStatus":"success","navigationCategories":{"books":{"0":{"data":[{"categoryId":33512,"title":"Technology","hasSubCategories":true,"url":"/category/books/technology-33512"},{"categoryId":33662,"title":"Academics & The Arts","hasSubCategories":true,"url":"/category/books/academics-the-arts-33662"},{"categoryId":33809,"title":"Home, Auto, & Hobbies","hasSubCategories":true,"url":"/category/books/home-auto-hobbies-33809"},{"categoryId":34038,"title":"Body, Mind, & Spirit","hasSubCategories":true,"url":"/category/books/body-mind-spirit-34038"},{"categoryId":34224,"title":"Business, Careers, & Money","hasSubCategories":true,"url":"/category/books/business-careers-money-34224"}],"breadcrumbs":[],"categoryTitle":"Level 0 Category","mainCategoryUrl":"/category/books/level-0-category-0"}},"articles":{"0":{"data":[{"categoryId":33512,"title":"Technology","hasSubCategories":true,"url":"/category/articles/technology-33512"},{"categoryId":33662,"title":"Academics & The Arts","hasSubCategories":true,"url":"/category/articles/academics-the-arts-33662"},{"categoryId":33809,"title":"Home, Auto, & Hobbies","hasSubCategories":true,"url":"/category/articles/home-auto-hobbies-33809"},{"categoryId":34038,"title":"Body, Mind, & Spirit","hasSubCategories":true,"url":"/category/articles/body-mind-spirit-34038"},{"categoryId":34224,"title":"Business, Careers, & Money","hasSubCategories":true,"url":"/category/articles/business-careers-money-34224"}],"breadcrumbs":[],"categoryTitle":"Level 0 Category","mainCategoryUrl":"/category/articles/level-0-category-0"}}},"navigationCategoriesLoadedStatus":"success"},"searchState":{"searchList":[],"searchStatus":"initial","relatedArticlesList":[],"relatedArticlesStatus":"initial"},"routeState":{"name":"Author","path":"/author/roland-ullrich-35166/","hash":"","query":{},"params":{"author":"roland-ullrich-35166"},"fullPath":"/author/roland-ullrich-35166/","meta":{"routeType":"author","prerenderWithAsyncData":true},"from":{"name":null,"path":"/","hash":"","query":{},"params":{},"fullPath":"/","meta":{}}},"profileState":{"auth":{},"userOptions":{},"status":"success"}}

Home
Roland Ullrich

Roland Ullrich

Roland Ullrich has worked for 20 years at investment banks in Frankfurt, London, and New York, including five years on Wall Street. For twelve years now, he has been coaching professional and private traders. He is also advising and lecturing on the topics of trading psychology and brain-friendly stock market strategies.

Articles From Roland Ullrich

General Investing Trading Psychology For Dummies Cheat Sheet

Cheat Sheet / Updated 10-21-2022

Are you surprised that it's so hard to consistently earn money on the stock exchange? The explanation is as simple as it is sobering: It's because we are all human beings, with all the associated genetic dispositions that come with that fact. The neural structure of the human brain is the result of our evolutionary development. Your thought and behavior patterns, such as the deep-seated fight-or-flight response, continue to influence your decisions today on the financial markets. Your nature is not particularly well-suited to trading, but you can learn to do it. The human brain is capable of change and development. You can learn the mental prerequisites for brain-compatible trading. With the right mindset, you can recognize and avoid errors before they occur. The innovative discoveries of modern neurofinance research will lead the way to success factors for brain-compatible and, therefore, successful trading.

View Cheat Sheet