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Published:
August 16, 2022

Trading Psychology For Dummies

Overview

Keep your head in the game! Make smarter, confident trades in global markets

Trading is 80% psychology and 20% methodology. Trading Psychology For Dummies helps you develop the mindset you need to respond correctly in any market condition. Make more money on your trades as you develop mental strength, act confidently, and avoid the typical mistakes traders make when they don’t understand their own minds. This book is for traders with any portfolio size and any risk tolerance. With the clear and easy approach that has made Dummies investing books so wildly popular, you can take your trading skills to the next level. When you stop underestimating how much your psychology governs

your returns, you’ll discover ways to tweak your own thought process for better trading results.

  • Learn how human psychology influences decision making in financial markets and other areas of life
  • Discover advice and techniques that you can try right away to make more rational trades
  • Examine how institutional investors account for market psychology when they predict price movements
  • Earn better returns with the perspective of veteran traders who apply psychology-based techniques daily

Trading Psychology For Dummies gives an edge to novice and experienced traders alike. Gain confidence and maintain a flexible and open mind when trading.

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About The Author

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.

Sample Chapters

trading psychology for dummies

CHEAT SHEET

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.

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Articles from
the book

The Kelly Criterion is a method of management that helps you calculate how much money you might risk on a trade, given the level of volatility in the market. It emerged from statistical work done by John Kelly at Bell Laboratories in the 1950s. The goal was to figure out the best ways to manage signal-noise issues in long-distance telephone communications.
Over the years, day traders have developed many different ways to manage their money. Some of these are rooted in superstition, but most are based on different statistical probability theories. The underlying idea is that you should never place all of your money in a single trade, but rather put in an amount that is appropriate given the level of volatility.
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.
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Frequently Asked Questions

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