Day Trading Profit Secrets – Stress and Trading Success

It is often stated that the psychological aspect of day trading is as much as 80% of the game. Yet it would be surprising if 10% of people pay any attention to this fact. Perhaps that explains why 90% of new traders fail to profit, and even worse they take a loss.

These losses leave them with a poor perception of day trading and they are unlikely to return. Stress doesn’t suddenly turn up when you start to trade. Because trading is an extension of your life, when you start trading you will bring you existing strengths, weaknesses, anxieties, worries, and any quirky behaviors’ that you already have.

If you are a keen gambler on the horses or the dogs, perhaps you enjoy the poker machines or the craps table in the casino, or you are known for your big betting on poker games. If you relate strongly to the above then you are in for a stressful ride as you begin to trade. You will find it extremely difficult to trade in a responsible professional manner while a part of you is a gambler at heart.

Perhaps gambling is not your interest but you are by nature a very careful conservative person. You may find you’re trading even more stressful than the gambler who is accustomed to bad outcomes. The highly conservative trader is likely to over think the process and become bogged down in uncertainly.

Another interesting personality is the over confident individual who has a great belief in themselves and their abilities. This kind of person can find it difficult to follow a system and play by a set of rules. They resist advice and can become frustrated if they don’t experience rapid success.

So you are asking who is left, who can be a good trader. There are two groups of people who stand out as excellent traders. No it is not the young keen financial graduates. It is marines and nurses, why because they can both follow a system and they can stick to the rules even if they don’t agree with them at times. Of course there will be many other groups of equally focused people. The question is which group you fall into.

Another question is if you wish to trade successfully, and who doesn’t, then what do you have to do to model the success traders. What do you have to learn, how do you need to think, and behave and how are you going to control your stress when it arises during trading, and believe me it will come.

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Happy Trading
Ian Newton