EWI's
Jeffrey Kennedy shows you how your
psychological strengths and weaknesses determine your ability to "live
long and prosper" in fast-moving markets
Do your decisions rely on
data, or do you go with your gut? Think about your most
recent auto purchase. Was it based on meticulous consumer research or
did you go with a model that "felt right"?
How about the last time you had to assemble something? Did you
read the manual first or just figure it out as you went? What
about your most recent successful stock market trade?
Consistent trading success demands independent thinking and emotional
discipline.
I just cannot stress enough
how you
have to manage your emotions whenever you're on [a] position.
Field dependence can sabotage you
unknowingly when you're trading, because you'll see a trade signal, the
trade will be there, but "it just won’t feel right."
[It's] one of those things that can
sabotage us if we're not aware of it, or, more importantly, [don't]
have a well-defined methodology and the discipline to follow it.
In footage from his trading course in
Las Vegas, he goes on to discuss the psychological profile that makes
"the best trader"
Learn more about managing your emotions, developing your trading
methodology, and the importance of discipline in your trading decisions
in The
Best of Trader's Classroom, a FREE 45-page eBook from
Elliott Wave International.
Since 1999, Jeffrey Kennedy has produced dozens of Trader's Classroom
lessons exclusively for his subscribers. Now you can get "the best of
the best" in these 14 lessons that offer the
most critical information every trader should know.
Find out why traders fail, the three phases of a trader's education,
and how to make yourself a better trader with lessons on the Wave
Principle, bar patterns, Fibonacci sequences, and more!
This
article was syndicated by
Elliott
Wave International and was originally published under the
headline What
Personality Type Makes the Best Trader?. EWI is the world's
largest market forecasting firm. Its staff of full-time analysts led by
Chartered Market Technician Robert Prechter provides 24-hour-a-day
market analysis to institutional and private investors around the world.
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