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Focusing on the Positive

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Psychology and Risk Management

• What to expect
• Risks
• Position sizing
• illusion of control
• Accepting critisism
• Paralyzed by fear
• Loss is a feedback, not a failure
• The flexible trader
• Focusing on the positive
• Short straddle
• The dynamics of greed
• The herd mentality
• Notes

Focusing on the Positive

Focusing on the positive, is the common for traders to become fixated on their mistakes when attempting to face the demands of trading, to the point where they begin to believe they will never be able to master the markets. However, it’s frequently lot more fruitful to highlight what you are doing well rather than what you are doing incorrectly. Only after you’ve recognised your strengths should you focus on pinpointing your weaknesses and making a few tiny improvements. You will undoubtedly experience some frustration and possibly disappointment if you first concentrate on what you’re doing incorrectly. However, initially concentrating on what you are doing well will make you feel upbeat.
 

We are frequently encouraged as kids to become self-conscious of our limitations. We learn to anticipate suffering the consequences of our errors. Soon we begin to ignore our limitations in order to avoid punishment. Furthermore, when restrictions are concealed, no action is made to address the issue until a catastrophe occurs. To embrace failure, though, is a different strategy. Like expressing, “I have faith in my overall abilities. In order to trade even better, I’m going to attempt to see what could go wrong. Instead of viewing a failure as a terrifying occurrence, adopt a more proactive, problem-solving mindset. Failure can be viewed as a chance for improvement and advancement.

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Consider a diligent trader who is unsuccessful due to the employment of faulty, unreliable trading tactics. A trader has a lot of things going for him or her if they have enough trading capital, understand how to map out every component of a trading plan (such as entry, exit, and risk control tactics), and can follow the plan. It’s critical to identify these assets right away. You become upbeat and prepared to pay close attention to the few things that are going wrong as a result.

 

You can more readily develop the abilities necessary to engage in profitable trading if you have this vigour and excitement (In this particular case, you can focus on learning and executing winning trading strategies, while feeling assured that other sub-skills have been mastered).

Different traders have various resources and restrictions. Some traders may employ sound trading techniques, but they lack the discipline to stick to their trading plan. Many people may be able to identify some of their trading plan (like risk management), but they might not be able to specify all of it (such as entry and exit strategies). Whatever it is you’re “wrongly” doing, it’s critical to recognise these problems and resolve them. However, if you dwell on the bad too much, you’ll end up feeling let down. Prioritize the good first.

 

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