Profitable Trading Strategy
Trading Signals vs. Patterns vs. Setups vs. Strategies: Why a Personalized, Profitable Trading Strategy Is All You Need for Consistency https://youtu.be/b6kVakvsl2k We’re going to break
Human Psychology Conflicts - Illusion of Expertise
We continue our discussion on the topic of Human Psychology Conflicts and address the issue of Illusion of Expertise. The third major emotional/cognitive mismatch is common among traders who have gained significant knowledge about trading and consider that as the key to success in the market. However, these traders have a low level of expertise and practical skills required to execute a profitable trading system and adapt to the ever-changing financial markets.
Many aspiring traders enter the trading world with a mindset they’ve picked up from their school days and academic learning: “If I have knowledge, I can succeed.” This misconception, often referred to as the “Illusion of Expertise,” is rooted in the belief that their prior educational experiences have instilled in them the idea that “Knowledge is a Commodity.”
As a result, these traders continually search for more knowledge, hoping to discover a holy grail strategy. They mistakenly think that once they understand how the system works, they can execute that professionally and achieve success. This elusive belief leads to an attitude that makes them reluctant to seek skill-focused training and be coachable.
Many novice traders fail to grasp the reality that trading is a High-Performance Skill profession and that the knowledge-focused academic teachings received through books, videos, and webinars are insufficient to master the intricate practical skills needed in trading. Success in trading, much like sports, music, art, aviation, and medical specialization, demands acquiring practical high-level skills. In these fields, modern interactive deliberate practice training with mentoring and coaching is required to achieve success.
All aspiring traders aiming for success must let go of the illusion of expertise, truly grasp the essence of trading as a high-performance career and seek skill-focused training under deliberate practice training, such as the one offered in the Price Action Algo Trading course.
In conclusion, we provided an overview of three major emotional/cognitive mismatches, namely “Performance Pressure”, “Loss Aversion”, and “Illusion of Expertise”, which influence the proper execution of trading systems by most traders.
Introduction to Trading Personalization: Understanding its Crucial Role in a Trader’s Success
Introduction to Trading Personalization: Understanding its Crucial Role in a Trader’s Success https://youtu.be/c1-0XvoJeLc This lesson of module 12, workshop 34, I will discuss the topic
Advantages of High Probability Trading Setups with High Win Rate
Advantages of High Probability Trading Setups with High Win Rate https://youtu.be/eBCC3wdOW7Y we will discuss the advantages of a profitable trading system based on a high-probability
Price Action Trading and Its Advantage
Price Action Trading and Its Advantage In this video, we will focus our discussion on the topic of Price Action Trading and its advantage as
Advantages of High Probability Trading Setups with High Win Rate
Advantages of High Probability Trading Setups with High Win Rate we will discuss the advantages of a profitable trading system based on a high-probability trading
First and Second Order Competency in Trading
Various Levels of Competencies in Trading As we discussed in this video the various levels of competencies in trading and the importance of adapting to
