The Psychology of Trading

Louis Jackson

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18 Videos (1h 2m)
    • Introduction

      2:52
    • Are You Psychologically Suited for Trading?

      2:48
    • Paper Trading

      5:07
    • Setting Goals

      4:49
    • The Motivation of Traders

      2:45
    • Disciplined Trading

      4:32
    • Making Mistakes

      3:13
    • Overtrading

      2:16
    • Position Size

      5:57
    • Establishing Risk Limits

      3:06
    • Specialization

      3:02
    • The Hindsight Bias

      2:35
    • The Sunk Cost Fallacy

      2:44
    • Confirmation Bias

      3:43
    • The Bandwagon Effect

      1:53
    • Analysis Paralysis

      2:44
    • Avoidance of Reality

      4:34
    • Attachment to Ideas & Trade Positions

      3:07

About This Class

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If you have ever wanted to have an edge in trading, one that gives you knowledge, skills, and tools that most others lack, then this book is for you.

Because in order to be successful at trading in the financial markets, you need more than just knowledge of chart reading, technical indicators, and other mechanical aspects of trading.

You need to understand how psychology can make or break you in the world of financial markets. It's not just money being transacted in the markets; it's also your emotions which can be as volatile as the stocks you are trading.

In this course on trading psychology you will learn

  • Learn the importance of controlling your emotions when making trading decision

  • Learn how to master self discipline and stick to a trading plan

  • Learn how to learn from mistakes so you do not repeat them

  • Learn how to refine your skills through simulated paper trading without risking money

  • Learn how to use spreadsheets and journals for tracking trades

  • Learn how to have a confident mindset while maintaining a flexible and open mind when trading

  • Learn how to avoid getting too attached to our ideas (marrying positions)

In addition, this book delves into ideas from the realm of psychology and behavioral economics and demonstrates how they apply to trading :

  • The sunk cost fallacy and how it can keep traders stuck in losing trades

  • The hindsight bias and how it can lead traders to believe "they knew it all along"

  • The confirmation bias and how it causes many traders to seek out only the information that reinforces their own ideas

  • The bandwagon effect and how it can lead traders to embrace a herd mentality that often results in losing trades

  • Analysis paralysis and how traders fall victim to the mistaken idea that more and more analysis leads to better financial outcomes

This and much more is can be found  in The Psychology of Trading....

2 of 2 students recommendSee All

Great course thanks.
Joseph Latham

Entrepreneur • Internet Marketer , Personal Chef

42

Students

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Louis Jackson has been trading stocks and options as a career since 2010. Prior to becoming a full time trader, he worked as a college instructor teaching political science courses. He has a B.A. and M.A. in political science.

He is a self-taught trader who specialize in sentiment trading, volatility trading, and advanced technical analysis.

In addition to trading, he is also an author and entrepreneur.

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