Advanced Trading Psychology
Ever been so disappointed with an outcome even after you had planned what you were going to do, what you were going to say, and how you were going to do what you wanted but it still didn’t play out the way you imagined??
It’s like when a child asks his or her parents if he can go for a sleepover at a friend’s house and over and over, but they keep saying no. What does the child do next?
Forex Trading, Poker, Black Jack. To be consistently successful at these, you need to have a basic understanding of Game Theory. What is Game Theory??
“Game Theory is the study of mathematical models of strategic interaction among rational decision-makers” – Wiki. Basically a calculated approach to a game of 2 or more people where there are rewards and risks at play. In Forex trading, we can almost bet on newbie traders being irrational.
Markets are very dynamic, as we all know. Traders starting their trading journey, and even trading veterans, can find it difficult to determine whether a strategy is to blame for poor performance or if the individual is unintentionally sabotaging their trading results