Why is most trading psychology advice useless? | Lumir S Vinod

To read the original version, click here. Most of it screams about money management and patience. But do you know what the problem is? It’s very easy to say, “Be patient” or “Money management is more important than trading strategies.” That’s generic advice. What they fail to explain is why people can’t manage money or why they struggle to be patient. The answer lies in psychology. Addressing those underlying psychological reasons can help traders improve or at least become more aware the next time they’re in that situation. But many of these so called advisors don’t do that. They’re chasing views, not the quality of the content. So before getting carried away by some trading advisors, first analyze whether they only tell you what to do instead of explaining why people can’t do it and how to overcome the psychological biases that prevent them from doing it. So, if you want that type of content, you’d Better Follow Lumir.