Trading psychology: Insights into the mind of a market wizard

August 15th, 2024
 

In the recent NinjaTrader Ecosystem webinar, “Insights Into the Mind of a Market Wizard,” Mandi Rafsendjani of High Performance Trading digs deep into the mind of seasoned trader Linda Bradford Raschke to show what it takes to build a successful career in day trading.

According to Rafsendjani, the fastest way to succeed in trading is to model your approach after those who have already blazed a path of success. That’s why she follows Raschke’s methods and employs trading psychology to achieve her goals.

Rafsendjani says: To be amazing trader—a high-performance trader—you must train your mind like you would train a dog. Much like an untrained dog, an untrained trader’s mind can be unruly, impulsive, and even fearful, especially when the markets are fluctuating rapidly.

Also like a dog, a trader’s mind needs time and training to become disciplined. It doesn’t just happen overnight.

Trading psychology: How you recover from losses makes all the difference

What’s the difference between an amazing trader and an average trader? At the surface level, most traders you see on social media appear to be perfect, but that’s just not the case. Citing Raschke’s teachings, Rafsendjani asserts that the most successful traders lose quite often—but it’s about how they come back from a loss, leaning on their strategy with self-confidence and assuredness, that separates them from the rest.

Rafsendjani goes in depth on trading psychology in the full presentation. Watch a sample clip here:

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