Stock Market Psychology Seminars
02/16/2005
I was very pleased this morning when I logged onto ADVFN and saw that they're providing a course on market psychology.
Market psychology is much more important than you might imagine, because in order to trade well you need to understand yourself. Without positivism and discipline, you could well fail as a trader or investor.
You need to learn about emotion and, especially, your own emotion: what makes you tick will determine the kind of buy and selling decisions you make.
ADVFN's evening seminar looks particularly at the kind of temperament you need if you're going to be a successful CFD trader. Tremendous honesty and self-discipline is required for making inevitable tough decisions when trading in contracts for differences.
As many of you know, this is a fast-moving arena and most CFDs are held short-term. If you haven't got the right mindset you shouldn't be trading them.
So, if you are thinking about trading CFDs and can get to this seminar, then go! You'll also meet like-minded people.
I'm always asked a lot about Level 2, whether it's worth having (YES!), and also about how market makers operate - this seminar deals with all of the above mentioned. You'll find out how Level 2 works and how best to use it.
The evening costs only a tenner, and looks to be worth every penny. However, it's free if you're a premium subscriber. It's to be held in London on February 23rd.
To book, call 0870 7940236 (office hours) or mail to events@advfn.com
For many of you who mail me about CFDs and Level 2, this is an excellent chance to do some real learning from real City traders.
I'd love to hear feedback from those of you who attend, and if you pick up any really good tips, let me know at robbiethetrader@aol.com
The best book I know on market psychology is Investment Madness by John John R Nofsinger. Buy it from the ADVFN bookshop - it's a great read.
The markets continue in good spirits and my portfolio carries on going higher with good gains from Carrs Milling and, in particular, Emerald Energy. But will it all end in tears? Probably, but not quite yet! We must enjoy the good times while we can but consider shorting again once the uptrend is broken.
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