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Blindfolded on a Mountain Range

Trader Psychology

Free online course covering trading psychology

section 2

Blindfolded on a Mountain Range

unit 1 / 8

Open your trading platform to an asset that you normally trade. Look at the last candlestick. Do you think the next one will close higher or lower than the current one? How about the one after? If you use any analytical tools what are they telling you? Do you have an idea of where the next few candles will take the price of this asset?

Perhaps your various methods of analysis, such as technical indicators, trend lines or candlestick patterns, are telling you something about how high or low the current price is, relative to recent price action. Maybe this information is not directly related to the forex trading psychology, but it could provide you with an insight of what is likely to happen to the price in the forthcoming minutes/hours/days.

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Novice traders mistakes

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