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Advanced Technical Analysis of ETFs: Strategies and Market Psychology for Serious Traders by Michael Sincere, Edward Balog, Deron Wagner

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Chapter 8

Road Map of Market Psychology

Why is it that you can take any two traders, put them side by side, and give them the identical trading plan with detailed instructions, and yet the trading results they attain end up remarkably different? Why does one trader consistently lose money and another consistently make money with the same trading plan? Although there are many factors that might account for this, it is our belief that at the core of success and failure in trading is individual psychology. In our opinion understanding individual and group psychology is the most important aspect of becoming a successful trader.

We can teach anyone our swing trading methodology. We do it every day. But from working with thousands of traders over the ...

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