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Random article: Psychology of the first trade
Most part of beginning traders neglect psychological factor of market trading. However, over the time, everyone of them comes to an idea that psychology is 90% of trading success. Why does psychology impact so strong on resukts of trading? The main factor us that while looking at market a person percepts signals through the lense of one's knowledge and experience, which also includes fear, greed etc. Let's take two traders each made by one trade, but the first one will have profitable trade and the second one will have loss-making trade. We will analyze behavior of traders. Let's think their experience is pretty moderate and is equal. Upon making a profitable trade, the first trader will be encouraged with a successful start of the day, will think about reserve money to cover a potential loss and will have more ease in actions. On the one hand, it gives free play to looking for situations with better results, on the other, it can dull attention and as a consequence, to cause more harm than good.
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Popular article: Relative Vigor Index
Relative Vigor Index (RVI) – is an oscillator used for technical analysis in Forex. An author of this index is John Enlers known for application of cycles in technical analysis of the market. The first time RVI indicator was mentioned in Stocks and Commodities magazine in 2002. In this article author says that during growth close price of bar is higher than open price and the opposite tendency was observed by him in descending market. RVI index is built on the basis of this statement.
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