*You can change your trader DNA*
Certain psychological traits can cause you to struggle with consistency and profitability. Fortunately, your trader DNA is not set in stone; there are ways to change it.
To build a healthy trading psychology, first acknowledge any negative or counterproductive traits you may have, no matter how uncomfortable that may be. Once you’ve identified your key traits—positive and negative—be more mindful of them and notice when they’re occurring.
If you recognize that you’re about to stubbornly dig in on a losing trade, you can catch yourself, cut your losses, and move on. Or if you sense you’re taking a loss too personally, remind yourself that your personal worth is separate from your trading.
The goal is not to eliminate your emotions, but to understand them. The more honest you are with yourself, the more in tune you’ll become with your emotions—and the better you’ll be able to minimize their negative effect on your trading.
Experiencing a losing trade can be emotionally challenging—a blow to the ego—which sometimes leads a trader to take the loss personally. This type of emotional attachment frequently results in revenge trading, where traders aim to recoup losses impulsively.