Oil Psychology and Risk Management Tutorial

Oil Trading Psychology Course

When it comes to oil trading as a beginner trader you will need to execute your crude oil trades like a professional oil trader, without any emotions when trading, or without being influenced by crude oil price movement not that when the crude oil price has moved up so much you decide that you now need to open a buy oil trade because the upward crude oil price move has really moved a lot pips.

So to trade oil like a professional oil trader - as a beginner trader you need to transform your trading oil psychology. To transform your trading oil psychology then you will require to write down the oil trading psychology rules in your oil plan which you will follow when crude oil trading.

The oil example explained below shows how to write the oil trading psychology rules

Oil Trading Psychology and Risk Management Tutorial

• I Trade without Emotions (fear, greed, anticipation, bias, impulse, overexcitement)
• I trade what my eyes see on the crude oil charts not what I feel.
• I will be patient when trading.

My job is not to be the oil trading system!

It is not to decide which crude oil trades looks promising.

That is the job of my oil trading system. My oil trading system has a set of oil trading rules which tells me this is what I follow. Do not get caught up in crude oil price action movement and make oil rules as you go along.

MY JOB DESCRIPTION IN Oil TRADING IS

To sit patiently & wait for my oil system to indicate that it is time to enter a trade or it is time to exit a trade. And then with great focus I execute the oil trade as planned on my oil trading plan.

Taking crude oil trades not indicated by the oil trading system, second guessing the crude oil system and not taking crude oil trades given by the trading system, hesitating and getting in to a oil trade late, anticipating and getting in to a oil trade early are all common place in crude oil trading and boil down to lack of faith in the crude oil system and not having a burning focus on accurate execution of crude oil trades.

Oil TRADING GOAL: To have 100% undivided focus on mastering my ability to execute my oil trading system accurately.

As a trader the more you develop the ability to step back from crude oil price movement & watch the oil market dispassionately, waiting for a oil signal to trade, the easier it will be to witness the fluctuations of your oil trading emotions without getting sucked into them and allowing these emotions to throw you off your oil trading plan.

By writing oil trading psychology rules like the ones above on your oil plan - then as a trader you will begin to follow your crude oil system and trade more like a professional oil trader would if the oil system you are oil trading with was to be automated.

The more you follow these oil psychology trading rules the easier it will become to trade the oil market without being influenced by the various crude oil market price movements.

As a trader always make sure that you are opening a oil trade because the oil rules of your trading system have been met and a oil signal has been generated and not because you have seen the crude oil price jump and so now you decide it is time to open a buy oil trade transaction.

By following rules a oil trading system then you will be able to trade oil more like a professional oil trader and follow the rules of your trading system & your trading results will improve.

Changing your oil trading psychology will not be a very easy thing and this is why as a beginner trader you must constantly make an effort to follow the rules specified in your oil trading psychology section on your oil trading plan until the time you master these oil psychology rules and you can trade the oil market without emotions & trade like a professional oil trader.

To learn more about oil psychology read the following oil psychology and risk management tutorials:

• Oil Psychology Guide
• Oil Trading Psychology & Risk Management Emotions Fear and Greed
• Oil Trading Psychology & Risk Management Psychology Principles
• Learn Oil Psychology and Risk Management Psychology

Oil Trading Psychology for Oil Traders - Oil Psychology Lesson - Oil Psychology Tutorials - Oil Trading Psychology Books.