How to choose a reliable broker? Trader's psychological mistakes

Today I'm going to look at the problem of trader's psychology when choosing a broker. Let's talk about how to avoid all the marketing traps and multiply your deposit or at least keep it.

How to choose a broker?

What does a trader face when choosing a broker?

So, when a trader decides to make money in the market, he needs an intermediary who will give him access to this very market, i.e. a broker. This is a difficult task both for a beginner and an experienced trader, because the abundance of elaborate promises of easy enrichment, which press on the most hidden emotions, is just off the scale. Here the experienced trader has a slight advantage - he or she does not hurry to believe the promises, but carries out a certain verification. But about that later.

What guides a trader when choosing a broker?

[info_block align="right"]One of the most common methods you can use to test yourself for stupidity is the "internal calculator."[/info_block]

Everyone rookie trader sure that he is guided by his own intelligence, that is, intelligence, when deciding whom to entrust his deposit to. He looks at

  • How many people have already traded with the broker - the more, of course, the more reliable;
  • How many people have been successfully trained by a broker;
  • which traders came from scratch and in six months increased the deposit 10 times and took money for management;
  • how many years this broker has been on the market, and so on.

And it may seem strange, but the novice trader manages to find positive answers to all these questions. And when this happens (that is, his rational defenses are removed), he allows himself to dream.

One of the most common methods you can use to test yourself for stupidity is the "internal calculator" - once you sit down to calculate how long it will take you to double... triple... your deposit from $100 by opening a trading account with this broker, and buy an apartment-car-home-travel... congratulate yourself, you're "hooked."

Why do we fall for a broker's hook?

The answer is simple, because there is no logic in the pseudologic promises of fast money on which we want to rely. And our subconscious knows it very well. However, the rational mind, which we are so used to trusting, receives thoughtful information and we force ourselves to believe (which can be called "removal of rational protection") and turn on the same subconsciousness, but dreaming.

A little excursion into where it comes from. One of the strongest parts of our subconscious works in comfort-discomfort mode, it has no other categories of evaluation. It pushes us into pleasant situations all the time and protects us from unpleasant ones. So, when our parents promise us candy for doing the dishes, cleaning the room, and so on, we are willing to perform these actions for a reward. Our subconscious mind pushes us toward the pleasant, and we know what we need to do to do it first. But if we're promised a reward, we've done everything, and we don't get the bonus, of course we're offended, we're hurt, and our subconscious decides that it's a discomforting situation. However, the reward is so sweet that we keep wanting it on a deep level, it's just that now there's a defense mechanism - we don't believe everyone who promises us something. And this defense mechanism we often confuse with logic and rationality, and in fact it is emotional.

Another example is when we like someone and it is mutual, we are happy. If we suddenly see that the object of our "mutual" adoration is kissing someone else, or even just giving the same signs of attention as we do, we are hurt. However, we don't stop falling in love after that, it's just that now we test those to whom we want to open up, and the desire for reciprocity is not diminished, but even intensified and accumulated thanks to this very protective mechanism.

Likewise in trading - it takes us so long to get what we want that the accumulated potential of unrealized desires decides in favor of the broker who best guesses them. But, of course, only after we are convinced of the "logical" evidence.

How do you protect yourself from your own subconscious?

It is both complicated and simple at the same time. If you are a beginner, there is too great a chance that you will "fall for it," precisely because your subconscious mind, which has accumulated a huge potential of unrealized desires, decides for you. Without the professional help of a psychologist, you don't stand much of a chance.

My work shows that people start thinking about the psychology of trading at best after 2 years of trading and several thousand dollars of lost deposits. At first everyone is sure that they want strategies that lead to enrichment.

The second extreme are rookie traders who quit their jobs and go into trading to become Sorosses in six months tops. After I told them to get a job with a regular income and trade in their spare time, they would disappear, simply because they didn't get the answer they wanted to hear. And those who listened, today manage other people's money (I am writing these examples so that you again look at how little real logic in the actions of such traders).

Now more about the methods. Consider the actions of more experienced traders - by more experienced I mean those who have already believed brokers several times and lost several deposits. Their subconsciousness, not logic, is already trained not to believe beautiful promises. When they choose a broker, after reading the promises they bravely go to forums and make inquiries, do a pretty serious investigation, because they want to know who they're trusting with their money.

Some newbies don't go to forums to check simply because they are genuinely afraid of being disappointed in a company they like. Their subconscious mind has already drawn a picture of a fabulous future and simply does not want to destroy it - for them the destruction of trust in the broker is equal to the destruction of the dream.

It is important to understand that a broker is not a dream performer, but only a tool. And like everything in this world it is not eternal and sometimes it can fail. When a tool does not work well, we just change it, there is no point in repairing it in this case.

How to choose the right broker?

Two years ago we held a summer intensive where we decided to test all possible brokers. The group was 12 people, and each participant took five brokers. We voiced the results in the general chat room. Such a group allowed us to make a big coverage - no dreaming, a simple check. That's how you should choose a broker.

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Комментарии ( 2 )

  1. I have been in a bad situation with them, even though not a large amount, but still, I borrowed money because I was just sure that I will earn, and I have earned, and I can not take the money back, I can not take the money back. i can not get the money back. i can not get the money back. i spend so much time with my employers, i don't leave them alone and in such a situation i have to leave them alone.?? I will be very grateful in advance ...

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