Tips on how to Conquer Greed, Fear and Emotional Decision-Making:

It's no news that "Trading" is a mentally demanding activity that requires nothing short of creating a unique combination of skills, knowledge, and emotional discipline. While many traders focus on building their technical analysis skills and mastering trading strategies, there are tendencies to ignore the psychological aspects of trading which is precisely the psychological component that can make or mar any trader's success. 

Fear, greed, and emotional decision-making are just a few of the psychological aspects that can destroy even the most skilled and experienced traders.

The Fear of losing funds, fear of missing out on profits, or the fear of being wrong that can lead to impulsive and irresponsible decision-making are one of the most important psychological difficulties traders face. Let's take an example, a trader who is fearful of losing money may be pushed to close a trade prematurely, even if it means sacrificing potential profits. On the other hand, a trader who is afraid of missing out on profits may be tempted to overly trade, accepting excessive risk in the process. 

To overcome this fear, traders need to take into cognizance the habit of building and developing a healthy relationship with risk and uncertainty, and then learn how to manage their emotions through techniques such as journaling, deep meditation, deep breathing.

Greed: This is another psychological pitfall that more often than not, trap traders. This occurs when traders become overly focused on making profits, that they become reckless and impulsive, taking on excessive risk and ignoring healthy risk management principles. Greed can also lead to traders becoming too desperate to make excess money. To conquer greed, Traders need to set a clear description and understanding of what their financial goals are, learning how to tolerate risk, and prioritize risk management over maximizing profit. All of that can be achieved when Traders develop realistic profit targets, using the right position sizing to manage risk, and avoid over-leveraging.

Emotional decision-making is another psychological challenge faced by Traders. When traders allow their emotions to dictate their trading decisions, they may become prone to impulsive and irrational behavior. For example, a trader who is filled with anxiety or stress has the tendency of being tempted to take impulsive trades, even if they are not supported by sound analysis. To overcome emotional decision-making, traders need to develop a systematic and disciplined approach to trading, using tools such as trading plans, checklists, and journals to stay focused and on track.

The key to overcoming these psychological challenges of trading would be to develop a deep and clear understanding of yourself and your emotions, such as the zeal to engage in daily self-reflection, to understand and accept one's strengths and weaknesses, and to develop strategies for managing one's emotions and behaviors. 

In conclusion, traders should nurture a greater awareness of what their psychological strength and weakness is. By this, traders can develop a mental tenacity and resilience they require to succeed in the financial markets.