21 May 2007

Trading mindset ...


Developing “The Trader’s Mindset” is a must for trading success and this takes time.
There is no short cut or learn a formula trick. You usually develop it by actually trading and the experiences you gain from trading.

Your head can stop you on the road to the "trader's mindset".
Here is why :

  • Fear to take loss: Your ego is at stake. You cannot take another loss.
  • Exit to early : Anxiety by closing a position. Fear of position reversing and then feeling let down. Need for instant gratification ?
  • Doubling down: Your trading is wrong but you can not accept it and you buy more. Your ego is at stake.
  • Not taking responsibility for your trade: No control or responsibility for the trade. Inability to accept the present reality of the market place.
  • I'm in the game: I want to play and gamble Needing to feel you are in the game.
Soon more .... stay tuned

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