Links

Link

Think of the Opportunities of Trades that Work Instead of Fear

You are what you think. If you think that there are always trades that have a potential to work you put yourself in the mindset of a consistent “potentially” successful trader. However if you think in terms of losing money….or afraid of being wrong you will dwell in the world of fear. This world of fear is completely detrimental to your trading success. In order to negate the fear or mitigate it, is saying to yourself” How much is this trade going to cost me if it will work”? I had that taped on my screen for years. This releases me from the anticipation the trade has to work as any trade is 50/50. More so I know in advance, how much of my account size I am willing to lose on the trade. I usually risk less than 1% of my account size on every trade. If you do not feel comfortable or accept that absolute fact that this trade does not have to work, Do not put this trade on …or for that fact any trade. You have to accept the fact that you can surely lose money on this trade or any trade. That is why I trade with a small percentage of my account size. The losses do not bother me. I accept that fact I will have trades that do not work simply as being available for trades that will work. Any trade is 50/50. However cutting my losses short and letting my profits run enables my edge. I do not have fear that my open profits will disappear. Sometimes that will definitely happen as well as other times I put my position (” rare times”) to profit to a greater extent than a I thought.

Trading is a mental game. If you want to succeed, work on your attitudes and thoughts…It is not about finding the Holy Grail indicator or system. It simply does not exist! Work on your trading psychology!

Past performance is not indicative of future performance

Be Sociable, Share!

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>