Trading is Easy, It is your Mind that is Corruptive!
Trading can be fairly easy. Learning how to trade the CORRECT way makes the task easier. And having a Strategy will make your trading goals achievable. Many traders do not have a problem with the technical or the actual process of trading. The problem is the psychological aspect of trading. Traders must have the mental flexibility and humility to admit when they are wrong in a timely manner, because in the markets often times you will be wrong more times than you are right. This very rational is the reason why many traders cut their winners short and let their losers run.
Remember that the Markets are always right! The Markets are efficient in one thing and that is separating day traders from their capital.
Free your mind! Focus on Self-Control and Discipline. Do not trade under stress! In a stressed state of mind you become re-active rather than Pro-active. Always maintain a positive attitude in order to have the confidence when faced with uncertainty. Do not act on impulse but instead adhere to your trading plan.
How do you know if you are in a psychological battle field?
- *You can’t follow your own rules
- *You can’t take a small loss- It just gets bigger
- *You can’t stay in a winning trade
- *Revenge trade
- *Compulsively trading against the trend
- *You can’t seem to learn from your mistakes
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