http://www.netpicks.com/2-trading-tweaks/ - Read more
We have all heard and probably experienced that your mind can be the deciding factor in your trading success or failure.
Some will go as far as saying that the edge you really have is yourself regardless of your trading system.
There are quite a few instances where the same method and same instructions were given to a group of people but the results were varied.
That should give you pause to think that if you have a positive expectancy trading method and are not finding success, the issue just might be you.
How you look at losing trades, winning trades and even missing trades can sometimes make the difference between long term success or failure.
Trade Plan Is The GPS
Once you believe that trading success is in large part dictated by how you think and act, you can start taking steps to address that.
That’s not to say the method is not important because it certainly is but even if you give a group of people the holy grail, most will still not be successful.
There are simple things you can do help combat the many psychological issues that arise when trading.
One extremely important one is to have faith in your trading system that in the end, after a steady stream of trades, the positive expectancy will deliver an up sloping equity curve.
To put it in a different perspective, let’s look at a driving analogy.
You know where you want to go and the GPS gives you precise directions to get there. It’s the same route you have taken many times in the past and even though you have arrived later due to traffic, you eventually meet your destination.
What if during a busy weekend you decide to venture off the proven track due to congestion and decide to wing it.
Not only that, but so sure that you knew your direction, you’ve decided to leave the GPS at home because after all, you’ve traveled it so many times before.
- See more at: http://www.netpicks.com/2-trading-tweaks/
http://www.netpicks.com/tjlivewebinar - See Our Trading Systems In Action
Licence : All Rights Reserved