Psychology Of A Professional Trader (Part 2)
I must say that what kept traders from getting to the next trading level was their inability to approach the market without a bias.
You probably knew that was coming – not reading anything stock market related either prior to taking a trade or after you are already in one.
If information offers you a choice that would reinforce your trade or information that does not reinforce your trade – which would you follow?
You would naturally gravitate to the information that supports your trading decision not realizing that price – the true indicator of what is happening in the market – may be telling you otherwise.
Remember that the stock market has its own rhythm and while trading is never 100% accurate we can learn to stack the probabilities of success in our favor.
What things can we do to stack those probabilities in our favor?
- Make sure to align the proper style of trading with your timeframe. For example I have a trading style where I can profit from the market prices going up, down or even when you get the direction wrong. This hands-free trading method is ideal for individuals who do not want to be involved in the day to day monitoring.
- Trading without fear is not the same as being “fearless” in trading. Trading without fear simply refers to not being concerned with the outcome. The way to trade without fear is to trust the strategy you are participating in. How do you trust the strategy? You have already virtually traded sufficiently to recognize that a losing trade or two will not define the entire strategy. The strategy will go out of sync with the market and when it resumes will more than make up for the time period it was out of sync! The key is not to give up.
- Feel positive about yourself, your efforts at success and you will attract all that you are seeking from the Universe.
Attracting Trading Successes
The mind is an amazing and powerful tool.
Nothing can exist without it first being a thought.
Remember too that the Universe responds to positive and negative thoughts equally. So given the choice don’t we want to make sure that our thoughts are always positive?
Remember that I am saying our speech or that which we talk about. Of course what we talk about can impact how the Universe responds, however I am saying what we think about. That has the greatest impact in our lives.
Once we learn to master the positive energy of our thoughts we can live amazing, prosperous and healthy lives.
The Universe conspires to make sure that we get everything that we think about – so make it good!
Just remember that when the Universe begins to respond to your positive energy the amount of time that it appears to have taken for us to see results will be a very distant memory so make sure to stay positive, decide to succeed and never give up – it is a Universal Law![/text_block]