Monday, 25 September 2017

Why A Trading Mindset Is So Important

Trading Mindset

When trading it's so important to have the right mindset.

In fact it's vital if you want to succeed and make serious money.

After all, if you have a plan and follow it, you will be successful - Won't You?

If that's so, why are more traders not successful?

Well it's down to mindset and emotions.

Mistakes traders make include:

Giving in to emotions

Emotional trading is a very bad habit to have and must be conquered. It leads you astray and makes you irrational.

You will lose money and this fact compounds the problem. Having a plan, going with the plan and not being tempted to tinker, fiddle and override the plan will win out in the end.

In my early trading days I fiddled and tinkered with trades when it started to get a bit hairy - and they have always lost money. I no longer interfere with the plan. 

No Patience

The reason most people want to get into trading is to make money, lots of it. However most schemes seem to offer an instant path to riches. Sadly it’s not so easy.

It takes time for a trade to make some real pips and hence make you some real money.

It can take hours, days or weeks for a trade to close out depending on the timeframe and style of trading. Now there are traders scalping the markets for a few pips and doing it many times a day but these are seasoned professionals who love spending time at their trading terminal grabbing a few pips here and there.

Most beginners should keep well clear of these strategies and stick to the longer timeframes. It takes a lot of patience to wait days or weeks for a trade to close but all the time its slowly clocking up profits.

My T6 trading strategy I mentioned last time will show the right way to trade the Trend and longer time frames. Keep a look out for it.

Free Download

I've sourced just for you a Mindset E-book to help ensure you have a mindset ready to trade (worth $30 (£23)) you can download it today and I think you will find extremely useful. It's absolutely FREE to you (please don't share it).

Click here to to grab your copy (along with my E-Book "Forex Trading For Beginners)" 

Get ready to learn how to improve your mindset and get more done in a short time period and a bunch of tips I’ve learnt over many years of trying to minimize the time I spend working!
It’s much easier than you think.

You’ll find out:

  • How to stay positive at all times
  • How to reduce the stress you feel each day
  • How to prepare your mindset for success
  • How to set and achieve your short and long term goals quicker
  • How to minimize the chance of you having a breakdown
  • How to relax when you get the chance
  • How to take control of your destiny
  • How you can use techniques to calm yourself
  • How to can use a strong mindset to propel your success
  • ...and much, much more!

Click here to to grab your copy (along with my E-Book "Forex Trading For Beginners)" 

Emoticon Emoticon