10 things that a trader has to overcome to stay calm and be profitable

Impulsiveness
-Replace impulsiveness with proven rules that filter emotions into the correct actions.

Impatience
-Replace market noise and emotions with quantified entries and exits based on signals.

Anger
-Replace animosity towards the market with respect for price action and emotionless trading.

Uncertainty
-Accept the randomness of short term results and embrace the long term edge.

Laziness
-Reduce stress by doing homework when the market is closed so you can be ready when the market is open.

Greed
-Replace the need for immediate wins with a process for consistently growing capital.

Fear
-Replace your fear of failure with confidence in your system and your ability to follow it successfully.

Ego
-Replace your need to be right about specific trades with the desire to make money.

Hope
-Replace the hope that a losing trade will recover with a well-planned stop loss.

Stress
-Reduce stress by choosing to have small losses fast instead of big, slow losses.

＞＞＞Profitable traders are rarely overstressed. Emotions are natural, they’re part of being human. It’s the way we manage them that makes the difference. The egomaniacs and the gamblers are usually the ones that lose it all. A good trader is a business person and not a gambler. They see risks and rewards, profits and losses, divorced from their egos and emotions. The calm traders are the ones that keep a level head and maximize opportunities when the market presents them. They have mastered the art of being patient, trading small, staying calm, and trading profitability.

DO YOU WANT TO BECOME A CALM AND GOOD TRADER ? CHECK SEPTEMBER PROFIT AND LOSS BELOW AND WAY TO BECOME ↓↓↓

EQUITY ACCOUNT - 85% OF TRADES TAKEN WERE SHARED ON THE FREE GROUP ALSO

WHATSAPP - 9773770675

Comments

The Force is Within You, Luke. It’s Not the Trading System.

There are only a handful of people who give a darn about supplying traders with a way to be more disciplined and focused in their trading. I’m one of them, so I think I know why there are so few of us. Heck, I’m in the business of supplying traders with a tool to help improve the mental side of the trading equation… the “human” element. With (what I think) is such an important service, why am I out here virtually alone? For a couple of reasons. First, although most traders will admit that the mental part of trading is key to winning in the long-term, most believe they can “gut it up” and just “shake it off” when negative emotions and behaviors rear their ugly heads. They don’t need a shrink! They know what they need to do and by-cracky, they’ll do what needs to be done without any help! I call this the Macho Syndrome And what’s funny is… I get most resistance to the notion of mental discipline (as formal training) from those t...

THE 25 - POINT MANTRA DISCIPLINE FOR DAY TRADING

The Wheel of Success in Trading There are three spokes that make up, what I call the Wheel of Success as it relates to trading. The first spoke is content Content consists of all the external and internal market information that traders utilize to make their trading decisions. All traders must purchase value-added content that provides utility in making their trading decisions. The most important content being internal market information , which is simply time and price information as disseminated by the exchanges. As we are making our trading decisions in present time based on time and price, In order to "scalp" the markets effectively, we must have the most live up-to-date information . The second spoke is mechanics Mechanics is how you access the markets and the methodology that you employ to enter/exit your trades. You must master mechanics before you can enjoy any success as a trader. A simple keystroke error can result in a loss of thousands . A trader can ruin his e...

Pre Stock Market Report, September 07, 2020

Pre Stock Market Report, September 07, 2020 US markets went for a roller coaster ride on Friday. Apple opened 1% higher, then went down 9%, then recovered entire losses of 9% to close positive. Tesla also the same, fell 8% and then shot up 11%. Asian markets are mixed. US futures are also mixed. One good thing is that US markets are closed today. In last one week, Nifty saw two sharp sell off. Last Monday, from 11800 to 11350. Last Friday, from Thursday's close to Friday's low, it was about 250 points SGX Nifty hit a low of 11240 on Friday night. FIIss have sold for Rs 1889 crores and DIIs have sold for Rs 457 crores. After a long time, both FIIs and DIIs have sold heavily. That is really a bad news. Nifty closed below 20DMA. U.S Markets are closed today so market should focus on local cues. As we will get direction from local Factors only. Markets are looking weak now. One side of the Economy front everything is turning negative. But Markets kept rallying. This was only becau...

WiseMan Trading

Search This Blog