Skip to main content

Yum! The Seasoned Trader Feeds on the New Trader.

 If you’re a new trader, you’ve got to pay your dues. 


Seasoned traders know this and that’s why we love you so much. Look at your charts, mimic the experts, and buy those expensive traderecommendation newsletters. (ahaha this one is fav)

Dream your dreams. 

But PLEASE just keep trading, because as you trade, we’ll be on the other side, putting YOUR cash into OUR pockets. 

I’m not kidding. 

So the thing is, you don’t want to stay a “new trader” for long? (there are many ways to it few maybe getting mentored and mentioned below )

 

What is a “new trader”? 

A new trader, the way I refer to it here, is either someone who has just begun trading and has yet to make the mistakes of a beginner, OR someone who keep making the beginner’s mistakes over and over again and never learns. 

Most traders that I’ve come across over my 4 + years as a trader and  (More than 1 year as a “new trader” and 3+ as a “seasoned trader”) have never gotten out of the “new trader” category. 

 

It’s hard to transcend. 

To some, it’s impossible and they wind up walking away blaming the “volatility” or the “institutional traders” for their failures. 

 

OK, here’s the key to taking the leap from newbie to successful trader: Your mental discipline. 

The fact is, the beginner who’s done his/her homework before trading is (largely) using the same indicators and techniques that the successful trader is using. 

The difference is that the successful trader is IN CONTROL. 

The “new trader” is not. 

The beginner is controlled by emotions and fears and has not learned… I mean REALLY learned… that trading the market is a math game. 

 

It’s an exercise in probability and statistics and you must keep the odds on your side, even if, from time to time, it hurts. 

If you’ve back-tested your system properly… if you’ve followed your guru’s past recommendations carefully… and you’re ready to start trading…then you have one job and that is to follow your system like the IceMan. 

 

If, over your chosen period of time, the system is not working, then change the system. Never change your commitment to following your system to the letter once you’ve decided to trade it. 


All this is MUCH easier said than done. 

Fears and emotions can easily overtake you. We’re humans, not machines. 

You must TRAIN your mind to be disciplined. That’s what seasoned traders do. 

They train their minds because they know that habit patterns are simply neuro-pathways that are etched into your brain... AND…   When one identifies a poor trading habit (and you know who you are) all that needs be done is to train your mind to create a new neuro-pathway to replace the old one. 

It’s science, man, just science. 

A good trading system and the mental strength to commit to and execute the signals that system gives you is the way of the seasoned trader. 

Most seasoned traders won’t actually tell you that. 

Why? 

Yum, yum!

FILTER THE NOISE AWAY FROM TRADING

Personal Training : 9773770675

Labels:

Comments

Post a Comment

Popular posts from this blog

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...
Post a Comment
Read more

The Greatest Trading Book – Ever!

  If you‟ve noticed the small number of pages in this blog, you may suspect that this is not the Greatest Trading Book – Ever! And you‟d be correct. But don‟t worry; there‟s a simple explanation. This blog will explain exactly how you can create The Greatest Trading Book – Ever! You see, it‟s not a book you can buy. It‟s something you create. Let me explain…
Post a Comment
Read more

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...
Post a Comment
Read more