Wednesday, July 16, 2014

The three stages to becoming a successful trader

       

§  Your ability to execute your trades is a function of the amount of fear you generate or the lack of it.  Fear is always the result of your beliefs about the threating nature of the environment.

§  Essentially, what you fear is not the markets but rather your inability to do what you need to do, when you need to do it, without the hesitation.

§  If you can’t execute your trades properly, even when you perceive the most perfect opportunity, it is because you have not released yourself from the pain contained in the memories of past trading experiences and because you still don’t trust yourself to act appropriately in any given set of conditions.

§  You were either immobilized by the fear of failure or you are struggling with a belief (value) system that say you don’t deserve the money.  Otherwise, you would have acted on your perception.

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