Traders fail for many factors, but some fail because of the time frames or the indicators or markets. Most traders fail because of their psychological idea to trading. Most fresh traders fail to become victorious at trading for the same 10 reasons. By being alert of these psychological traps, you can reject them.
Many traders start trading that it is simple. They think trading must be simple because price either goes up or it goes down. Anyway, price can also go flat, or move only enough to prevent the trader out at every turn.
Trading is a job. Like any profession, trading needs both skill and knowledge. Knowledge can be gained from books or internet, but skill can just be gained by experience. Like most professions, the trader cannot learn everything they need to understand from a book. Trading is lot like the health profession. First, the trader has to learn the methodologies and then he has to learn to apply the skill gained on the live edge of the market. Only on the live edge of the market, can a trader grow skill in applying the knowledge they just got through study.
There is no shortcut. A collapse to learn the methodology, the collapse to design a business idea, or the breakdown to address your short-coming will just guarantee collapse. On the other hand, designing a business idea, learning the methodology, and selecting to address your little comings, puts you squarely on the road to becoming a thriving trader.
At McxNiftyTips.com we provide strategies and guidelines for trading to all Premium Subscribers. We suggest to master this simple strategies for making profit in market.
What makes you so unique that you feel entitled to success? Have you done the job? Have you spend countless hours studying technicals of market? Do you really trust that the markets care about you, your status and your money? It does not. The markets have crippled many traders and you are not different. When you sit in front of your PC you can trust one thing – the market will do whatever it wants to perform and, if that means blowing you away, it will. You must learn to approach the market with caution and respect and to realize that the market is unfriendly to you and to your thoughts about it and hopes of it.
This is the reason we suggest all traders to do Paper Trading for few days before trading with actual money.
You are afraid, simple and plain – so is every other trader. The difference between a trader who is losing and one who is succeeding is that a winning trader does not permit fear to overcome him. A winning trader sees fear for what it is – a feeling that is fully general. After deliberately acknowledging the fear that they are feeling, a winning trader will move on and perform what needs to be done. By permitting fear to overcome him or her, the failed trader will sit paralyzed, not capable to make a move in any direction.
How to overcome Fear ? Fear serves a vital objective in our thought processes. It is the initial step we take in issue solving. So, what is it you are so afraid of what is the bad case scenario of any trade? When we write down our ideas and thoughts, it begins us on the road to thinking and planning. By establishing a procedure where we think the problems that a fear brings before us and by planning on how to react in a functional way, we can identify issues before they happen and make sure that we know what to do when they happen. By having a plan in place to address problem before they happen, we diminish the power that terror holds over us. By acknowledging a terror and then deciding what to do about it ahead of time should the danger become a reality, know that we can perfectly move past the fear. By this procedure, we become less afraid and more functional.
Negativity causes negativity. The factor is simple – your subconscious mind jobs to fulfill your wishes. Your subconscious mind is a true servant to you and to your thought procedure.
If you believe you are going to lose, your subconscious will make sure that you do lose. Think you are going to down, your subconscious will offer failure.
How to overcome Negativity As a trader, it is vital to your victory to know and understand what is that you exactly trust about your own victory as a trader. Think you are going to be a victor and your subconscious will mechanically seek ways to make you a winner. Think you are an expert trader that adheres to a harsh mythology, and your subconscious will seek ways to make sure that you are one.
One of the factors to have a trading plan is that you don’t have a lot of analyzing to perform on the live edge of the market. On the live edge, the replies should be little easy: either “yes” or “no”. Sure, you take the trade because XYZ happened or No, you do not take the trade because XYZ did not happen. On the live edge, stop analyzing and begin trading your idea. The victory trader knows when to analyze and what to do.
Read Part 2 of this article at below link