YES YOU CAN LIKE OTHERES DID>>>>
STUDY HARD AND PRACTICE FIRST
today’s lesson we’re going to try to figure out if YOU behave more like a TRADER or a GAMBLER in the Market.
Sounds fun...doesn’t it…
Ok...well some of you probably already know YOURSELF well enough to know the answer, but in any case, it will certainly help you to read the rest of this email as well…
First lets break it down a bit, and compare the difference between the two mindsets…
Firstly let consider the Professional Trader Mindset….
These traits belong to Professional Trader….
--Mastered a Sound and Effective trading strategy
--Uses a Trading Plan
--Is Fixated on Risk Management above all else
--Always trying to Improve the Process
--Trades and follows his strategy/system
--Does not become emotional during or after a trade
--Considers their trading a business not a hobby
Now let’s turn our focus to the Gambler Mindset…
These traits belong to a Forex Gambler…
--Follows a strategy without a statistical edge in the market
--Trades from the Hip...based on Gut feelings
--Primary focus is on Potential Profit rather than Risk
--Constantly switching from one strategy to another
--Is too emotionally tied to each trade
--Cannot cut losing trades..until the pain becomes unbearable.
--Overtrades because they feel they are missing out
So there you have it….
Which one of these best describes YOU?
If you are acting like a Professional Trader in the market...then hats off to you...You are on your way to consistent profitability…if you’re not there already…
If, however, you are acting like a Gambler...then YOU need to check yourself….take some time off…..Reflect on this for a bit Study hard and practice in Demo….and come back….and work on creating the proper mindset required for success in trading… YES YOU CAN LIKE OTHERES DID>>>>
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