What do experienced and successful traders, and you do not? Do they know something that you do not know? They have a secret, available only to a narrow circle of persons information?
Or maybe they use some kind of super strategy that you have not yet discovered? I bet you do not just asked yourself similar questions.
For many traders constant income and high income are something mystical or unrealistic, some kind of a mystery, and no matter how you trade - a week or a few years.
The only valid question that you should ask yourself: "How professional traders think." Because the main reason for the success of professional traders is just thinking outside the box. Nevertheless, it is necessary to realize that the understanding of the market and the correct way of thinking are not the only factors that make you a profitable trader.
In today's lesson we will go on an interesting journey through the complex maze of mind of a successful trader. I'm going to share with you, we need to think in order to succeed in the ultra-competitive and extreme game we call trading.
Traders monitor itself, not the market.
A successful trader gives a chance to the market to come to him. He does not cling to every opportunity, trying not to be always in the game and not force events.
Professional waiting for the most favorable conditions, fully satisfying its trading strategy or style, and only comes into play. If the market is not sufficiently similar formations or criteria inherent in its strategy, an experienced trader will not trade.
A professional trader knows that he is looking for on the market, as it should be studied and spent a trading strategy. He will be careful, leisurely. In other words, he knows that success in trading is patience, rather than quick response.
An experienced trader plan their trade and deal in advance, following the trend, said key levels and as a result of patiently waiting for a clear signal to enter the position.
Thus, you allow the market to come to you, instead of trying to make money from scratch.
It is important to note that professional traders know and understand that the market would give them some very good and clear signals in the month, which with high probability will be successful and will bring profit.
Their operation is, in fact, lies in the scanning and analyzing daily schedules, the analysis must be as objective as possible.
After learning his trade strategy in full, you will begin to anticipate and plan their transactions as a professional. I tell you that every successful trader knows in advance that he is looking for and what will seek, and know even before they open their daily schedules for viewing.
When you learn to consider the trade with this point of view, you will be more calm and relaxed, because you will not feel as if obliged to trade.
You will know that if there was a signal or necessary formation, you are in the game, if there is no signal, you return to the charts tomorrow and check again.
Emotions - the main enemy of success.
Emotions can be a serious problem. Professional traders know and understand it. Excessive emotion in the conduct of trade is the fastest way to a zero deposit. It is human nature to feel anxiety, emotional pain and pressure when your hard earned money at stake.
Therefore, professional traders attached great importance to control emotions. Curb your feelings requires some effort. You will have to learn this, otherwise you will lose a lot of money ...
The most effective way to keep your emotions under control is the awareness of the potential risk. Every time you open a new deal, clearly defines the potential losses and follow this rule. You must determine how much money you're willing to lose a dollar in a single transaction, and at the same time, not to disturb his emotional balance.
Regardless of the outcome of the transaction - the gain or loss, you should not be happy or upset. The only way to do that (keep emotions) - to determine in advance the level of trading risk and profit.
Successful traders operate with confidence and firmness, they do not guess your trading decisions, and simply follow the algorithm hours worked according to plan - know what to look for, know what to expect.
Experienced traders know that a series of transactions may contain different distribution between profitable and unprofitable transactions, and to see the profitability of a strategy, it is necessary to use each signal, and not act selectively.
Thus, a professional trader mean by success is not only the amount of money earned, but also the implementation of a trading plan, and compliance with the trading strategy as a whole.
Professional traders always follow its strategy.
One of the peculiar qualities or inexperienced traders losing is absolute certainty about where the market will go next. They are "certainly" know what will happen in the next minutes or hours.
This is, perhaps, the only logical explanation for why inexperienced traders continue to hold on to their transaction through. Even if the market goes against them, they are averaged and they think that the price has become more profitable.
In fact, no one knows, and even more can not be one hundred percent sure about what will happen with the market in the near future - that's a fact. We can assume, to make predictions, but to ensure "certain" a certain outcome of the transaction, alas, no.
An experienced trader understands this, and is ready to accept defeat, to try to make a good deal at other times, the lover will defend his point of view, to the last cent.
Professional traders make and carry out transactions virtually without any interference. They know that the market will behave as always, it will be a storm, quotes will then fall, then rise and the pressure to grow with each passing hour.
But at the end of the day a professional trader understands a horse he or a horse, and in most cases it will not keep the deal, if you do not feel it building, and the schedule does not draw the necessary formation.
Of course, there are reasons why a trader can exit the trade early, but usually experienced traders simply put a pending order at a reasonable price, and forget about it, is that their trading mentality.
In 70 cases out of 100 professionals simply let the market do its job and carry them down the river. But for this to come, you can not take and do it mechanically. Just open a transaction at random and wait until it reaches the stop or take profit - the wrong approach, such trade will eventually lead you to losses.
I understand that, most likely, you are already experiencing feelings that interfere with your trade and you take away the profits. As often it happened that after you have closed the deal in the red, the price was unfolding and moving in your direction?
There is nothing worse than to realize that you were right, but failed to finish the job. Businesses have long learned this rule, so they do not watch their transactions 24 hours a day. An experienced trader knows that it is objectively, rationally and logically assessed the market situation.
Stress and tension experienced by the lover, eagerly watching the progress of the deal are unknown professional, calmly waiting the outcome of planned operations.
Your trade thinking determines your style of trading.
What do you think about trading and during trading, in the end, it becomes your habit or your proprietary trading style. If you think you can avoid damages and losses, it is your attitude to the stop level changes dramatically.
You can remove them, averaged or no use. If you think of the market as a cash machine, executing your desires and issuing money is the first request, it will probably break the rules of money management - trade in large volumes and actively use leverage. It is clear that such an attitude to the good will not lead, your capital can go to the dogs in the twinkling of an eye.
Successful traders have a respect for the market. Do not assume that all are aware of the market, think more about the potential risks, rather than profit. Watch out for the formation of the classical model, plan what you will do before you do it, then you will not have any surprises. Act so as to develop a habit peculiar to successful and experienced traders.
Do not tire of repeating - patience is one of the main characteristics inherent to professional traders. They predict the deal and make a plan of action long before they start to trade, should develop a clear strategy and never doubt in their decisions.
Pay attention to the general management of capital, regardless of the amount of money earned and successfully closed transactions. Time, personal experiences and learning from the mistakes will eventually lead to increase your efficiency, but only if you develop the right habits of thought described above.
