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Rose K.
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Why Traders Continue to Fail - When They Are Trying Hard Not to Lose
Rose K. replied to Rande Howell's topic in Psychology
When traders are successful, they practice a patient discipline where they calmly lie in wait (ambush really) until the market comes to them – and then they strike. How different this is from our vignette at the beginning of this article! His trading is based on urgency while successful trading is based on patience. The notion of work is different between the two. Rather than work with urgency to action to achieve a goal, work takes on new meaning to the evolving trader. The new paradigm becomes patient observation, allowing the conditions to come to you. The trader is no longer chasing the trade (an urgency mentality), but is waiting for the trade to come to him so he can strike. This is the successful mind built for trading.....this is indeed the bitter truth about trading in currencies as well as other business ventures. Patience pays and it pays big time at the end of the day
