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analyst75

A Trader’s Attitude Makes a Difference!

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“Acceptance is a good state for trading because at this level you can accept losses and profits — both of which are a regular part of trading. In fact, acceptance of small losses is critical to successful trading.” – Dr. Van K. Tharp

 

WHAT’S YOUR ATTITUDE TO TRADING CHALLENGES?

Michael: “I put so much effort and time into my trading, and still didn’t get it right! I’ll never succeed at trading. No matter how hard I try, it’s never good enough. Why do I even try?”

 

Akin: “I can see that I’m making some progress in trading, but I made some embarrassing mistakes. I’ve learned some valuable lessons that will make me do better next time.”

 

Questions: 6 months from now, which one would be a more competent trader Michael or Akin? If you want to have a good trader as a friend, which of those two men would you be more likely to keep? When you face frustration in trading, how do you react?

 

Sade is fed up with trading and she refuses to take steps that can make her improve. She reasons, “Why should I waste my time on a career that gives me nothing in return?”

 

Michelle makes concerted effort to be a good trader and to help other traders, whether she makes profits or not. She takes to heart the Golden Rules of trading, for she believes they work. For Michelle, trying to be a better trader brings rewards with the time.

 

Questions: Which of these 2 women did you think would be successful as a trader? Which one would have better results in future? Are you like Sade or Michelle?

 

WHAT CAN YOU DO?

Avoid Pessimism: Pessimism will sap you of the strength you need to improve your trading and help deal with the challenges. Your outlook and attitude aren’t set in stone. You can be made “new” in your thinking (and ongoing process).

 

Focus on the Positive Aspects of Trading: If you see everything about trading negatively, you will feel “afflicted” and every day will appear “bad” or gloomy. But if you focus on positive things in trading, you will have a “cheerful heart” and even feel joyful. The choice is yours. Occupy your mind with encouraging subjects on trading.

 

Do Things to Help Other Traders: Look for opportunities to be self-sacrificing when it comes to helping other traders who need assistance. I haven’t totally put aside my long-term goals. But I’m focusing on the smaller goals I can reach now. When discouraging thoughts creep into my mind, I reflect on the many reasons I’ve to be a happy trader.

 

If you’re dealing with negative trading circumstances, please ask yourself: Is the situation really hopeless? Have I reached a dead-end or is this merely a road-block. Learn to keep negative thoughts out by concentrating on something constructive in your career.

 

Conclusion: Care for your attitude toward trading in the same way you would cultivate a garden. Root out the poisonous weeds of pessimism and negativity. Sow seeds of realistic optimism, and fertilize your life with actions that produce positive emotions. You will reap emotional crop that will make your trading career much more rewarding. And it will confirm that a trader’s attitude makes a difference!

 

This piece is ended with the quote below:

 

“The only Forex trading tricks recommended are simply patience, self discipline and applying strategies that will allow you not to take big risks.” – Painofhell (Source: Einvestorsforum.com)

 

Copyright: Tallinex.com

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Sure... the road to success is paved with peace, love and happiness. Feel good about yourself... stay positive. Great words to live by; if you work for someone else.

 

Get hard, get real... do the right thing everyday. It has nothing to do with "positive thoughts".

 

Say it again...

 

Get hard, get real... do the right thing everyday. It's much more than showing up for work with a positive attitude...

 

Say it again...

 

Maybe I can; maybe I can't but it's on me either way. This is not "positive"... this is "neutral". Either it is, or it isn't. That is what you need to take responsibility for, not positive thinking.

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    • Hello! I'm afraid there is no such thing, personally I have been trading live for 15+ years now, lost a bunch and won a bunch, and I can say that I'm still learning, and I probably will never stop learning because the markets are so incredibly complex, if you ever meet someone saying he knows it all about trading, he is most definitely lying. but you are in luck. you don't have to know it all to be consistently profitable in the market, you just need to find that specific thing, what ever it will be, and that is the hard and time consuming part. Trading got to be the most complex and hardest profession you could ever learn, I believe there are no shortcuts, the professional traders, banks, hedge funds etc you are trying to extract money from, and "consistently" are people making millions of dollars in a year, I'm sorry but I don't know of any method or course where you can learn to beat those traders. seriously this question is ridiculous when you think about it, ( no offense) I probably asked the same question in a forum somewhere my self when I was starting out, somehow we don't ask our selves these things, it is like the greed are blinding us, if you want to be a trader with the ability to win consistently from the market, there is only hard study that matters, and I don't mean following something somebody else cocked up. that will only brainwash you with probably a messed up base knowledge, and this is bad because as you probably know it's hard to teach an old dog, that is because the unlearning is so hard, avoid other traders ideas, don't even read about it. it will affect your brain subconsciously to mess with your decisions in the future, things you read will probably will be 99% garbage anyway. except this post seriously ha ha , what I mean to say is, do your own thing, bring forth your own ideas, use your brain, test, trade, back it up with statistic and forward testing, this way you will eventually create your own trading strategy that suite you, and it will be something you can trade with confidence, the most hardest thing is to trade some others strategy because you don't have the confidence to trade it, you don't know why it supposedly will work or how, and you have no data to back it up, this will bring you a certain amount of doubt, and then your emotions will kick in and mess things up. on the other hand, if you trade your own stuff, you got the confidence because you know why things will work and you have the data to back it up. my tip is to begin with studying the behaviour of price it self, it is the only indicator you will ever need, price is reflecting all the traders emotions collectively, keep it as simple as you can, the more things and rules you add, the harder it will be to trade, if I would show you my strategy you would not believe me, it's that simple, (not going to though) and then you have your own emotions to deal with, that is a completely different subject but it goes hand in hand with trading. so not only do you need to master trading, you must master your own psychology as well. cheers
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