Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

analyst75

A Trader’s Attitude Makes a Difference!

Recommended Posts

“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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Topics

  • Posts

    • $SIG (SIG) Signet Jewelers stock nice bottom breakout above 40.8,



      analysis http://chart.st/SIG
       
    • $CLSD (CLSD) Clearside Biomedical stock bull flag breakout watch,



      analysis http://chart.st/CLSD
       
    • $QURE (QURE) uniQure stock flat top breakout watch,



      analysis http://chart.st/QURE
       
    •   Date : 23rd May 2018.

      MACRO EVENTS & NEWS OF 23rd May 2018.



      FX News Today

      Asian Market Wrap: Long yields declined as risk aversion picked up and stock market retreated in Asia. The 10-year Treasury yield is down -0.9 bp at 3.050%, the 10-year JGB down 0.4 bp at 0.037%. Stock markets headed south, with Japanese markets underperforming as the yen advanced and the focus returned global risks including the U.S.-North Korea summit and Turkey financial market stability. Nikkei and Topix are down -0.64% and -1.14% respectively. The Hang Seng lost -1.02%, the CSI 300 is down -0.84%. U.S. futures are also heading south and oil prices pulled back from highs over USD 72 per barrel and it is trading at USD 71.92. European stock futures are declining in tandem with U.S. futures after a largely negative session for equities in Asia overnight. The good news for the Eurozone is that peripherals have so far not been hit and the Italian 10-year yield is down -2.4 bp, the Spanish down -1.5 bp in early trade. The calendar has Eurozone PMI readings, as well as U.K. inflation data, a German Schatz auction and the U.K. CBI retailing survey.

      FX Action: The yen outperformed as risk aversion flared up in global markets, while the dollar, outside the case of USDJPY, traded mostly firmer, gaining ground on the euro, sterling and dollar bloc currencies, for instance. EURUSD settled back in the mid 1.1700s after yesterday’s recovery gains stalled above 1.1800. EURJPY dropped sharply, to an eight-day low at 129.70, while USDJPY posted a four-session low of 110.37 in Tokyo, extending the correction from Monday’s four-month high at 111.39. A risk-off sentient, supportive of the yen in accordance with the typical correlative pattern, came amid a cocktail of geopolitical concerns. In the mix was U.S. President Trump saying that that there was a “very substantial chance” of the North Korean summit being delayed. The recent dive in the Turkish lira also mutated into a full nosedive in thin market conditions just ahead of the Tokyo session, posting fresh record lows. Concerns about excessive dictatorial control of Turkey’s economic policies have been negatively impacting the lira. In data, Japan’s March all industry activity index undershoot expectations at 0.0% m/m. The median had been for 0.1% m/m growth. Australian construction data also missed expectations.

      Charts of the Day



      Main Macro Events Today Eurozone PMIs – Expectations – Central bankers will watch this month’s round of confidence data with special interest and hopes that data will show signs that growth is recovering in the second quarter, after the slowdown in Q1 that was impacted by special factors. An effective stabilization is expected to be seen in Eurozone PMI readings for May and an improvement in the manufacturing reading to 56.4 from 56.2. The services reading meanwhile seen falling back to 54.5 from 54.7 RBA Gov Lowe Speech UK CPI, PPI & Retail Index – Expectations – CPI at 2.5% y/y and core at 2.2% y/y, which would match the prior month’s figure, which itself had undershot both the market and BoE expectation. The PPI is expected at 1% in April from -0.1% seen last month, while Retail Price Index expected at 0.5% in April from 0.1% in March. US Prel. PMIs – Expectations – Composite PMI for May expected at 55.0 from 54.9, while Services expected at 54.9 from 54.6. FOMC Meeting Minutes Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

      Please note that times displayed based on local time zone and are from time of writing this report.

      Click HERE to access the full HotForex Economic calendar.

      Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

      Click HERE to READ more Market news.

      Andria Pichidi
      Market Analyst
      HotForex

      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • ⚑ A racing lesson with Tio Ellinas himself at Silverstone
      ⚑ Paid flight tickets for two to the UK
      ⚑ Paid hotel accommodation & transfers From my place SEA, the flight tickets are 1k5$. Accomodation + Transport + F&B for 3 nights = 2000$. I think this is around 5k$ cashs.
×

Important Information

By using this site, you agree to our Terms of Use.