Traders, who from time to time have emotional challenges or problems in their trading career by no means alone, are. These challenges are part of business. Listen to your body and its signals - it always gives signs of bad habits. But may be some steps that will help protect you against each trader's own "Achilles five. Just look at the specific problem or challenge. For example, a trader may have the tendency to give a three-week return for the two days. Sometimes it is useful to identify the conditions that the previous period, when a trader becomes a "vulnerable". Does he feel himself kikuyu him, reaching new highs on your account? Or whether it was diverted events that took place outside the trade? Trader should learn to recognize the various sides of their personality that affect their trade, because these features will never go away.
In the end, we are not robots - we are real people. But when we can recognize the patterns of feelings and emotions that we feel, before they started to bring trouble, we are less likely to make a deal, which is not part of our game plan. Keep trading plan every day. He is insured from entering into spontaneous transactions. It also protects the trader from the use of inappropriate strategies for the day, reminding him that the market is changing from period to period of development trend of variability. Trader can identify in advance the type of the period in which it is located, and be prepared to apply the appropriate strategy for the day. Traditions and rituals are the tools in order to remain prepared in the present and can help protect the trader's conduct consistent with his trading plan. Everyone needs tools to create structure and order in the otherwise very abstract game. Maintains records, such as the logical background of transactions, statistics or market indicator, is an excellent means of discipline, which helps to remain consistent. Also effective tool is a set of small goals every day. Such a goal might be to have a winning three consecutive days, or a clear plan to follow the trade during the day. This also may be - do not enter more than three transactions per day and to refrain from exceeding the trade regime. Or, open position in each five-bull or bear flag that formed. The small trader's goal should reflect his own style of trading, the needs and weaknesses.
Trader should learn to distinguish between errors caused by the market environment and the voluntary mistakes that he makes himself. He should avoid doing on the efforts, if the current market environment is unfavorable, or his normal style of trading is not suitable for current conditions. A good way to correct behavior is to always think about the desired result. Write it next to the trading screen. Read it every morning.
Each time a trader is going to take any action, it must ask itself whether it has its desired goal. It should provide a sense of victorious after short-term goals and overplay this feeling many times in their minds as motivation. It is very clear to imagine that the goal is related to the market every day, not only in the long run. Traders should consider the possibility of a friend, a trader with whom they can share their daily results. Most traders will make a greater success if they would be responsible to anyone for the performance of their trade.
They are less likely to allow a big loss to get out of control. If their reasoning harm, at least, there is someone else who can draw their attention to the fact that a trader deviates from its plan or may be in need of a break. Dude on the trade - this is not the one who offers advice on the market or in relation to specific transactions. If the trader feels the need to ask anyone's opinion on the council or the market, it is sure sign that he should not be at this point in the market. Dude should be the same coach who can lift the mood, or enhance, if necessary, motivation, or to serve a foreign party to indicate when a trader is in the destructive behavior of the commercial, which ends with a long recession. Markets can change quickly enough. Less biased trader can be more easily adjusted to the environment. If he starts to develop a bias that is not accompanied by technical factors, but due to emotions or weakness of the discourse, the signals of his body most likely did not tell him. Most professionals know when they are in a bad deal and they know when they make a mistake. The more the trader makes transactions, and the more experience he gets, the sooner he will learn to recognize their own personal traits, which indicate that he really is in a bad deal, irrespective of whether their level of stop-order or not.
As long as the trader is able to benefit from this knowledge, this is another excellent reason to always have placed a stop order on the market! It is equally important that he remembered how his body feels when it is under control and has a winning attitude. The best traders go a step further and added to a winning position. The green light is lit! The foot on the gas! This concept is as important as learning to recognize when a transaction is not working.
In the end, we are not robots - we are real people. But when we can recognize the patterns of feelings and emotions that we feel, before they started to bring trouble, we are less likely to make a deal, which is not part of our game plan. Keep trading plan every day. He is insured from entering into spontaneous transactions. It also protects the trader from the use of inappropriate strategies for the day, reminding him that the market is changing from period to period of development trend of variability. Trader can identify in advance the type of the period in which it is located, and be prepared to apply the appropriate strategy for the day. Traditions and rituals are the tools in order to remain prepared in the present and can help protect the trader's conduct consistent with his trading plan. Everyone needs tools to create structure and order in the otherwise very abstract game. Maintains records, such as the logical background of transactions, statistics or market indicator, is an excellent means of discipline, which helps to remain consistent. Also effective tool is a set of small goals every day. Such a goal might be to have a winning three consecutive days, or a clear plan to follow the trade during the day. This also may be - do not enter more than three transactions per day and to refrain from exceeding the trade regime. Or, open position in each five-bull or bear flag that formed. The small trader's goal should reflect his own style of trading, the needs and weaknesses.
Trader should learn to distinguish between errors caused by the market environment and the voluntary mistakes that he makes himself. He should avoid doing on the efforts, if the current market environment is unfavorable, or his normal style of trading is not suitable for current conditions. A good way to correct behavior is to always think about the desired result. Write it next to the trading screen. Read it every morning.
Each time a trader is going to take any action, it must ask itself whether it has its desired goal. It should provide a sense of victorious after short-term goals and overplay this feeling many times in their minds as motivation. It is very clear to imagine that the goal is related to the market every day, not only in the long run. Traders should consider the possibility of a friend, a trader with whom they can share their daily results. Most traders will make a greater success if they would be responsible to anyone for the performance of their trade.
They are less likely to allow a big loss to get out of control. If their reasoning harm, at least, there is someone else who can draw their attention to the fact that a trader deviates from its plan or may be in need of a break. Dude on the trade - this is not the one who offers advice on the market or in relation to specific transactions. If the trader feels the need to ask anyone's opinion on the council or the market, it is sure sign that he should not be at this point in the market. Dude should be the same coach who can lift the mood, or enhance, if necessary, motivation, or to serve a foreign party to indicate when a trader is in the destructive behavior of the commercial, which ends with a long recession. Markets can change quickly enough. Less biased trader can be more easily adjusted to the environment. If he starts to develop a bias that is not accompanied by technical factors, but due to emotions or weakness of the discourse, the signals of his body most likely did not tell him. Most professionals know when they are in a bad deal and they know when they make a mistake. The more the trader makes transactions, and the more experience he gets, the sooner he will learn to recognize their own personal traits, which indicate that he really is in a bad deal, irrespective of whether their level of stop-order or not.
As long as the trader is able to benefit from this knowledge, this is another excellent reason to always have placed a stop order on the market! It is equally important that he remembered how his body feels when it is under control and has a winning attitude. The best traders go a step further and added to a winning position. The green light is lit! The foot on the gas! This concept is as important as learning to recognize when a transaction is not working.
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