If you want to be a successful trader, you should make sure they do not deny reality in any phase of their trade. You can not deny losses, price direction, mistakes you make, are undercapitalized, or a whole series of things you would prefer not to think.
Many traders think that the best way to deal with unpleasant ideas, events, or defects of personal character is close your eyes and pretend it does not exist.
Let's face it, trading can be difficult, sometimes very difficult, it is essential that you focus on reality. Denial has its focus on the thing you need to concentrate on price action, regardless of time. Your mind must be clear so you can watch the market and see what is really there.
The way we learned to handle denial was to simply write down and address all possible ideas I had trouble accepting. Some reflections that could fix and others who simply had to accept. But faced with the truth of what and who you are is the only way to deal with denial. You have to realize that most of the only things you can change yourself. Other things you just have to accept. We must accept the reality of slipping, for example. You have to realize that indicators often give false signals and there is no magic moving average nor a magical oscillator.
You have to realize that some winning trades are the operations of luck and had nothing to do with his skill as a trader. Similarly, we also experience the bad luck of having prices make a sudden and unexpected move against him.
Instead of spending your time in denial, concentrate your mental energies on improving yourself and improving your negotiating skills. Work on improving your ability to observe. Realize that you have to survive the markets in order to benefit from the experience of the markets.
There is really only one real problem with trade-that the problem is you! However, the problem manifests itself in two ways: 1. Market conditions have changed and it is not. 2. You are no longer doing what he did when he was winning. It has come out. That are not consistent.
The first aspect of the problem is the observation of the poor. The market has changed and has not changed him. Observation of the poor comes from a variety of minor problems, but very important. He married a market, or a trade. You may have allowed his ego to the best of you and you are no longer humble. I called a couple here. I challenge you to think of many things that can distract from seeing the market conditions have changed. Make a list of things and deal with them.
The second aspect of the problem stems from inconsistency. Again, you should make a list of those things that make it inconsistent.
"Maybe I was a good trader at one time, but market conditions have changed and may not be able to keep my reputation up." This is an issue that all traders face at some point: keep your reputation. When a trade makes large profits, it is tempting to neighbors and friends how well you are doing. It's great when you're making big profits, but keeping up appearances is often falling to the most astute trader. Once again, negating the need for fame and glory, or pretending that you can maintain an unrealistic reputation, reduce their psychological energy and interfere with your ability to concentrate. Huge profits tend to go to the poor, so do not try to build your reputation. Admit that you have difficulty keeping up appearances and just quit.
One fact that traders wrestle with continuously is the notion that "Trade is not a legitimate job."
Many traders struggle with the legitimacy of the negotiation. Some traders find that you can simply remind themselves, "Trading provides liquidity and helps control prices." Other traders, however, that this is not enough and need to find more meaning in their daily business activities. For example, you can focus on how trade helps support his family, or plan to donate part of their profits to charities they view as personally
valuable. The point is, do not deny the possible truth of these ideas. You better recognize and work with them, and then just move on. Deny that, on the other hand, consume time and energy.
Unacceptable beliefs tend to be located in the back of your mind. Remain there, lurking, and when they are vulnerable, that can powerfully influence your outlook. Therefore acknowledge unacceptable ideas, and once you admit the possible validity of such ideas, will neutralize their potential influence. This will free up limited psychological resources, allowing you to focus your energy on trading profitably and consistently.
Many traders think that the best way to deal with unpleasant ideas, events, or defects of personal character is close your eyes and pretend it does not exist.
Let's face it, trading can be difficult, sometimes very difficult, it is essential that you focus on reality. Denial has its focus on the thing you need to concentrate on price action, regardless of time. Your mind must be clear so you can watch the market and see what is really there.
The way we learned to handle denial was to simply write down and address all possible ideas I had trouble accepting. Some reflections that could fix and others who simply had to accept. But faced with the truth of what and who you are is the only way to deal with denial. You have to realize that most of the only things you can change yourself. Other things you just have to accept. We must accept the reality of slipping, for example. You have to realize that indicators often give false signals and there is no magic moving average nor a magical oscillator.
You have to realize that some winning trades are the operations of luck and had nothing to do with his skill as a trader. Similarly, we also experience the bad luck of having prices make a sudden and unexpected move against him.
Instead of spending your time in denial, concentrate your mental energies on improving yourself and improving your negotiating skills. Work on improving your ability to observe. Realize that you have to survive the markets in order to benefit from the experience of the markets.
There is really only one real problem with trade-that the problem is you! However, the problem manifests itself in two ways: 1. Market conditions have changed and it is not. 2. You are no longer doing what he did when he was winning. It has come out. That are not consistent.
The first aspect of the problem is the observation of the poor. The market has changed and has not changed him. Observation of the poor comes from a variety of minor problems, but very important. He married a market, or a trade. You may have allowed his ego to the best of you and you are no longer humble. I called a couple here. I challenge you to think of many things that can distract from seeing the market conditions have changed. Make a list of things and deal with them.
The second aspect of the problem stems from inconsistency. Again, you should make a list of those things that make it inconsistent.
"Maybe I was a good trader at one time, but market conditions have changed and may not be able to keep my reputation up." This is an issue that all traders face at some point: keep your reputation. When a trade makes large profits, it is tempting to neighbors and friends how well you are doing. It's great when you're making big profits, but keeping up appearances is often falling to the most astute trader. Once again, negating the need for fame and glory, or pretending that you can maintain an unrealistic reputation, reduce their psychological energy and interfere with your ability to concentrate. Huge profits tend to go to the poor, so do not try to build your reputation. Admit that you have difficulty keeping up appearances and just quit.
One fact that traders wrestle with continuously is the notion that "Trade is not a legitimate job."
Many traders struggle with the legitimacy of the negotiation. Some traders find that you can simply remind themselves, "Trading provides liquidity and helps control prices." Other traders, however, that this is not enough and need to find more meaning in their daily business activities. For example, you can focus on how trade helps support his family, or plan to donate part of their profits to charities they view as personally
valuable. The point is, do not deny the possible truth of these ideas. You better recognize and work with them, and then just move on. Deny that, on the other hand, consume time and energy.
Unacceptable beliefs tend to be located in the back of your mind. Remain there, lurking, and when they are vulnerable, that can powerfully influence your outlook. Therefore acknowledge unacceptable ideas, and once you admit the possible validity of such ideas, will neutralize their potential influence. This will free up limited psychological resources, allowing you to focus your energy on trading profitably and consistently.
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