How to build Day Traders Mindset ?
It doesn’t matter How much financial success you DESIRE in day trading ….what matter is How much financial success you DESERVE….
Trading is simple , we just have to acquire knowledge about How prices move ? what are the limitation of technical analysis ? And use this knowledge to shape our thoughts about trading.
Professional Traders state of mind should not be affected by :
1. When there is no Opportunity in the market
2. When there is Profit in your trade
3. When there is loss in your trade
Once you acquired skill of not becoming excited because of profit….Then you will automatically acquire skill of not becoming frustrated because of loss.
To become consistently successful trader , You need to acquired highly sophisticated psychological skill along with technical skills….
Most of the novice traders thinks that only technical skill is enough to generate money on consistent basis….But after attaining few technical analysis courses they come to realization that something is missing ….and i.e. Psychological skills….
Just think as third person , those who are conducting technical analysis workshop , why they talk only about magical indicators or perfect set ups ?… why they are not showing their REAL TRADE executed on that magical indicators or perfect set ups ?????…..If set up is so perfect ….If indicator is so magical …then why they are not trading on that set up or indicator ? why they are not showing REAL TRADE proof ….with exchange execution order number…?
Teaching is EASY….But Learning is HARD….
To TEACH someone How to manage mind during trading is EASY…..but to LEARN to manage their own mind during trading is HARD…..where most of technical analysis guru’s FAIL…..That’s why they just talk about perfect set ups and Magical indicators…..but unable to show actual executed trades……
Once you acquired and maintain State of mind need to become professional day trader then money will be by product of that skills.
More interesting thing is all psychological skills required to become consistently successful trader are LEARNABLE.
One of the most important psychological skill required is PATIENCE.
In trading you required patience :
1.To wait till opportunity generates….
2.To wait till output comes….
Once you acquired skill of patience then you will be able to remain stick to your trading plan…. You will be able follow your rule….Then no opportunity period , profit trades , loss trades will not affect your state of mind….
To know more about How to build and maintain psychological skills required to become CONSISTENTLY successful Intra Day Trader kindly CLICK HERE.