Solution to become CONSISTENTLY Successful Day trader…..
Day trading is my DREAM……And I trade my DREAM….
Most of novice traders and struggling traders , (who’s focus is on money only) believe that – They need good trading strategy or holy grail trading set up to make huge , fast and easy money from day trading….it is biggest misconception of their perception……
Lets understand How and Why ?
To become Professional Day Trader you must have to :
1.TRADE like PRO
2.THINK like PRO
Lets dissect Trading process :
Part I : Identifying day trading opportunity based upon technical trading strategy – is TECHNICAL skill.
Analysing market is function of observation.
You need to develop intelligent quotient for this.
Part II : Executing trade on that trading opportunity.
Executing trade is function of your state of mind.(Flowless execution of trades without any emotional discomfort)
You need to develop emotional quotient for this.
Those who are struggling hard to become profitable professional trader , had realized one thing – after learning profitable trading strategy , when they do back testing of that trading strategy on past data , everything works fine. But when they start to do REAL trading in live market on their hard earned money , they are not able to follow that profitable and proven trading strategy……WHY ?
They had completely ignore psychological aspect of trading.
Amount of money going to flow to your account , is directly proportionate to how much psychological skills you had acquired.
Consistent result in trading is function of your state of mind.
Market analyst and Trader are two completely different endeavors. It is not guaranteed that good market analyst can become profitable trader. Because to become good market analysts there is no need to acquire and maintain highly sophisticated psychological skills.
But to become CONSISTENTLY successful day trader (to do trading for living) you need to acquire highly sophisticated psychological skills.
To become market expert you just need to analyse market , but to become professional profitable trader you need to analyse YOURSELF.
Once you acquired psychological skills like patience , discipline and confidence , then only you will be able to Follow profitable and proven trading strategy. Flowless execution of trades without any emotional discomfort is one of the important characteristic of professional day trader .