Posted by admin | Posted on 08-05-2009
Category : Business Stratigies, Finance
Tags: Trading Mindset
First tip is not to mix or listen to anybody. The trading market is also one of stiff competition. The success of one results to the downfall of another.
Trading is like gambling, don’t show your cards since those that are in the market will also not lay down their cards for you.
Second tip, no one else knows better than you.
People tend to get or consult for advice about everything and call for an expert about your car, homemaking or do-it-yourself handiwork, but those are not a competitive or fierce market.
There are trading experts, but trading is a gamble. You know or manage your risks, opportunities and benefits better than others, so rely on your wise and good judgment.
Maybe there are people out there who will teach you to trade and give you education – but ignore the vast amount of so called experts who tell you they can give you success.
Everywhere there are experts selling systems which have never been traded, new traders buy them and think there going to get rich, truth is, no one can give you success, you’ve to work for it and earn it- that’s the hard and fast rule for establishing your trading mindset.
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Posted by admin | Posted on 24-04-2009
Category : Business Stratigies
Tags: Trading Mindset
There’s a psychology behind trading. It’s about the perceptions change that you go through once you’re actively in the markets trading.
Trading psychology and trading psychology issues are the predominant reasons why traders lose. It has been widely discussed in books and lectures that it has been a convenient excuse for losing. What is trading psychology? Trading psychology is an attitude or a reaction that a trader creates from existing personality traits. These personality traits might not be even related to trading or to market, but they surface from trading.
Common emotions brought about by this personality traits are fear and greed. Fear has a big effect on trading opportunities. Deals or trades might not be made because of fear or they might be closed prematurely before they reach or have a chance to profit. Meanwhile, greed will cause you to make trades which are too risky or too large while trying to accumulate gains.
Other emotions you’ve to check is failure and discipline. Failure is perfectly normal but we shouldn’t let this get us down. Failure is expected and should make us better. While, discipline is about sticking to your techniques and never deviating from it. There are traders who change their techniques if they’re having a winning and losing streak.
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Posted by admin | Posted on 10-04-2009
Category : Business Stratigies, Finance
Tags: Trading Mindset
from youtube
Here are some common tips on how to strengthen your trading mindset.
Always take full responsibility for your trading decisions.
As a rule of thumb, most investors simply follow the crowd, but successful traders make up their own minds.
Although you should always be open to good advice from other experts, but the final and ultimate decision rests upon you and not with anybody else.
You can always try to concentrate on the opportunity to learn since there’s plenty of it, but do not let it cloud your perspective or determine the choices you make.
Avoid the pitfalls of over-trading.
There are basically two types of over-trading – trading too often and trading too many shares.
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