This week I have moved away from psychology training as I feel that it is important to add my commentary on the current market conditions. I’m not one to normally predict the direction of the market. To be honest I don’t get caught up in the economic noise or the negative press articles on the…
A competitive mindset will take you out of flow with the market and cause you to try to control and beat the market with whatever means you have. The typical weapons of choice are analysis and trying to predict price movement to prove that you were right and the market was wrong. Many novice traders,…
Because loss trades simply must occur, it must be accepted that it is impossible to achieve a trading record that only comprises profit trades—that is, a perfect trading record. Once this is accepted, it must follow that perfection or certainty for every trade is unattainable and that traders are therefore dealing within a probabilistic environment.…
Thinking from the markets perspective means forming connected ideas about what and when to buy and sell from the view of the facts and events in the market. The facts and events are movements of price in tradable instruments. If your perspective causes either positive or negative emotional feelings in you about the price movements,…
Once you have accepted achieving consistency as your major skills goal, what other skills goal can you set? Perhaps you could set a goal to become the ‘perfect trader’. What would this mean – no losing trades? Is this possible? I can assure you, it is not. Randomness will take care of this. A perfect…
