Hello traders, make sure to read this post carefully. This is probably something that everyone need to read if he or she want to jump into the next level.
With that being said let’s jump into the explanation.
The average human is not wired to properly trade the financial markets. We are wired in the worst way to be a good profitable trader. We are emotional human being by nature. As a trader you are 100% responsible of your results. You cannot blame your mentor the market or any other person because you are the one behind the ”click”’. No one can manage external parameters more than you ( you can manage when to open close how much to risk etc…)
This should be a very transformative post , and you should take advantage of that and use it to begin your cycle of positive momentum. Just like we are able to exponentially grow an account we can also use this opportunity to trade properly and compound your own results
1 stage : Self destructive Trader
In this stage , you do not have rules , you do not respect the money Management and you believe in the holy grail. You are here to make money because you think in that get rich quick solution.
Most of traders in this stage believe that there is a magic solution that it’s going to make them money. Most of these traders tend to blame the market the mentor etc… They have so many back-up bridges available for retreat. They have a backup plan if it doesn’t work out and their attention is scattered across different areas that won’t help to improve. They are already preparing mentally for failure. These are the part-timers GAMBLERS. They have a Plan B and C and on and on to the last letter of the alphabet . They doubt their decisions and jump from one thing to the next. How many traders have you seen changing form one strategy to another? from one class of assets to another? , from one course to another technical course?
In order to become profitable you should know that the outcome does not come from the market . You are the Problem and good news you are also the solution. In the related section you will find post that is going to change your trading. just follow us for more content.
2 stage Booms and Bust Trader.
In this stage you have probably lost your first account ( like me at the beginning) , you realized that all they have been told you about the markets it’s real. you can make a lot of money and you can lose a lot of money. Most of traders stay in this Stage sometimes for years. You already have a trading system , but most of your problems come from your perspective and your actions. Between the perception and the action there is a space and it’s up to you to chose the response . You must learn that this is not a get rich scheme. You need to understand that you need to build subconscient proper trading habits to PROTECT YOUR ACCOUNT.
3 Profitable trader
In this stage you probable have overcome the worst moments in your trading carrer and you realized that you should play with probabilities . In this stage profitable traders have a probabilistic approach that a few minority of the traders use. This approach is not based on predicting anything; rather is a precise pre-defined system of pulling the trigger when your system or edge presents itself, and the outcome of the trade is irrelevant Win lose , Breakeven , who cares. You don’t focus or you don’t expect anything from one single trade rather you focus on the outcome of a series of trades.
You effortlessly pull the trigger no matter what when your charts meet the criteria of your system or edge.
We take a series of trades, and we are entirely focused on the outcome of the series, and NOT the outcome of each individual trade. The outcome of each trade and attempting to predict the outcome of each and every trade is an non sense battle because humans are designed to expect what they predict. It is difficult to implement your system or edge in the markets flawlessly if we become attached to any one single prediction. Like most of those retail gamblers that expect everything believing that their life depends on one single trade.
we do not know what will happen next; we don’t need to know what is going to happen as mark Douglas say : the only certainty is the markets uncertainty.