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Trading Psychology: The Mindset Of A Losing Trader

"The only place where success comes they are never able to become good at one
before work is in the dictionary." methodology.
-Proverb- Thinking traders need to know the outcome
There are two types of men in this world. before hand. This conflicts with their
One that falls and one that stands up ability to trade. They tend to be
after he falls. In NLP or perfectionists wanting to be right all
Neuro-Linguistic Programming, there is no the time. Trading is not about being
such things as failure. A failure is right. It is about making money.
simply classified as a feedback and every Jumping The Gun
feedback is a lesson to help you learn How many men do you know that act before
and improve. There are many hurdles a they think. A form of balance is needed
trader must overcome to become when trading the markets. However, many
successful. A winning trader views each new traders lack patience and discipline.
hurdle or setback as a step towards They get too caught up emotionally in
success. their ideas that they often do things
The losing trader on the other hand does just to regret rushing in at the end.
not hold this belief. Ed Seykota said it These type of traders have a hard time
best. following their trading plans. They may
"A losing trader can do little to understand what it takes to trade
transform himself into a winning trader. successfully but their lack of discipline
A losing trader is not going to want to and self-understanding prevents them from
transform himself. That's the kind of doing so. They believe that eventually
thing winning traders do." things will turn out alright. They often
Harsh but yet so true. Success only comes play on a tilt after a loss and will
to those who want it badly. Nothing in trade recklessly with their capital.
this world should be done half-way. Change Is Good
Losing traders refuse to take Many people are too comfortable with
responsibility of their actions. They their current situation that they dread
prefer to blame external factors for change. It is common to see couples who
their mistakes and lossses. In NLP, in are unhappy with each other remain in a
order for a feedback to become a lesson relationship because they are too used to
one must take full responsibility of his being together. Some people associate
action. change with fear. This attitude does not
We All Start Off With A Dream help in trading. Learning is easier than
I think men in general spend half their unlearning. When something does not work,
life dreaming. Without a dream, there is one needs to change what he is doing
no thought. Without thoughts, there is no right away. A trader needs to be flexible
action. However, too many men spend their and hold an open mind.
time talking and thinking. What is Characteristics Of A Losing Trader
required is action. 1. Undiscplined
Losing traders think similarly. They are 2. No money management
so used to thinking and not acting that 3. Unprepared
when the opportunity knocks at their 4. Overtrading habits
door, they are unable to answer it. 5. Easily tilted
Thinking traders usually turn to trading 6. Does not trade with probabilities
systems; tweaking every indicator they 7. Trades emotionally without
have to find the perfect signal. The controlling: greed, hope, fear, and
problem is they spend too much time euphoria
jumping from one system to another that 8.




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