Trading Mastery Involves Gaining Mastery Over Yourself | Forex Factory

  • Trading Mastery Involves Gaining Mastery Over Yourself

    From fxtechstrategy.com

    Trading Mastery Involves Gaining Mastery Over Yourself When you are in a trade, more is challenged than just your knowledge of the markets. Your self-identity is challenged as well. That is, your weaknesses, character and ability to keep your commitments become tested as soon as you open the trade. Self-discipline is a critical component of becoming a successful trader. Trading can be defined in a number of ways. For example, “A transfer of funds from those who do not know what they are doing and have little emotional management, to the accounts of those who do know what they are doing and are exercising strong ... (full story)

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seaman2
Apr 6, 2013 7:25am
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Not agree.

Once you have proven method, discipline will come by itself because goal will be worthy and within reach.

Trying to trick your mind to ignore danger signs (because method is not proven and inner you knows it) is not good strategy.
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seaman2
Apr 7, 2013 4:45am
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Quoting Pessimist
@Seaman2 that is some horrible advice there, basically what you are saying is if you have a bad habit don't try to stop just keep doing it and one day you will just magically stop. If you are a nail biter don't try to stop biting your nails, just keep doing it and one day out of the blue you will just stop. which is completely false. If you keep doing the same thing, you will keep doing it unless you put some effort to stopping it.
hum, not sure how you interpreted my words. Let me try again:

Find a valid & truly tested system. You will know that you have gem and your unconscious you will be happy. This will empower you to get discipline up to the level.

See example of traders that use internet delay during news to profit. They know that edge is on their side and they bet without hesitation. See gomarkets broker thread for details. This is example of real edge.

Until you do not have real edge, your preservation instincts will say NO, do not trade. And it is in your benefit. Applying mind tricks that teaches you to bypas these inner warnings is WRONG.
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Pessimist
Apr 7, 2013 2:21am
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@Seaman2 that is some horrible advice there, basically what you are saying is if you have a bad habit don't try to stop just keep doing it and one day you will just magically stop. If you are a nail biter don't try to stop biting your nails, just keep doing it and one day out of the blue you will just stop. which is completely false. If you keep doing the same thing, you will keep doing it unless you put some effort to stopping it.
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navigator8
Apr 6, 2013 8:23am
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I agree with seaman2, to develop a strategy that will lead to profit, you need to ignore discipline, but with a small volume of trade.
When the strategy is working, even then, and formed a discipline - that would not depart from it. If it is broken - the market will punish.
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Spreadbetter
Apr 6, 2013 9:00am
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Jeez, not another one of those useless pseudo, psycho babble articles, written by someone with a c grade GCSE in sociology, who's subscribed to an NLP course over the web and who's probably never traded.
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Trader#F61D
Apr 6, 2013 12:47pm
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You can't have a proven method without the discipline and confidence to use it.
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