Wanted to share how having the proper mind ultimately determines your success. What changed for me in my trading wasn't my system, wasn't my time frame, it was my mind... that's when I started to do well day in and day out.
You have a system.. you have an idea.. have proper money management?
None of it matters without the proper mindset.
The minute you hesitate, second guess, get scared you've already lost. You need to enter every trade "knowing" your going to win... no excuses.
If you over-analyze, second guess, over-think, do the, "what if" have one hint of a doubt
How many times have you been in a position your system called for, but you can't handle watching price jump up and down in a live account? So you close early and the position runs to your TP. ( I have more than I can count in the past) You're not ready to trade until you can watch a 5k, 10k 100k live account ping pong around and laugh at it and think nothing of it. Or go into floating drawdown and not get weak hands, sweaty hands or make irrational decisions based on your floating equity.
Scared traders have a defensive mindset. Winning traders think about how they are going to drive down the field and score the next touchdown. If you're afraid to lose money, just quit now. If you feel like you're going to throw up after you blow your first $500 account... stop now. The #1 ranked defensive in the NFL is nothing w/o an offense... don't trade like your the #1 ranked defense. Trade with conviction, trade with fortitude, trade like your the most bad!@@ mofo in town. Be cocky, be confident and just know your going to whip some tail.
Everyday your going to battle with yourself. I wake up for the london session knowing I am going to war... knowing that that my inner self is there on the other side trying to spook me and wants me to lose. Have some drawdown, get stronger and know your going to win the next trade, have 5 losing trades in a row? Run that pay dirt b/c you know how much make for every yard ran.
This is the truth - be a winner, expect to win, always win. This is what your mindset needs to be... even if you are losing.
You have a system.. you have an idea.. have proper money management?
None of it matters without the proper mindset.
The minute you hesitate, second guess, get scared you've already lost. You need to enter every trade "knowing" your going to win... no excuses.
If you over-analyze, second guess, over-think, do the, "what if" have one hint of a doubt
How many times have you been in a position your system called for, but you can't handle watching price jump up and down in a live account? So you close early and the position runs to your TP. ( I have more than I can count in the past) You're not ready to trade until you can watch a 5k, 10k 100k live account ping pong around and laugh at it and think nothing of it. Or go into floating drawdown and not get weak hands, sweaty hands or make irrational decisions based on your floating equity.
Scared traders have a defensive mindset. Winning traders think about how they are going to drive down the field and score the next touchdown. If you're afraid to lose money, just quit now. If you feel like you're going to throw up after you blow your first $500 account... stop now. The #1 ranked defensive in the NFL is nothing w/o an offense... don't trade like your the #1 ranked defense. Trade with conviction, trade with fortitude, trade like your the most bad!@@ mofo in town. Be cocky, be confident and just know your going to whip some tail.
Everyday your going to battle with yourself. I wake up for the london session knowing I am going to war... knowing that that my inner self is there on the other side trying to spook me and wants me to lose. Have some drawdown, get stronger and know your going to win the next trade, have 5 losing trades in a row? Run that pay dirt b/c you know how much make for every yard ran.
This is the truth - be a winner, expect to win, always win. This is what your mindset needs to be... even if you are losing.