First Lesson in Trading Psychology

When you decided to be a trader and be good with it in the future. You have to decide also to re-wire your brain on an unusual mindset.

There is no BEST TRADER in the world. When you put yourself into this business, you have to believe that you can not be the best trader in the world and you can not beat the World Forex Market. You are only as good as your trading plan. You are only as good as your “Entry Plan”. You are only as good as your Money Management plan. You are only as good as your 'Exit Plan". You are only as good as how you follow your trading plan. You are only as good as your last trade. Even if you hit the TP this morning and gain 20% in one trade, still you are not the best trader in the world or in any group. Even if you hit 500% this month, still you are not the best trader in the world. Even if you hit 3,000% this year, still you are not the best trader in the World. Always think that the most important thing for you to do your next best is to plan for it. If you can not imagine how your next trade will end, good or bad, your past performance is all negligible. KEEP THIS IN MIND.

You are spot on about being the best trader. There is no such thing called best trader or best trading strategy. It is a game of probability, which is to be dealt with proper calculation. Money management, having solid trading psychology are two things that are often ignored. We must maintain those with the strategy that we trade with.