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Mentality - reasons for trading

  • #1
  • First Post: Apr 8, 2014 5:35am Apr 8, 2014 5:35am
Dear Folks,

I've been scanning the threads since 2012. A lot of funny thoughts, a lot of funny systems, a lot of price direction confidence. But some essence eludes, some basic setup, some fundamental...

It is the "question" that we miss very often.

The proper question that brings us to this market - and it is not "How?", it is "Why?"...

Why do you seek this market, why it is your personal goal, why do you think this market is "your place"...Most life changes starts with a question...

Can you answer that question?

Michael
  • #2
  • Apr 8, 2014 6:00am Apr 8, 2014 6:00am
Question why is the main engine in our FOREX trading. If our why is strong enough, we will succeed. I am sure that 99% of the people come unprepared to the market and that is the main reason to lose their money and after to spread the word that FOREX is a scam.
those are 10 of the main questions people need to answer before they even start trading.
1. Why are you trading?
2. What Do You Hope To Gain?
3. What Separates You?
4. What Are Your Weaknesses?
5. Planning To Address Those Areas?
6. Time To Devote To Trading?
7. Your Style Of Trading?
8. Entry Criteria?
9. Exit Criteria?
10.Which Pair/s?
  • #3
  • Apr 8, 2014 7:12am Apr 8, 2014 7:12am
Quoting michaelpelly
Why?"... Why do you seek this market, why it is your personal goal, why do you think this market is "your place"...M
Inserted Video
Howlin' at the Moon on the Roof
  • #4
  • Edited 10:24am Apr 8, 2014 7:37am | Edited 10:24am
The correct mentality for trading:

1) The more effort and dedication and "positive thinking" the greater the failure.

2) If one day you meet your (trading) teacher/mentor on the road; kill him.

It takes an enormous amount of time and effort to learn that there is nothing to learn and to unlearn anything that is learned about trading.
  • #5
  • Apr 9, 2014 2:49am Apr 9, 2014 2:49am
Decided to have a crack at your quiz
Quoting Alexeii
Question why is the main engine in our FOREX trading. If our why is strong enough, we will succeed. I am sure that 99% of the people come unprepared to the market and that is the main reason to lose their money and after to spread the word that FOREX is a scam. those are 10 of the main questions people need to answer before they even start trading.

1. Why are you trading? Money
2. What Do You Hope To Gain? Money
3. What Separates You? No idea what that is
4. What Are Your Weaknesses? Want more money
5. Planning To...
  • #6
  • Apr 9, 2014 3:14am Apr 9, 2014 3:14am
Quoting michaelpelly
Dear Folks, I've been scanning the threads since 2012. A lot of funny thoughts, a lot of funny systems, a lot of price direction confidence. But some essence eludes, some basic setup, some fundamental... It is the "question" that we miss very often. The proper question that brings us to this market - and it is not "How?", it is "Why?"... Why do you seek this market, why it is your personal goal, why do you think this market is "your place"...Most life changes starts with a question... Can you answer that question? Michael
I have this very aggressive attitude toward money. I want to spend it or trade it...I can not watch it lie on a table.

Also I want to succeed without school. I think collage is a bizarre thing...it just boosts up your ego.

There's also this thing to crack the FX game but unfortunately this "why" is not important any more because I figured out the game is manipulated.
  • #7
  • Apr 9, 2014 2:18pm Apr 9, 2014 2:18pm
I trade because it's fun. The ultimate jigsaw puzzle that's all nothing more nothing less.
Being a trader is lonely, but being a great trader is lonelier still
  • #8
  • Apr 9, 2014 4:00pm Apr 9, 2014 4:00pm
Quoting michaelpelly
...Most life changes starts with a question...
where is this coming from?
Invincibility lies in the defence, the possibility of victory in the attack
  • #9
  • Last Post: Apr 9, 2014 4:28pm Apr 9, 2014 4:28pm
Quoting Mingary
It takes an enormous amount of time and effort to learn that there is nothing to learn and to unlearn anything that is learned about trading.
there is something to learn, it's what not to do and you have to go through all the bullshit first to be able to do that
Invincibility lies in the defence, the possibility of victory in the attack
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