As it relates to trading, one must bring entries, exits, stops, your psychological make up, general crowd mentality, market conditions, self diagnosis and technical issues into the mix.
Learning technical analysis and how to read the markets ebb and flow is one thing. How to manage the emotional side is another.
Nothing should surprise you, you should have a response waiting beforehand for anything that comes your way. In this way you can keep an even keel and stick to what will make you successful- the plodding application of the few simple components of your trading system namely price movement, staying in the flow and sync of the markets, playing the probabilities. The probabilities will manifest themselves whether you are a participant or not so making money should be secondary to following your plan. The money will be a side effect when your plan is played to fruition.
If you know you can do it, really have no self doubt whatsoever then trading will be as easy as it seems from the outside. The battle is with yourself keeping the emotional side in check and letting the cold, hard, calculating side take over.
1 comment:
I have discovered that it is as advertised: Technical aspects will be mastered long before one sheds emotional & mental constraints.
I continue to study your charts and learn from your commentary.
After nearly two years, this is still my first blog stop.
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