Yes, It's true. Psychological is the most important aspect in trading. But aspire traders maybe never experienced the real psychological revelation in trading. It cannot be described by word how to feel it. But I am sure I already experienced almost every emotional traits in trading.
I am not an expert in human psychology. I am just ordinary trader with few education. I start trading 2007 and only after early 2011 found my own holy grail. From that moment till now there is no turning back. I can wiped out my losses from 2007 - 2011 in 2 months. It seemed like profit is my middle name now. They keep coming like a free ATM machine. Best moment in my life is now.
I want to share some of my experience and how I can reach all my dreams till now. I cannot help you to overcome your psychology problems. Each people have different problem, different character, and also different solutions. But one thing is very important about all this trading stuff is only one:
mindset
Yes, mindset is the most important thing in trading and all other things in the world. Mindset that you are destined to be success. Sound cliche but it is true. Mindset is different with faked hope on market direction. It is more about what's inside you. What you believe most, but always have open mind. It means what you believe can be changed but one thing is not ever change that you believe you are destined to be success.
I saw some traders keep doing the same thing, tweak there, modify this, etc. While they missing what is true important things in trading. Their eyes is closed by illusion of trading world. Trading world is what I can see is the same with Business world. You success, everybody want piece of you. Competitors come out, Copycat everywhere. In my country it's worse because no copyright protection here so everybody can open same business like you.
Let's step aside for a moment. See with different persepctive. Trading is not just you vs the world. It's more than that. You must have confidence in you. And it is near impossible to get it if you still struggle in trading. Breakthrough is needed. You must profit first then keep it that way. Keep profiting. Keeping is very difficult. Sometimes there are stones. But still, you must keep profit, Manage your emotion. Keep profit till you have abundance mentality. This usually come when you earned more than you need. Right now I only need 10% of what I earned. It felt so secure and comfort. When market is dull, I keep low and sometimes not earned much or even nothing. But when there are good moments, it's payback time. I earned insanely like there is no tomorrow.
What is abundance mentality? It is not about living lavishly and hedonism. I still in modest living mode. But I kept giving what I earned to theirs who need more. Yes, I will hold my desire to buy cool gadget but I donate the same amount of money to others. Feel Strange isn't it?
Philantropist showed that they have more. And the attraction of abundance will give them more money, It worked. Now I don't really need that much I earned but it is always feel enlightened to share with others.
If you can start to give now, it's a quantum leap to your trading journey. If you showed the world you have more, than the more you will get.
PS : all losers trader are usually stinky, because the poor mentality. Changed it and see what you get.
I am not an expert in human psychology. I am just ordinary trader with few education. I start trading 2007 and only after early 2011 found my own holy grail. From that moment till now there is no turning back. I can wiped out my losses from 2007 - 2011 in 2 months. It seemed like profit is my middle name now. They keep coming like a free ATM machine. Best moment in my life is now.
I want to share some of my experience and how I can reach all my dreams till now. I cannot help you to overcome your psychology problems. Each people have different problem, different character, and also different solutions. But one thing is very important about all this trading stuff is only one:
mindset
Yes, mindset is the most important thing in trading and all other things in the world. Mindset that you are destined to be success. Sound cliche but it is true. Mindset is different with faked hope on market direction. It is more about what's inside you. What you believe most, but always have open mind. It means what you believe can be changed but one thing is not ever change that you believe you are destined to be success.
I saw some traders keep doing the same thing, tweak there, modify this, etc. While they missing what is true important things in trading. Their eyes is closed by illusion of trading world. Trading world is what I can see is the same with Business world. You success, everybody want piece of you. Competitors come out, Copycat everywhere. In my country it's worse because no copyright protection here so everybody can open same business like you.
Let's step aside for a moment. See with different persepctive. Trading is not just you vs the world. It's more than that. You must have confidence in you. And it is near impossible to get it if you still struggle in trading. Breakthrough is needed. You must profit first then keep it that way. Keep profiting. Keeping is very difficult. Sometimes there are stones. But still, you must keep profit, Manage your emotion. Keep profit till you have abundance mentality. This usually come when you earned more than you need. Right now I only need 10% of what I earned. It felt so secure and comfort. When market is dull, I keep low and sometimes not earned much or even nothing. But when there are good moments, it's payback time. I earned insanely like there is no tomorrow.
What is abundance mentality? It is not about living lavishly and hedonism. I still in modest living mode. But I kept giving what I earned to theirs who need more. Yes, I will hold my desire to buy cool gadget but I donate the same amount of money to others. Feel Strange isn't it?
Philantropist showed that they have more. And the attraction of abundance will give them more money, It worked. Now I don't really need that much I earned but it is always feel enlightened to share with others.
If you can start to give now, it's a quantum leap to your trading journey. If you showed the world you have more, than the more you will get.
PS : all losers trader are usually stinky, because the poor mentality. Changed it and see what you get.
That would all have merit if you are now trading some kind of system independent of your scheme to game brokers. You are now not in the game of trading but in the game of taking advantage of inefficient broker. That is not trading the market. I don't think it's wrong, just that it doesn't have anything to do with trading as you were doing before 2007. Take now 90% of those money and try to just trade, then see do you have emotional problems and did something change in your mind set. Your advice is maybe great and true for general business but not necessarily for trading. MBAGearhead on your blogroll is a person that is doing pure system trading. Gaming stupid brokers is not the same as trading the market. My comment is based on what I read before on your blog about how you make money in market last few years.
ReplyDeleteYes FX, it is true that I made money from stupid broker. It doesn't mean that I have no risk doing that. Just 6 months ago I lost more than 60k in 5 minutes when trying to fool the broker. Do you think I will breakdown after that? I learnt my mistakes and recovered half loss from that broker at the same month.
ReplyDeleteI also trade real market sometimes especially gold when everything is very under/over priced with good success better than few years ago. The abundant mentality tood me it's ok if losing the money. Because my financial life is not depend on it.
The old me will feel like train wreck after big loss. But now I will maintain positive attitude like "I did the job done, loss is not my fault" "I profit more than my loss now in the past and I will do it again for sure" "Good thing I don't put all on that trade" etc.
Back in the past I will feel confused, powerless, and angered by everyrhing, And I don't have any idea what to do for my future. Feel like the worthless man in the world. Now I will feel like, oh I have new method to trade. I have through worse than this. Keep optimism.
The only time when I got breakdown when I lost because my mistakes doing the wrong setup. Loss because of my foolish.
Fx, I have experienced the ups and downs. What I do now is keeping the ups and raised it even higher. Hell I even have idea trade the market from dealing with my brokers. It's all come from the positive attractions.
I'm glad about your success and that your mind set changed in actual trading real market. You didn't blog about that much, but this blog post is start of it, so thanks for your time and effort. I now understand that it's all related in your case and that success really changed your mind set so you can now trade with that different thought process then before.
ReplyDeleteAn inspiring post and very true what you say that you need this undying belief that you will succeed. Part of my new approach now is to have some other side incomes which I've been trying to develop over the last year so that trading is not the be all and end all of my life, which previously lead to huge breakdown.
ReplyDeleteVery difficult to trade with an abundance mentality when you come from this sort of space. Life becomes ruled by the good days and bad days of trading. I haven't started up again as I have been working on these side ventures but it will be interesting to see if anything is different when there is less perception of scarcity in the mentality and do or die feeling ruling all decisions.
Thanks again for your post, always enjoy reading these.
Fx...
ReplyDeleteVery good explanation. Thumbs up for you
1lot...
You're welcome. I am very happy if my writing can be useful to others. I totally agree if you have side income. Trading is about patience and momentum. Other side income give peace in mind when market is dull.
Before 3 years I was playing forex with full of emotions but after getting tips from epicresearch.co I am much more confident in trading.
ReplyDeleteI rarely become emotional at the time of trading as I use intraday SGX signals and they are too accurate that never let me become emotional.
ReplyDelete