How Do You Spend Your Time?
Do you spend all your time on something that does not make a big difference?
Did you know that successful traders spend:
- about 90% of their time on psychology and money management and
- about 10% of their time on finding new trades and the mechanics of trading
and new and struggling traders spend most of their time finding new trades and the mechanics of trading.
So successful traders spend most of their time on psychology and very little time on the mechanics of trading and struggling traders spend little of their time on psychology and most of their time on the mechanics of trading.
It’s all Upside Down!
Take 100 people and give each the exact same winning trades, trade details, trading market and trading conditions:
- 5% will be very successful – make lots of money – and then do the next trade
- 15% will be successful – make some money – and then do the next trade
- 80% will fail – make none or loose money – blame the trading system, buy another $2,000 trading course looking for the holy grail … and this group will repeat this cycle over and over.
Well, its all about understanding how to trade from a carefree state of mind
and then you can trade without fear!
So How Do You Really Feel About Trading?
This is so important for you to understand “how you are feeling” before, during and after a trade.
You can have the perfect trade setup with perfect money management, however if you’re afraid to trade it, then their is no point to having the “perfect trade”.
Something that most new traders do is constantly look for newer and better trades, and they do not trade because they are afraid to trade it. It is a cycle that is repeated over and over!
You must know what and how you think and the what and how you feel about a trade or trading… and this can take some time to find out what and how you think and feel about trading. There are courses available to assist the what and how you think and feel.
More courses to put on the shelf and in the end, it is all up to you!
Once you know how you feel about trading, you can then decide if you want to trade.
Then only a matter of what and how to trade, and that stuff is easy to figure out.
It’s about how you feel and this is the skill has needs to be understood… and it’s different for everyone!
“Trading is about the discovery of yourself rather than the trade’s themselves”.