Today's lesson will be asked to dig deep within yourself and ask, "How bad do I want this?" How bad do you want to become a successful entrepreneur? Are you willing to do whatever it takes, even if it means significantly change the way we think about operations?
Most people find change very difficult. There are things involved as ego, pride, Lazy, etc. But the fact is that change is the first step to put a "cork" in its former trading habits that have been destroying their own, and get on the road to commercial success.
What follows is a brief discussion of why and how you have to change your mindset to succeed in trading. If you read this entire lesson and really make the change in your thinking, you will experience a significant improvement in their business experience and performance.
First, you must change the way of thinking about operations
One of the things that gives operators a lot of problems, is getting too attached to any trade. In fact, you should have zero mental and emotional attachment to any trade you take.
As I said in my article about winners and losers randomly distributed, while its commercial advantage could have a winning percentage, say 60%, you need to understand what that means ...
What a winning percentage of 60% means: It means that more than one large enough sample size or series of transactions, you can expect to earn about 60% of the time.
What a winning percentage of 60% does not mean: It does not mean that any trade has a 60% chance of being a winner.
Many traders are confused into thinking that "this" trade will be a winner, or even that "this" trade has a 60% chance of winning, when in reality this is not the case.
Think about this from a different perspective, imagine a large jar of marbles of two colors, red and azul.Digamos say that each marble represents a commitment it has taken, there are 100 marbles in total, 40 red and 60 blue. Red marbles are losing trades and blue marbles winning trades. Therefore, you have 60% winners and losers 40% when translated to your trading method, this shows that you can expect to earn 60% of their operations.
However ... this is where the thinking part is complica.Si is stirred until the jar of marbles so they are randomly distributed inside the jar, and you hand blindly sticks and get one, do not know if it will be a marble red or blue. Therefore, you would not be 'waiting' a blue marble, because you know they are red in there too, randomly distributed.
This is the way we need to think about their operations. You need to think about them being distributed random events, even if will win 60% or even more time. Once you begin to realize that the same trade has the same chance of being a winner or loser, you stop giving too much emotional and financial importance to any trade. Once this is done, the path opens to trading without worries and allows you to truly induce proper mindset trade.
I get emails from traders who tells me they are 'excited' on a trade setup. This makes me cringe because it means they are expecting some of that trade setup, they are expecting that works for them. However, they should not. They should have no expectation of any configuration of one, because each configuration has a random result. It is the series of operations while trading our advantage (price action) which gives us the opportunity to make money.
By removing all expectations and attachment to any trade, it automatically starts doing other things correctly, as properly managing their risk and not fiddling with trades after they're alive. Because you realize that every trade setup may or may not exercise, you do not want to over-commit to it and do not want to be on your way. You risk an amount you're okay with the loss and let the market do 'his thing' because they just let their edge play along a series of operations.
Think of the odds of avoiding the emotional trauma
Think of a slot machine for a minute. You put money into a slot machine know in advance that it is a random event, so it has no real expectation of winning or losing in any arm pull. Therefore, expectations for the results of a slot machine are in alignment with the reality of the event itself.
In trade, however, it is a form of pattern in the market and because maybe the same pattern worked last time it starts to expect that it will work again this time. Once you commit to this way of thinking that is preparing for a possible disappointment and emotional trauma. They are forgetting that every trade has a random result that is disconnected from its recent operations. The fact that this exact same pin bar was a winner before, does not mean the next one will be, even if it is exactly the same.
Now obviously, if you have an effective commercial advantage as my strategies of price action, you can greatly improve your chances of a winning through a slot machine, but still, the result of any event (trade) is the random. Therefore, you can not allow yourself to be affected by the outcome of any trade.
This trade has no influence or connection to the next trade. If this trade was a loser, the next trade could be a winner (or loser) and if this was the next winner could be a loser (or winner). If you have a success rate of 60% on its edge, remember that is done through a series of operations, and that could mean that you have 5 or 10 losing trades in a row. This does not mean that despite panic. You stick with your plan and strategy and continue to take the trades, as they are, because it is required to change a sample size large enough to see play out their advantage.
Your goal should be to eliminate the potential for the market to which disappoints realizing that trade is not about being good or bad. This is how you need to change. It is necessary to eliminate any possibility that the disappointment of their trade by thinking about the odds. Remember the bottle of red and blue marbles next time you enter a trade. You are simply blindly dipping his hand in the jar marble every time you take a trade, so do not expect to get a blue marble, just know it's going to be a marble red or blue, and once you pull all out, you have 60 blue (winners) and 40 red (losers). If you can do this, you will be thinking in line with the way it actually exists in the market and that is being able to benefit from the market, instead of being battered by it as you are probably now.
How debug Trade And start making money
All operating accounts blown out are the result of a snowball effect of errors comercio.Te stay glued to a trade that "only knows 'is' so perfect" that "can not fail" and so They are doubled or triples your risk, hoping to hit a "home run'.Cuando that fails then trade, and frustration experienced severe emotional trauma. This makes the snowball effect to start. You begin to feel angry that you lost, you get angry, so jump back into the market and the risk even further, hoping to bring back the lost money. This can go on and on until you blow your account, which will not take long.
The point is that all this emotional strife and frustration and snowball trading mistakes that causes can be avoided by changing the way of thinking. That is, by thinking about their operations in terms of probabilities, as mentioned above, will circumnavigate the main reason why most traders lose money; expectation.
Think about when you were Demo Operations. did probably impressive, as many currency traders make. Why did awesome? Because he had the mentality of fair trade ... You had no real expectation about any trade, because no money was on the line, so no matter if the particular trade loses or gains. That's all right there; you have to do not care if you lose or win in any trade, and that makes thinking in terms of probabilities. If you can do that, you'll be well on your way to finally making money consistently in the markets
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