Developing YOUR Heart-Mind Trading Edge. - page 6
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Next week I'd like to touch on the idea of conditioning again.
Until then, have a great week.
Next week I'd like to touch on the idea of conditioning again. Until then, have a great week.
Hello Traders,
Would like to touch on the topic of Conditioning. Sorry I was not online last week to continue the discussion.
Conditioning is a vital aspect to successful trading. What it boils down to in a nutshell is your trading habits. You are the one who conditions yourself to trade well or poorly. For example, if you begin by jumping out every time price goes against you, as a newbie, this can become a habit even if you have developed a good system. In this business it is so essential to start with good practices. The internal programming that occurs that we can't see impacts us nonetheless and must be addressed. The best of trading intentions will get nowhere unless heart-mind conditioning is dealt with properly.
Unfortunately, new traders don't want to take the time or spend the money to be properly trained. They want to make money, and make it now or with the shortest "learning' curve as possible. In this business, that is a set up for failure. The high percentage of traders who lose is proof positive of this fact.
What is the solution to this? Get serious about this business. Treat it like a business. Anything less than that will not take you where you'd like to go.
Trade wisely; trade well!
Hello again Traders,
I have been considering what would be another heart-mind tidbit to share. I have narrowed it down to either fear or some of the heart-mind defense mechanisms we install that keep us from following our trading rules.
Will be thinking some more on it...
You mean fear like the element that keeps us on the correct path?
Or fear that deviates us from it?
You mean fear like the element that keeps us on the correct path? Or fear that deviates us from it?
Hello nbtrading,
Thanks for the question. In the case of trading, I would like to deal with the aspect of fear that causes us to deviate from doing what we know to do. That aspect I think has the greater impact. Might have to spend some time on it as it is a trading biggie.
If a trader does not deal with that side of his/her trading, it can escalate into a major trading issue...even with a great system.
Take care.
Hello again Traders.
Seems like things are getting back on stream. Will pick up the discussions on ways we can deal with fear very soon.
Hello Traders,
Thanks for your patience. We'll be talking about the issue of Fear in trading next. For those of you celebrating Thanksgiving tomorrow, enjoy your day with family and friends.