Are YOU Trading or Gambling?
YES YOU CAN LIKE OTHERES DID>>>>
STUDY HARD AND PRACTICE FIRST
todayās lesson weāre going to try to figure out if YOU behave more like a TRADER or a GAMBLER in the Market.
Sounds fun...doesnāt itā¦
Ok...well some of you probably already know YOURSELF well enough to know the answer, but in any case, it will certainly help you to read the rest of this email as wellā¦
First lets break it down a bit, and compare the difference between the two mindsetsā¦
Firstly let consider the Professional Trader Mindsetā¦.
These traits belong to Professional Traderā¦.
--Mastered a Sound and Effective trading strategy
--Uses a Trading Plan
--Is Fixated on Risk Management above all else
--Always trying to Improve the Process
--Trades and follows his strategy/system
--Does not become emotional during or after a trade
--Considers their trading a business not a hobby
Now letās turn our focus to the Gambler Mindsetā¦
These traits belong to a Forex Gamblerā¦
--Follows a strategy without a statistical edge in the market
--Trades from the Hip...based on Gut feelings
--Primary focus is on Potential Profit rather than Risk
--Constantly switching from one strategy to another
--Is too emotionally tied to each trade
--Cannot cut losing trades..until the pain becomes unbearable.
--Overtrades because they feel they are missing out
So there you have itā¦.
Which one of these best describes YOU?
If you are acting like a Professional Trader in the market...then hats off to you...You are on your way to consistent profitabilityā¦if youāre not there alreadyā¦
If, however, you are acting like a Gambler...then YOU need to check yourselfā¦.take some time offā¦..Reflect on this for a bit Study hard and practice in Demoā¦.and come backā¦.and work on creating the proper mindset required for success in tradingā¦ YES YOU CAN LIKE OTHERES DID>>>>
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