“One of the things that amazes me most about trading is that the
longer I do it the more I admit that I don’t know. For a very long time I have
been convinced that I have no idea where the price of instrument is going. I
certainly know a lot about market dynamics, the history of markets (which is
something everyone should study) and about my own reactions to events. But I
have sold all idea about where the market is going. Granted I can create a
narrative in my own head to justify my own positions but at the end of the day
I simply make a bet on the direction of an instrument and I am consciously
aware of my own behavioural short comings.” – Chris Tate (an expert veteran of the
markets, more than 30 years of experience)
Anyone
can learn to be a trader – but making a success of it involves more than just
pushing Bid and Ask buttons. You need good strategies that will allow you to
deal with the vagaries of the market.
It’s
no secret that the majority of traders lose. But some succeed and become rich,
even super-rich. These are the super traders.
Insights
into the Mindset of Super Traders reveals the life stories of 20 selected
master traders: how they think, how they view the markets, and how they make
their fortunes. The book gives an overview of their careers and explains what
lessons can be drawn from their success.
“THREE QUESTIONS TRADERS
WOULD LIKE TO ASK RIGHT NOW.”
Why is trading so difficult?
Answer: What makes trading appear very difficult is
the fact that the market can never be predicted. When we predict, we’re
sometimes wrong or right. However, having an impression that the market can be
predicted is the single most important reason why most traders end getting
frustrated. No matter the analytical method you use (Monte Carlo, Neural
Networks, Horology, robots, Gann, news, Ichimoku, etc), you can’t predict the
future. Your frustration will continue as long as you think you can predict the
market. Once you admit you can’t do this, your frustration ends, because you’ve
aligned yourself with the reality in the market.
What benefit can I get from trading?
Answer: Freedom. Freedom is everything. You master
your financial destiny, growing richer and richer gradually. Very soon, you’ll
realize that trading is the best vehicle for financial freedom; plus the
greatest game on earth. Sadly, many people don’t believe this fact.
How can I experience permanent success in the
markets?
Answer: You will attain permanent success once you
devise a way to make money in the market without being able to predict the
market – without knowing what the market will do next. This kind of strategy
isn’t hard to devise. You’ll then see each new trade as a potential loser until
you’re proven otherwise. This mindset will enable you to activate stops and use
a small position size. You’ll know trading is simply a game of probability and
with a good RRR, the odds will eventually come in your favour. This is what’s
called positive expectancy. With this simple approach, you’ll no longer see
trading as difficult. More importantly, you will attain permanent success
without the ability to know the future, which begins from your mind.
This
piece is ended with 2 quotes:
“Talking about trader psychology may stir intellectual debate,
but the real work of trader psychology is about re-working the beliefs are you
projecting onto the markets about your capacity to manage uncertainty (with
your trading account as the arbiter).
Simply being knowledgeable is never enough. It is the hard, but satisfying, work of
examining the beliefs that drive your performances in trading that matter.” - Rande Howell
“The complete trader is able to combine all or parts of the
above approaches with his own style. Trading mastery combines observation,
scientific knowledge, good judgment, intuition, and creative instincts with
decisive action.” – Joe Ross
Tap
the secret here (almost free of charge):
www.tallinex.com wants you to become a
successful trader.
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