I'd also recommend you one thing that is starting to become widely popular among traders, namely Mindfulness. But make sure that you master the art of trading first. You see, successful trading has really two components to it.
One is the systematical approach that includes your training, the mastery of your tools, your experience in the markets, etc. Simply put you have to take yourself to a level where you've mastered the trading tools that are working for you.
After that, you should start your mental practice -which is the second component- and get yourself on the right path by understanding and mastering the mental side of things.
I'm just telling you this, because sometimes people are not mastering their trading tools on the right level, but they believe that they do. Then they start their mental practice journey, to end up with nothing that works. And that only creates disappointment and frustration and it kicks one back many steps!
Good Luck on your journey!
We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now. Past performance is not indicative of future results.
/George
The following 11 users say Thank You to George for this post:
the first component you mentioned, is the level of trading skill one as to reach. How can one quantify the trading skill, or the level of mastery in one´s own trading strategy/system? From time to time, i am asking myself exactly this question, but i find my answer is skaling with trading succes
You're most welcome! I am happy for you. Eventually if you put your intent on working those things out, and with the help of the adequate tools you'll strive through and come over to the other side!
We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now. Past performance is not indicative of future results.
/George
The following user says Thank You to George for this post:
If anyone wants to do some work on themselves and become a system treader with an edge there is a guide available for under $5.00. Van Tharp the very well documented trading coach is offering the paperback version of his newer book, "Trading Beyond the Matrix" for the cost of shipping (hunt around on his web site). Of course he is hopeful you will sign up for a seminar but he says you have no further obligation.
The first part of the book is a current re-cap of his prior writings on developing a system that fits you, what reasonable metrics are and some system comparison tools (noticeably missing in some parts of this web site that focuses on bell and whistle indicators).
If anybody thinks they can be successful with someone else's canned system I urge you to read the first couple of chapters of Curtis Faiths book on the famous Turtle Traders, or watch some of the seminars Big Mike so graciously arranges for us.
Most of the book is devoted to exercises and meditation methods to help you develop a state of mindfulness. Big parts of it are written by other traders describing how they managed to change their thinking (spoiler alert it isn't by doing a weekend retreat and coming home a different person). Maybe Tharp and his methods aren't for you. But I do think that you should consider that he is offering an organized, step by step method to move in the direction of this thread. He says he has included everything that is in his seminars. He has been doing this for a long time and is careful to include typical responses and objections from people attending his seminars that I found very helpful. For example in meditations where the practitioners appeal to a higher power what do you do if you don't believe in a higher power?
The following 3 users say Thank You to Trailer Guy for this post:
Having recently discovered that I was the biggest impediment to my trading success after two years thanks to an experienced trader that I contacted on another forum who guided me, I now believe that trading is hard because it's so hard for most people to change their mindset that is, their subconscious programming.Once that change occurs trading is easy and consequently making Money becomes so easy.
Thank you for these articles.They are really helping me to further understand my mind following my awakening.
The following 3 users say Thank You to Mwenga for this post:
You have a story that needs to be told. Why dont you start a thread and tell us about your challenges and how you overcame them? Are you now consistently profitable? What exactly did you identify that was holding you back and was it a pivotal moment or a long drawn out grinding process?
The following 5 users say Thank You to Grantx for this post:
Fully agree. Getting to simple is a complex journey though. Littered with the carcasses of hopes and dreams. Im still trying to find simple. Its not a map found in any book or clue from a mentor but a path that needs to be discovered all on your lonesome
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