What to do with your winning trades ? (IMPORTANT READ)
1. Gold
2. EURUSD
3.NZDJPY
4. AUDUSD
Other than the usual adjusting of your SL , take partial profits and letting the remaining positions run till end of trend, there is one often neglected area that traders fail to do.
That is, count your blessings (literally). By that, I mean, print out from your system the winning trades showing the profits on the charts (example as above).
These winning charts with profits are powerful anchors that would help you through any storms that come your way. As you already know by now, some days you win and other days you lose. You can have 40% winning rates only and still be profitable at end of the month.
Or on days when you feel out of sync (quarrel with wife/GF/BF, lousy day at work, etc) and you could not trade. Instead of forcing yourself, bring up all these profitable charts and allow yourself to be immerse fully in the mood of winning. Let the feelings fill you up slowly. Now, this is important because you are not borrowing it from others and pretend to be yours. That is called modelling and some of us find it hard to replicate that.
Here, no matter how small the profits are, it is your very own and you should be very proud of it. I shared when I first started in Forex, I had profits as small as 0.50 cents as I was struggling to learn charting. I made the most mistakes at this stage but also learnt a lot as well. I can sleep soundly at night without waking up to check the positions as the losses are small to begin with.
Currently, I have keep in my computer hundreds and hundreds of winning charts (only winning, delete the losses) and I use this to motivate myself , set higher goals like making 4 figure income within a day, etc.
Some may think that by showing only winning trades and not the losing trades, one is in denial stage. This is an important area that I spent quite a lot of time to sort it out and glad that I do. Now I share it with all of you.
You see, when you filled your mind only with the positive, winning trades, you are also crushing and pushing out of your mind any available space that negative, losing trades might want to infiltrate(even you do not print it out and see it). By forcing yourself to view these winning trades daily, you become the director of your own mental movies, controlling the direction you want it to go and not let it sway and operate like a roller coaster.
We spent a lot of time (unconsciously to many) in our own self -talk and the latter derives from the past experience that you had. You use these experiences and extrapolate into the future. At each step, you begin anticipate what would be the next step based on what you had been through before.
So, if you are trading EURUSD (for example) and you had 2 losses in the past. If you still hold on to these losing trades in your mind, blaming yourself for not following the rules, being greedy to take on more than you can chew (extra big position size), then when you pull the trigger, your hands would be shaky. Your confidence is affected by the past experiences.
To overcome this, you have to replace the actual bad experiences with fictious ones , the imaginery positive ones that you want. That explains why I had shared about limiting the number of pairs you trade so you can establish a patterns and also have a track record.
Initially, you might find this role play in your mind awkward or even not authentic but over time, you would begin to see it unfolding in your trading seamlessly. What you deposit into your mind is much more important than the art of spotting winning trades.
You can be a good spotter but if you are unable to let go of the losing trades and allow it to hold you hostage and kidnap you to pay ransom, then you are not a free man. You are in jail, one that is created by your own mental block. And you are the only person who can set yourself free.
Digest these words carefully, practise it slowly, have patience in the process. It comes easily to some people while it may take a longer while for others. It does not matter. There is no competition here. The important thing is the ability to control your thoughts.
Your thoughts will lead to the words you speak from your mouth. And your words will dictate the actions you take. Your actions will determine the character you have and lastly, your character over time will determine your destiny.
2. EURUSD
3.NZDJPY
4. AUDUSD
Other than the usual adjusting of your SL , take partial profits and letting the remaining positions run till end of trend, there is one often neglected area that traders fail to do.
That is, count your blessings (literally). By that, I mean, print out from your system the winning trades showing the profits on the charts (example as above).
These winning charts with profits are powerful anchors that would help you through any storms that come your way. As you already know by now, some days you win and other days you lose. You can have 40% winning rates only and still be profitable at end of the month.
Or on days when you feel out of sync (quarrel with wife/GF/BF, lousy day at work, etc) and you could not trade. Instead of forcing yourself, bring up all these profitable charts and allow yourself to be immerse fully in the mood of winning. Let the feelings fill you up slowly. Now, this is important because you are not borrowing it from others and pretend to be yours. That is called modelling and some of us find it hard to replicate that.
Here, no matter how small the profits are, it is your very own and you should be very proud of it. I shared when I first started in Forex, I had profits as small as 0.50 cents as I was struggling to learn charting. I made the most mistakes at this stage but also learnt a lot as well. I can sleep soundly at night without waking up to check the positions as the losses are small to begin with.
Currently, I have keep in my computer hundreds and hundreds of winning charts (only winning, delete the losses) and I use this to motivate myself , set higher goals like making 4 figure income within a day, etc.
Some may think that by showing only winning trades and not the losing trades, one is in denial stage. This is an important area that I spent quite a lot of time to sort it out and glad that I do. Now I share it with all of you.
You see, when you filled your mind only with the positive, winning trades, you are also crushing and pushing out of your mind any available space that negative, losing trades might want to infiltrate(even you do not print it out and see it). By forcing yourself to view these winning trades daily, you become the director of your own mental movies, controlling the direction you want it to go and not let it sway and operate like a roller coaster.
We spent a lot of time (unconsciously to many) in our own self -talk and the latter derives from the past experience that you had. You use these experiences and extrapolate into the future. At each step, you begin anticipate what would be the next step based on what you had been through before.
So, if you are trading EURUSD (for example) and you had 2 losses in the past. If you still hold on to these losing trades in your mind, blaming yourself for not following the rules, being greedy to take on more than you can chew (extra big position size), then when you pull the trigger, your hands would be shaky. Your confidence is affected by the past experiences.
To overcome this, you have to replace the actual bad experiences with fictious ones , the imaginery positive ones that you want. That explains why I had shared about limiting the number of pairs you trade so you can establish a patterns and also have a track record.
Initially, you might find this role play in your mind awkward or even not authentic but over time, you would begin to see it unfolding in your trading seamlessly. What you deposit into your mind is much more important than the art of spotting winning trades.
You can be a good spotter but if you are unable to let go of the losing trades and allow it to hold you hostage and kidnap you to pay ransom, then you are not a free man. You are in jail, one that is created by your own mental block. And you are the only person who can set yourself free.
Digest these words carefully, practise it slowly, have patience in the process. It comes easily to some people while it may take a longer while for others. It does not matter. There is no competition here. The important thing is the ability to control your thoughts.
Your thoughts will lead to the words you speak from your mouth. And your words will dictate the actions you take. Your actions will determine the character you have and lastly, your character over time will determine your destiny.
Comentarios:
markets.businessinsi...ts-2020-6-1029272938
Comentarios:
2500 ,a round number is the resistance it is currently facing. 2450 is the support and seems like buyers are still pushing the price up. Last candle was a bullish hammer signalling a bullish continuation pattern.
Comentarios:
High can go higher and buying at high from a psychological point of view can be a scary feeling. It is like reaching the top of a building and looking down. One can't help feeling if they will fall with one mis-step.
