Your mindset is Everything
Your mindset is everything.
Believe it can be your reality. Unbelief will make you quickly derail this with all kinds of thoughts.
If you don't believe you can ever trade 7-8 figures and more, you will never get to trade it.
Question you should be asking is, does this logic work? Can I repeat this same process on any pair in the market place?
That will be Intelligence in display instead.
How? Manage it in a manner that does not elevate it as the Master of your house. You are the Master of your house and your house is Trading your model. If you allow a single loss to decide your continuation as a Trader or belief in your model to diminish, you are not the Master of your house... you have given that role to your loss.
Where is the strength or logic in this? It escapes sound reasoning and invites defeat. More than defeat... it is surrender. You are essentially saying that your next trade has to be profitable or "else" you aren't ever going to succeed. You do not admit this at the time you enter the trade... but the leverage and mindset about the absence of a stop loss, come hell or high water you will take something out as a gain. Leaving no room to permit imperfection... and you wonder why you are stressed in the trade?
The sound logic is this...
"I can accept a result that is not favorable. If I follow my model, manage the risk impeccably, manage the position and take partials along the way... I will be fine. Or "else", I will need to endure needless pain and exaggerated drawdown, of which I was the sole responsible party."
See the difference there? One mindset says... "I have to win or else I fail entirely" and the other recognizes the risk of not following sound Trade & Risk Management protocols and owns the responsibility. The second mindset is open to imperfection and it sees the losses as a transaction without gain... nothing more. The first mindset sees any loss as the death blow that ends their Trading career.
Technicalities in the marketplace are useless without having a proper mindset.
Choices... we all have them. Which mindset do you want to hold fast to in this career?
Choose wisely.
Your mindset is everything.
Believe it can be your reality. Unbelief will make you quickly derail this with all kinds of thoughts.
If you don't believe you can ever trade 7-8 figures and more, you will never get to trade it.
Question you should be asking is, does this logic work? Can I repeat this same process on any pair in the market place?
That will be Intelligence in display instead.
How? Manage it in a manner that does not elevate it as the Master of your house. You are the Master of your house and your house is Trading your model. If you allow a single loss to decide your continuation as a Trader or belief in your model to diminish, you are not the Master of your house... you have given that role to your loss.
Where is the strength or logic in this? It escapes sound reasoning and invites defeat. More than defeat... it is surrender. You are essentially saying that your next trade has to be profitable or "else" you aren't ever going to succeed. You do not admit this at the time you enter the trade... but the leverage and mindset about the absence of a stop loss, come hell or high water you will take something out as a gain. Leaving no room to permit imperfection... and you wonder why you are stressed in the trade?
The sound logic is this...
"I can accept a result that is not favorable. If I follow my model, manage the risk impeccably, manage the position and take partials along the way... I will be fine. Or "else", I will need to endure needless pain and exaggerated drawdown, of which I was the sole responsible party."
See the difference there? One mindset says... "I have to win or else I fail entirely" and the other recognizes the risk of not following sound Trade & Risk Management protocols and owns the responsibility. The second mindset is open to imperfection and it sees the losses as a transaction without gain... nothing more. The first mindset sees any loss as the death blow that ends their Trading career.
Technicalities in the marketplace are useless without having a proper mindset.
Choices... we all have them. Which mindset do you want to hold fast to in this career?
Choose wisely.
Your mindset is everything.
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