The trading business is learnt through experience and knowledge.
Most writers of books write books because they can not make money from trading ,if these writers/mentors/signal sellers/gurus could make money from trading they would be doing it and not selling books,courses ,signals,services and software.They can not pass on their experience to new traders in the form of courses or books, experience is the key.Many of the books are like buying a dictionary ,not many of them teach successful profitable trading.They don't prepare traders for trend failures and dealing with uncertainty.
most traders start inexperienced and clueless and everything they have been sold by snake oil salesman unveils itself .All those pricks advising traders about putting two pip stops against one minute trends , are ensuring the 95 % number sticks.
The natural stress responses of humans is to protect their property , including their account from losses.The fight or flight stress responses interfere with perfect execution of trades , leaving traders with poorly executed trades/systems etc.Many responses are harmful to profitable trading i.e cutting profits in fear, scrubbing and closing profitable trades due to doubts and uncertainty and , over trading ,overexposure due to greed.There are hundreds of other personal traits which interfere with trading.
To make money from trading ,one has to run their profits when the market is giving them , and to cut losses .Trading can be quite profitable , as per example two weeks of trading.Out of 34 trades ,two or three trades made the most of the profits , but for almost 12 days the trader was making no money.This makes it mentally difficult to trade , because it doesn't fit in with the human psyche.
Our psyche requires pleasure and reward , and trading does not offer it consistently.
In plain language, this means that we have to get a certain amount of pleasure and stimulation or rewards from our daily activities and what we put into our bodies. If we don't, then we create a pleasure deficit or what is known as "reward deficiency," and are subject to depression, anxiety and poor performance. Each day we have to stimulate our reward pathways adequately if we are to function well emotionally, mentally and physically.
Look at this system performance , 112 pips profit over two weeks made from this system and examine the reward frequency.Many traders would have missed the two or three profitable trades , due to depressed trading mood, uncertainty and anxiety.These traders would end up unprofitable in the 95% club of losers, guess they were in loo when the set up came up.
80 % of trading is mastering the psyche.
Most writers of books write books because they can not make money from trading ,if these writers/mentors/signal sellers/gurus could make money from trading they would be doing it and not selling books,courses ,signals,services and software.They can not pass on their experience to new traders in the form of courses or books, experience is the key.Many of the books are like buying a dictionary ,not many of them teach successful profitable trading.They don't prepare traders for trend failures and dealing with uncertainty.
most traders start inexperienced and clueless and everything they have been sold by snake oil salesman unveils itself .All those pricks advising traders about putting two pip stops against one minute trends , are ensuring the 95 % number sticks.
The natural stress responses of humans is to protect their property , including their account from losses.The fight or flight stress responses interfere with perfect execution of trades , leaving traders with poorly executed trades/systems etc.Many responses are harmful to profitable trading i.e cutting profits in fear, scrubbing and closing profitable trades due to doubts and uncertainty and , over trading ,overexposure due to greed.There are hundreds of other personal traits which interfere with trading.
To make money from trading ,one has to run their profits when the market is giving them , and to cut losses .Trading can be quite profitable , as per example two weeks of trading.Out of 34 trades ,two or three trades made the most of the profits , but for almost 12 days the trader was making no money.This makes it mentally difficult to trade , because it doesn't fit in with the human psyche.
Our psyche requires pleasure and reward , and trading does not offer it consistently.
In plain language, this means that we have to get a certain amount of pleasure and stimulation or rewards from our daily activities and what we put into our bodies. If we don't, then we create a pleasure deficit or what is known as "reward deficiency," and are subject to depression, anxiety and poor performance. Each day we have to stimulate our reward pathways adequately if we are to function well emotionally, mentally and physically.
Look at this system performance , 112 pips profit over two weeks made from this system and examine the reward frequency.Many traders would have missed the two or three profitable trades , due to depressed trading mood, uncertainty and anxiety.These traders would end up unprofitable in the 95% club of losers, guess they were in loo when the set up came up.
80 % of trading is mastering the psyche.
