My Traders State of Mind trader psychology
What possesses you to suddenly, and without apparent warning, fall a part and chase a losing position? All the while desperately hoping, believing, praying that the trade will turn around. This is a critical problem that traders must overcome to become the traders they can be. Watch this video as Rande Howell explores what’s behind this breakdown in performance. And what you need to do to fix this problem so that you can move further into your journey as a trader. Watch this video.
This Month's Educational Webinar by Rande Howell is Below
The Mind you bring to the management of Uncertainty is the Real Edge in trading. It is yours to de- velop or to remain stuck in performance. And the markets do not care.
Scroll down to the 3rd video to watch this month's educational video: Scared Money - Knowing Better but Still Chasing Losers
Scared Money: Knowing Better, but Still Chasing Losers
Trading success looks so achievable until the money is real. Then something happens. After ignoring trader psychology as a light weight topic, it dawns on you that emotional self control is the name of the game. This is the missing skill. Initially, traders do not grasp that the certainty based mindset that they bring to trading will never bring success. Trading success requires developing a probability based mindset. Management of emotion and the hidden beliefs you bring to the management of uncertainty are the fundamental psychological skills needed for success.
Successful traders are not trying to control outcome by external means. They are learning to manage their internal experience and, thereby, controlling the mind they bring into the moment of execution. By letting go of the illusion of control over outcome, they learn to control the one thing they can control -- the process of trading. This is their edge over the herd. Do you want to learn how?
You become mesmerized by the allure of trading. Money (and lots of it) and personal freedom. You can just feel it in your bones. That allure drives many into trading until they are hooked on it and don’t want to stop at any cost. Then it bleeds them dry after they are sucked into the dream of trading. This scenario is played out every day in trading. That old dream is dangerous to your success as a trader. The problem with trading is not in all your stuff that leads to a statistical edge. Rather, it is the untrained brain and mind that you bring to trading. This is waking up to the real problem. You (not your system) are going to have to change. The brain you brought to trading is not going to hack it (it’s nothing personal). You are going to have to build a probability-based mind where, currently, you have a certainty-based mind when performing under stress. Come learn how. Watch this free webinar from Rande Howell, trading psychologist.
This Month's Educational Video from Rande Howell