My Traders State of Mind trader psychology
Taking a loss(es) raddles a trader’s mind. Particularly when it is several losses. Then an urgency to get back your money takes over the mind and you irrationally start believing that you can, in fact, make up for prior losses. Many traders fall into this trap. And their trading account suffers. Come watch Rande take this problem deeper, showing you how to solve the problem you have with making up for prior losses.
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.
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?
Learning how to take losses effectively is one of the hardest skills a trader has to develop. Until then, the urgency to make up for losses is so powerful that it sweeps the rational mind away. And in its place, the trader performs from a mind rooted in desperation and misguided aggression – to regrettable hits to his/her trading account. This is what happens when survival instincts take over the trading mind. It does not have to be this way. You can learn to be a much performer in the clutch. You can learn to take the losses (without the drama) for your long term best interests, rather than from your Caveman Brain’s short term survival interests. Register for this free webinar to see what it takes to develop the skill of taking losses.
Scroll down to the 2nd video to watch this month's educational webinar: Mastering the Skill of Taking Losses
This Month's Educational Video from Rande Howell