Is it possible you secretly want to lose? I know, I know . . just listen. Self-destructive behavior can easily manifest itself in the markets, particularly among day traders. When the price is dancing around in front of your eyes, it can take a grip on you. You can start to feel like it is playing with you. This is why you have to be very, very careful to avoid emotional trading. If you’re a boiling cauldron waiting to explode, then you’re heading for a seriously bad experience in the market.
Don’t get emotional about trading. Remember the current trade is only one of a long series. You’re in this for the long term. Remembering that and don’t, ever, get too attached to any one trade. You must see yourself as a professional trader.
At the start of each trading day, before the market opens, take a few minutes for yourself. Close your eyes. Start visualizing the market. See the real –time chart on our computer screne. Watch as the prices gyrates up and down. See yourself entering a trade. Notice you feel relaxed. You get a losing trade. You’re alert but calm. Completely not emotional. Observe how the price moves after you entry. How it comes close to your stop loss.
Mentally place a number of trades. Follow them through. You get a losing trade. Notice you see the big picture. You are unemotional. Completely calm. You put on another trade. Again, another small loss. You are unperturbed. Next a winning trade. Again, you are relaxed. It’s all part of the job. This takes practice. And you must do it regularly to get the maximum benefit. Try it every morning, and any time you even begin feeling stressed or you lose your focus. The advantage of this technique is it is FREE. And the payoff is excellent.
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I hope you will learn from my years experience as a professional trader.