Successful Trading - Have a Plan For Every Trade 

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This is where emotion creeps in and attachingĀ 700 profit club Review monetary values to each trade, while important, makes it much easier to attach those emotions to the results your system is producing. This, in turn, makes it much easier for you to ignore your system periodically and trade on that emotion. And, as we know, trading based on emotion is the single biggest trading mistake you can make and will significantly lower the chances that you'll become a successful investor.

So, instead of thinking in monetary values, think in points. This lets you track your trades without introducing the emotional clutter inherent in thinking in dollar values. Whereas earning or losing $30,000 makes your heart beat faster and your palms sweat, earning or losing 30,000 points has nowhere near the same impact. It may seem like simple word games but training yourself to do this can go a long way towards completely stamping out the emotional factors that will ruin even the best trading system.

Although I'm not a particularly metaphysical kind of person I do believe that we attract what we project. If we project negativity and pessimism then we attract negative people and events. Not that the universe suddenly starts conspiring against us but negativity pushes away positive people and subconsciously sabotages what we try to accomplish by limiting the possibilities we see as logical outcomes from our time and effort. Negative attitude produces negative outcomes because negative people rarely recognize or trust the path to positive outcomes.

The most powerful and pervasive negative attitude is fear. Fear of the unknown, fear of failure, fear of what others may think of you, and fear of loss are a few of many fears that can limit you when you start investing and keep you from being successful. Fortunately, there's an easy way to overcome these fears and create a positive environment for yourself as you grow in your trading career.

  Wednesday, February 13, 2019 at 3:54:09 AM

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