How Trading Psychology Works


As a trader, you must be determined to stick to a strict code of mental discipline if you want long term success. If you don’t follow your own rules there will be nobody to blame but yourself. Know your goals, understand your trading strategy and approach, and have clearly defined rules for yourself. Follow these with a disciplined mental approach and very little can stop you.
The corner stone to making profits and trading well in the markets is to shift the focus from making (or losing) money to the actual process of trading well. You control how you trade; the market controls how and when you’ll get paid.
This is one reason that trading with rules is so important, having a trading plan. Your focus becomes one of trading well, not one of making money in a short period of time. Every rule followed—every instrument/
pair traded well—is a success experience in the process sense. Over time, profits result (as long as the rules are sound!), but the confidence comes from self-mastery.
Master yourself and you will master your trading.

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