A Trader’s Mindset Daily Thoughts

“Do the best you can until you know better. Then when you know better, do better” Maya Angelou.

Many Traders give up trading after encountering few losses, it's important to understand that trading is not complicated if it was complicated then why do traders with basic skills and little technical knowledge make it, it's simple they have a trading system that works for them they don't have to know all the technical indicators to make it through the stock market, as I have discussed in prior articles the less you focus on your technical indicators the more you make profits, just go with your plan rinse and repeat the process, it's that simple.

Remember since trading is all about mindset, by putting so much weight on the chart or your edge you already pre-convincing yourself that this trade will be working into your favor and if the trade does not follow through this mindset will blind your judgment in not following your set plan with excuses, as a result, many traders commonly end up averaging down (adding more $$ ) or accepting further losses & and is #1 reasons why many traders end up losing major capital.

What you need to work on is your plan, KNOW BETTER by doing better do not let EMOTIONS get in the way.

Trade with conviction in your plan.

No one likes to get on losing trade, I have indicated prior articles “There is a random distribution between winners and losers” Mark Douglas. Therefore all your need to focus on is your plan certainly not your emotions. Once your trading plan is working for you upgrade your knowledge to reach higher trading goals.

The above was food for thought.

I hope you found this article helpful to stay tuned for more.

Yours truly,

A trader’s mindset