With my Experience as Trader and also as I ahve discussed many time TRADING IS DONE VIA SUB CONSCIOUS MIND , My GURU emphasized on me NOT to use the below Words when am doing my technical studies or trading as they become road blocks for becoming a Successful Profitable trader.
“The market should have” and “I should have”. Those phrases are often used to make you less accountable for your losses. They should be used to aid you in correcting your vision not make you feel better.
“The market must…”, “I must make money”, or “I must trade”. The market does not have to do anything and either do you. When you use the word “must” it is hardly ever from a position of strength. The market knows when you are desperate and will take full advantage of you. Keeping your expenses as low as possible will make it easier to not make those statements.
The word “will” relaxes your mind, similar to “should”, people use it to be Hide mistake and blame market for loses. You can do everything right and still lose money. That is why trading is so effective at diminishing confidence. In most every activity, if you do everything right you are going to get the desired result. Doing the “right” things is bare minimum. Of course, over time you will get paid for doing the right things but it is never when you think it should be and hardly how much you anticipated.
“The market won’t…” or “I won’t make money”. Notice a theme here? You are part of the market, you are not the market. Not getting what you expect, even if it is positive, confuses the brain. If you expect to lose and don’t it is still a bad outcome. The market is a one way walkie talkie, you listen, it talks.
“The market can’t..” or “I can’t…” or “I can’t lose anymore”. Yes the market can, be irrational over an extended period of time. No one ever said trading was easy but at least in the case of futures someone is taking your money. If you think you can’t, you probably wont. The market will take every penny you have. If can take every penny you put at risk. Fix the problem, when you run out of money it is too late.
“It is impossible to make money”. Once again someone, somewhere is making money. It may not end up being an efficient use of your time or capital but it is possible. You are substituting an excuse for execution.
“The market does not make sense”. Many fortunes are made in an illogical market. Logic is a bigger driver than risk controls for most people. It is easier to ignore your P/L when you can see or touch the catalysis. Logic will eventually prevail, with or without you.