Self-Confidence plays a vital role in trading success. I want to share a few things that helped me develop a winning and positive mindset. As a trader 3 vital things which every trader should focus on are mentioned below
- Burning Desire – Market will test your will power, Its a school of hard knocks and if you do not have a burning desire to be successful you will lose out pretty early. Be prepared for all the eventualities and never say die attitude is must if you want to be a successful trader.
- Definite goal – Have both Financial and Psychological Goals . Make Goals which are realistic and achievable. Make small goals, if you are achieving small goals consistently than move towards bigger goals. This should include the amount of money you want to make and when you want this money in your account.
- Definitive plan Here’s where you detail how you are going to trade, what you want to do and what you do not want to do.
Read the below statements a loud before market opens it will give you positive vibes to start your trading day.Its has been proved by research Daily Affirmations Will Improve Your Trading Result
What the mind of man can conceive and believe, it can achieve” – Napoleon Hill
- I am a successful and Disciplined trader.
- I will follow my trading plan consistently
- I will not take any unplanned or impulsive trade
- I will record all my trades in my Trading Journal
- I will record all my mistake in my Trading Journal
- I will protect my capital through good money management.
- I will practice proper risk management
- I will trade according to what the market IS doing, not what I think it ‘should’ be doing
- I will only take trades as per my trading system and trading plan
- I will not see any Blue Channels or Social Media Site till my traders are ON.
- I am not emotionally affected by my profits or losses
- I will not do any kind of over trading
- I’m a professional trader not a Gambler
- I will not interfere with my trades once they are LIVE
- I will be rigid in my rules and flexible in my expectations.
- I will treat trading as a probability game in which I don’t need to know what is going to happen next in order to make money.