You Need A Trading Mindset

This is the second issue in my “Get Started Trading” series.

After getting setup to trade, I think the most important thing a trader must have is a “Trading Mindset.” Why? Because the mindset needed for successful trading is not logical or intuitive. And, it takes consistent practice and discipline to master a trading mindset.

I detail My Trading Mindset in this post. - https://howitrade.me/my-trading-mindset/

Successful trading is a combination of skill and discipline. Every unprofitable trade I have ever made was caused by letting my emotions into my trading decisions. Emotions kill trades by7 messing with your discipline.

Discipline and trading rules are also requirements for profitable trading. I have many examples of awesome trade I made that went bad because I got greedy (an emotion) and did not exit a trade at my profit target, or because I did not set a profit target for the trade in the first place.

Finally, all my trading success is a result of my choice to “keep trading.” I trade after bad things happen. Instead of crying, I focus and look for the lessons I can learn from a bad trade.

Overall, building my trading mindset has helped my trading get better.

That’s it for this issue. Next issue I will share the latest insights on My Trading System.

Happy trading!