Trend following and news trading strategies. But this is only the easy part of the system. :)
First of all: Everything is subjective.
It all boils down to personality and a strong trading system. Trust your system, stick to it, but modify it to the current market needs.
Technical analysis is only 10%. 90% is your personality. Be honest with yourself, admit your mistakes then try to figure out what went wrong really. Try to correct it. If you think you won't remember it next time, use (trading-) and psycho diary.
Have strong lifegoals, what motivates you. Create a personality developing system. Identify your bad habits what are holding you back from success. Habits can be replaced only, it is much harder to just shut a habit off completly.
Plan your life. Set milestones. Divide 'big goals' to smaller ones, and take them one in a time. This requires patience and work in _everyday_ basis!
'Everything is helping you to achieve your goals or moving you away from them.' You need to identify these habits/people/events/etc. then deal with them.
Reinterpret this word in your dictionary: Failure
Failure is a gift, a lesson, what we can learn from. It's a ticket for a new ride. Play with it. During reinterpreting failure, watch yourself, your emotions, reactions. Practice thinking-about-thinking. Try to catch your subconscious mind's messages, they are called emotions. Emotions are reactions. A result of a neural network. Neural network has 3 abstract layers: Input, hidden, output. Output is the emotion. You know the Input, for example it's a loss on a trade. Your job is to work on your Hidden layer. And this can be achieved using thinking-about-thinking. Get yourself into a little neuroscience. We have a remarkeable organ, called brain. We can rewire it, to suit ourselfs, our goals. That is called learning.
There is not a good, or a bad feeling. They are just feelings... they are as they are.
There is a saying. 'Be a better man than your father.' You are the only one who can stop your hidden habits vicious circles.
I still trading in demo only. I'm planning to start a real account within a year.
Forex gave me much more than just trading. It made me a better man, what is already a big success for me.
You can sum it up with the following phrase: plan your trade and trade your plan.
I agree the most of the 'hard work' in trading is being able to stick to your trading plan and make sure it is executed up to the pip. Once you remove the psychological aspect, it becomes very trivial.
Personality Development is one of the most important factor that one can develop in this growing digital world everyone wants to be perfect but its not in our hand because we don't know the basics of personality development so to cover all aspects of personality development Seven Mentor came up with Personality development courses in Indore.
This post is great. I really enjoyed reading it because it is really precise and sensible. Surely, we should use our pains in order to develop and improve out trading strategies. Thinking-about-thinking is very important because every trading strategy should always undergo some alterations because of the fact that the market is extremely dynamic and changeble.
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