Successful Traders Mindsets

it is all about risk. knowing that the risk of a loss is lower than the chances of a win mean that the trade is worth going for

If you have perfect technical analysis, you have a 30% chance of winning, that's 2:1. They will lose twice and win once on average. So the ratio of stop loss and take profit is 3:1. So that you can win 3 times. And 0 emotions are allowed to play along. 1 strategy without emotions and you will win. And also look at the news and the sentiment to reduce the probability to 50/50.

TexasRitterr posted:
If you have perfect technical analysis, you have a 30% chance of winning, that's 2:1. They will lose twice and win once on average. So the ratio of stop loss and take profit is 3:1. So that you can win 3 times. And 0 emotions are allowed to play along. 1 strategy without emotions and you will win. And also look at the news and the sentiment to reduce the probability to 50/50.

Emotion when trading usually will leading to making bad decisions, better stay away from the market when facing high emotional pressure. A successful trader will work with knowledge and experience not based on emotion

Yust be like an expert adviser with a brain. Be a robot, be a machine.

TexasRitterr posted:
Yust be like an expert adviser with a brain. Be a robot, be a machine.

I’m that’s actually not a bad advice. You need to be cold hearted while trading. Emotions are killer of risk management. Even if you are going down, being calm is what you are supposed to do.

A successful trader is more focused, disciplined, and resilient than other traders. Moreover, they are able to manage their emotions and maintain a level head, even in the face of market volatility or losses.