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MOT #41 - Building Strength From Your Losses

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

If we have expectations of always winning, we are setting ourselves up for a large amount of disappointment and frustration. The best traders have realized that by truly understanding that trading involves wins and losses and what to do with each ... read more
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MOT #42 - Tomorrow is Too Late

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Trading has many ups and downs and can easily cause us to feel defeated. However, defeat can only be disastrous if we classify it as disastrous. Losses, defeats, failures, etc. have been a part of history for every person who has reached high leve... read more
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MOT #43 - Fix Your Eyes Forward and Not In The Past

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Some of the greatest successes have been accomplished not long after a person had reached the end of their rope. They had been beat down so much they had their backs to the wall and were ready to quit. but they did not. Trading can easily cause us... read more
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MOT #44 - Just Be Yourself

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Success in all aspects of life seem to follow those who do not try to act like someone else, but rather have a foundation of knowing who they are and act in that manner. Many traders seem to want to act like other traders who have recently had a s... read more
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MOT #45 - Your P.R.I.M.E.R for Successful Trading

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

All successful traders know what they need to do and then they just do it. Their monetary results are not the focus for them. It is the process and the ability to follow it consistently that keeps them at the top of the trading world. Each of us m... read more
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MOT #46 - Decide To Believe That You Can

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Emotions can be a roller coaster for some and a gentle road for others. Successful traders make a conscious decision that no matter what happens during their trading session they will stay calm and in control. If you truly believe that you can do ... read more
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MOT #47 - The Power of Fear

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Fear can be a very powerful emotion, yet for some it can cause disaster and for others it drives them towards new levels of success. As a trader we need to analyze and understand what causes us to be fearful when we trade and how it affects us. Th... read more
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MOT #48 - Focus on the Bulls Eye

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Every day that we trade, we need to ensure that we have a specific goal in mind. Without any goals, we will never know if we had a successful trading session or not. Profit is not the only indicator for success. The best traders continue to fine t... read more
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MOT #34 - The Miracle on Ice

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

The Miracle on Ice at the 1980 Olympics was an amazing story. That hockey team did not just win because they were good. They won because after a lot of hard work and frustration, they all realized that they had to do something different than every... read more
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MOT #33 - Commit to... "A Little Bit More"

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

The most successful people in any area of life seem to do what most others also do, but then they do "A Little Bit More". In trading, many of our friends and associates who do not trade will try and convince us to quit. This is mainly because they... read more
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MOT #16 - Warp Speed or Turtle Speed?

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

A lot of statistics are published about the number of traders that are 'successful' even though we don't always receive their definition of successful. Whether it is 70% or 95% of new traders that are said to lose all of their capital in the first... read more
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MOT #15 - Have you Asked Yourself... Why?

posted by Avatar warrenbuffet 1432 days ago in Trading Psychology

Why do you trade? This might sound like an easy question, however many of us do not really know the answer. Once we discover our true reason for trading, then there are many other questions that will help us become a better trader. If we will take... read more