Topic: My trading constitution. - page 6. (Read 827 times)
Trading doesn't give money when you don't know the rudiments of Trading, many people has been handicapped financially today because of trading due to what they had in mind before coming to trading is to make millions, but that's not how trading works, because you make profit in trading you most have known the necessary scopes related to the conditions and the timing before you can as well venture into Trading, with what your concept implies it pointing that trading is not risk business, while in trading two things are involve, either you end up on the disadvantages aspect of trading or the advantages aspect of trading. But when you see some people discussing and narrating on trading, you may think its easy and when you enroll in trading you will make surplus profit. Op want you withdraw with some of your conclusion or statement concerning trading.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
You are totally wrong with that statement. Trading is not 90% psychology it is 100% real and have rules. I agree that control over ones emotions is a necessity for traders but calling it a 90% psychological game isn't a fair statement regarding trading.
Your confidence automatically builds up when you trade for more than a year. You will learn that trading requires understanding of the market during that year and your mistakes will guide you as a teacher. Even if you have a profitable system you won't have consistent gains. Trading isn't an easy thing and having constant gains with it is almost impossible unless you own a supernatural power.
You are wrong because a trader can be disciplined without gaining profits most of the time. It's the losses that help you to be disciplined. If you lose more you chances will increase because you will have learnt big lessons from the losses.
Now the final statement makes sense as it's required to have a profitable system set with proper plans, good strategies and timing. If all those are with you then your chances for having good profits is a confirm thing. You should also keep in mind that trading isn't a get rich quick scheme and that's why a proper trading system is required with have good gains from it.
- you can't build confidence without a profitable system.
I agree with this point because when you are having a profitable trade then it will build your confidence level. If you have failing trading system, the confidence is not there anymore. This is why at any time you begin to make profit, the confidence level increases. However, building a profitable system is a task that is very difficult to achieve.
- you can't be disciplined without a profitable system.
How do you mean by this maybe you need to explain on this Being disciplined IMO is not about having a profitable system because you can be loosing while being discipline as losing can also be temporary.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
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