1. Technical analysis- Behavioral patterns
Mental analysis-Think like a trader.
2. Attitude:
Take 100% responsibility for my success as a trader.
Winning attitude: Expect a posistive result with the acceptance that whatever results refelect the stage of my development and what I need to do to be better.
I am a worthy person. I am a valuable person. I deserve to be rich. I deserve to be multi-millionaire.
3. Trade without fear:
a) Anything can happen
Every moment is unique.
I predefine the risk of my every trade
I accept the risk.
I pay myself as the market makes money available to me.
I do not need to know what is going to happen next to make money.
There is a random sequence of wins and losses in a given set of variables defined as an edge.
An edge is an indication of something happening over another.
I have to keep the odds in my favour for every trade.
I have to have a large sample size.
I objective identify my edge.
I act on my edges without reservation and hesitation.
I continually monitor myself for any trading errors.
I understand the necessity of these principles of consistent success and I will never violate them.
b) I am a consistently successful trader.
Observe and refocus.
Self discipline and refocus.
New identity.
c) Beliefs affect everything.
There is no truth, just useful or useless beliefs.
I channel energy into my useful beliefs and draws energy from my useless beliefs.
4. Trade without recklessness.
I am a mental structure (rules, boundaries and restrictions) on when to get in, when to take profit, when to take loss, how much to play.
Monday, August 16, 2010
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