Wednesday, August 11, 2010

Consistently Successful Trader Affirmation

1. Technical Analysis-For Behavioral Patterns
Mental Analysis-Think like a trader.

2. Attitude-
a) I take 100% responsiblity for my success as a trader.
b) Winning Attitude-I expect a positive outcome for my trades while accepting that whatever outcome I get reflects my development as a trader and what I need to learn to do better.
c) Self worth- I am a worthy person. I am a valuable person. I derserve to be rich. I deserve to be a multi-millionaire.

3. Beliefs-I trade without fear.
a) I align the 5 fundamental truths of trading into my mental environment.

i)Anything can happen, just need one trader to negate the positive outcome of my trade.
ii)Every trade is unique and independent of one another. No 2 moments are the same.
iii) I do not need to know what is going to happen next to make money since there is a random sequence of wins and losses in a given set of variable.
iv) There is a randomsequnce of wins and losses in a given set of variables defined aa an edge. Every loss brings faster the next win.
v) An edge is nothing more than a higher probabilty of something happen over another. I must keep the odds in my favour and take a large enough sample size. I need not second guess or add new variables since the probabilty is fixed, since anything can happen.

b)
i)I predefine the loss of every trade.
ii) I accept the loss
iii)I pay myself as the market makes money available to me.
iv)I objectively identify my edge.
v) I act on my edge without reservation and hesitation.
vi) I continously monitor my succeptabilty for any trading errors.
vii) I understand the nessity of the above 6 principles of consistent success and I will never violate them.

c) Changes
I am a consistently successful trader
Observe my thinking speech and actions.
Self discipline and Refocus.
New identity

d) My beliefs-
There is no truth. Beliefs are either useful or useless to what I desire to achieve.
Beliefs determine everything.
I will channel more energy into useful beliefs and deactivate and draw out energy from my useless beliefs.

4. Beliefs - I trade without recklessness.
I have rules boundaries and restrictions (when do i enter, how much do I enter, what to take loss and when to take profit) to guide my trading.

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