5 Mindsets for a Successful Trader
Robert Prechter's 5 Mindsets to Help You Become a Successful Trader
These will reward you for all the work, fear, sweat, and hardships in the eleven months or even eleven years ahead. Don't miss out for reasons other than the plan determined by your objectively defined method.
1. Method
I mean objectively deterministic methods. The idea is so well thought out that if someone asks you how you made a decision, You can explain to him. And if he asks you again in 6 months, he'll get the same answer.
2. Discipline in following your method
This term is widely understood among true professionals. which among them It almost sounds like a cliche. But it's an important cliche that cannot be ignored. If there is no discipline The method was meaningless.
3. Experience
...you have to overcome problems Which mostly involves your own inner strength fighting against powerful human emotions. to successfully trade real money school of struggle It's the only school that will teach you. And tuition is expensive. than gaining experience
4. The mental fortitude to accept the fact that losing is part of the game.
There are many denials of reality that automatically disqualify millions of people from being successful speculators…
For example, complaining that there are 'blenders', 'masterminds', 'insiders', 'brokers', 'funds' or auto-trade' that you lose. Anyone who holds that belief will always lose before the game starts.
5. Mental patience to accept huge profits.
...if you want to win this game You must understand why you join this game. Big moves in the market only happen once or twice a year... Patience to be in profit without selling out before the price reaches the target
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