Along your trading career you will face the greatest enemy of all, yourself! Know and become aware of yourself is one of the most important step to be a successful trader. I have shown you how to change your paradigm, and now I will show you the difference of mentality needed between my system and most trading systems.
- Iron Gut and Tiger Claw.
Nope, you do not need this with my system.
Have you ever felt uneasy, nervous, and uncertainty when you are about to enter a trade? That feeling is a defense mechanism and it is very natural. It is a human nature to defend himself from any danger by generating an instinct regardless he is aware of the danger or not. Therefore your trading uneasiness signals that there is something wrong with your system. But, alas, most of trading systems requires you to have iron gut and tiger claw. Even though you have lost three times consecutively, you need to have an iron gut to enter the trade for the fourth time. You need a tiger claw to click the mouse and you need to be a robot without feeling executing your trades, etc.
How many of you start trading and loss your account because you did not stick to your stop loss and then you promise to yourself that you will stick to the system and cut your loss every time needed but you still loss your account in the end? Recall what you felt all those time. The uneasiness occurred because deep down you did not trust your system. You have blindly followed a fundamentally flawed system, your body signaled that there were something wrong, but you did not listen to you instinct. Next time you feel uneasiness, you stop trading and ask yourself why do you have this uneasiness feeling and find out before you continue trading.
With my system, especially with no or very low leverage, you will not have this uneasiness feeling. You know that you will win every trade; you know that the system makes sense; you know that your ROI target is achievable. Then you will naturally trust the system and follow it.
It is hard to be discipline executing your trade if you don’t trust your system. If you know the logic behind your system, you will believe and trust your system; then discipline to follow your system will be natural and easy. With my system, you will plan everything in advance; what pairs to trade and why, what is your target profit, what leverage will be used. Daily trading routines will be just monitoring and executing your plan. You do not make analysis, get confused and make a decision every time you want to enter a trade. Therefore it is much easier to be discipline.
Most trading systems will require you to have a very high patience level. You will need to be patience to wait for a good trade and to wait for the correct entry and exit time. Patience with this kind of system is very important; your entry and exit timing will determine your profit/loss for each trade. But be honest, most of us are not patience enough to wait for that time comes. Very often we get to the trade too early and take our profit less than our target. The reason is we are afraid that we are going to miss the opportunity and we are afraid that if we do not take the profit now the price will make a u turn and we will close the trade with a loss. Patience is very hard here because you are still in confusion.
Let’s compare with my system. When we have planned everything in advance and you have known in advance what price you want to buy or sell and what is your target profit, then you just set limit orders. Your job is to monitor your trade. Patience is still needed but not as important as most trading systems.
- Greed and fear
With most trading systems the feeling of greed and fear is very high. You will be afraid to enter every trade, because you realize that you will not know the result and you don’t have a complete trust of your system. You will be greedy to make up for your lost. You will be greedy because you do not know when to take profit and you do not know why you take that certain pips as your target profit. You will also be afraid to take higher profit because you have had many experiences that the price had been reverses and take your stop loss.
With my system, especially using no or very low leverage, you will not have any fear at all. Because you will know that you will win every trade. You understand that any trades that have not reached their target profit are just the trades that need to work harder before reaching their destination. And you also know that those trades are making more money for you from the daily swap. You have confident that your capital will stand against any drawdown regardless how big it is.
You can control your greed because you know why you take certain amount of target profit. You are not afraid anymore if your trade reverses back, because you will know it is just a matter of time before your trade reaching its target and in the mean time you will get profit from daily swap.
- Self Destruction
Trading is a lonely business. You can do everything by yourself, you do not need any employees, you do not need your wife or your husband, and you can decide everything by yourself. Your fate is in your hand. If something wrong happen then it is solely your fault. If you are falling down, learn from it, wake up and continue your journey.
Some point in your trading journey you will have a burnout feeling. This is the most dangerous time, you will have a tendency to deviate from your plan and take unnecessary risk cutting corner to make big money. You will overtrade and overleveraged. Be aware over this situation, I have warned you.
Pressure from inside and outside will break or make you. Master yourself, then you will become a successful trader.
- Survival mode
Trading Forex is a survival game. Safety First! You always have to think the worst case scenario; how to prepare, how to avoid or to minimize it. Do not trust any body and always prove it by yourself.
Remember that every aspect of Forex Trading has been rigged to break and take your money away.
- If you have a trusted trading system, confident, patience and discipline will come naturally when you execute your trade.
- If you experience uneasiness feeling, that is a signal there is something wrong with your system. Stop trading at all and evaluate your trading system until you find the solution.
- If you have a 100% winning trading system, your fear will be gone.
- You will face your greatest enemy of all, yourself. Know and become aware of yourself, your strengths and your weaknesses.
- I can’t stress enough over and over again; Forex Trading is about survival and safety. Always be prepared for the worst, always know the consequences. If you take care of the risks, the profit will come by itself.