7 Mantras For Successful Trading

1. Losing traders fear losses and crave profits. Winning traders eliminate both fear and greed. 
Great traders experienced a lot of losses and drawdowns in their lifes, so they don’t fear them. Losses are already familiar to them.
They know, that the biggest enemy of a trader are emotions. So the best attitude is not to be influenced by fear of loss or desire for profits. The more you fear something, the more you’ll experience it. The more you desire something, the less benefits you’ll have from it. 
If you’re scared of driving at high speeds, Formula 1 career will never be a good option for you. If you’re scared of losses, trading will also never be a activity suited for you. 
2. Losing traders care where the market will move in an hour, today or tomorrow. Winning traders don’t care where the market will go. 
Why manual traders are so attached to their positions or market direction? The deep psychological reason behind it, is that they’ve made the trades with their own hands and heads. So they start worrying about the outcome. The automated systematic traders on the other hand, let computer programs do the job, so they cannot blame themselves or the market for the outcome of particular trades. 
Why it is important in trading? The less you worry about the positions and about market direction, the less emotions can negatively impact your trading. 
3. Losing traders look for 100% return a month. Winning traders look for 100% return a year (without compounding). 
To achieve 100% return in a month, you have to trade with very high leverage. The most probable result trading with too high leverage is -100%. Winning traders use medium to low leverage. They may lose 30% from time to time, but with proper strategies, they are able to double the account every year. And if they combine medium leverage with the power of compounding , returns can be much higher.  (more…)

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