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The psychology behind a great trading performance

trading winning mentality

The Winning Mindset.

Anyone can learn how to trade. The technical trading know-how of the craft is readily available through online courses, tutors and mentors. But this is only half of the trading equation.

The other half, the part that can’t be taught to just anyone, is the trader’s mental game.

Technically proficient traders who don’t master the art of the mental aspect will quickly learn that all the book knowledge in the world can’t make up for a shaky mental mindset.

Tips and tricks can be taught (we’ve covered the mental game thoroughly in past articles) but it is only through experience and time in the market that mental fortitude can be built.

Battling Counter Intuitiveness

One of the first mental hurdles you’ll encounter in the market, is the seemingly counter-intuitive nature of the arena.

For example, let’s take the well known phrase “there’s not harm in taking a profit.” On the surface, sure, it would seem that taking a profit is always a good thing, right? Wrong.

That’s because if the profit is only after 1 pip, there’s going to be harm in it.

Fight or Flight Mentality

As humans, we’re conditioned to panic and freak out if a trade doesn’t initially go our way. The problem with this ingrained mindset is that many successful trades might take a while to develop. A trade that looked awful shortly after placement, could develop into an incredibly lucrative win.

Successful traders need to be strong enough to face the reality that not every trade is going to look great from the get go or even after a long period of time.

Rather than panicking, a good trader recognizes that losing or not winning immediately is simply part of the trading job. Building up patience and tolerance for failure is critical.

The Perils of Trying to Avoid the Pain with an Automated System

In order to minimize the effects of anxiety, stress, and all of the other feelings that come with trading, many traders are turning to automated systems.

These systems effectively take the emotions out of trading by replacing the human element with a machine.

The problem with this is approach is that it is very hard to find a system that will perform in a manner that brings consistent returns. The web is full of offers, guaranteeing immediate success, but the reality is, most of these systems will not perform in a way that ultimately benefits the trader.

If you want to explore the automated system avenue, we recommend you build your own system. It may seem daunting at first, but with a good tutorial and expert advice, it is possible to create your own, effective system.

Before Each Trade, Ask Yourself a Question

Ask yourself questions like “If I take this trade now, and it fails, will I beat myself up?”

This question is especially important for traders who find themselves quickly making a trade only to regret it almost immediately after.

By asking yourself these types of questions, it will help you think through the consequences of each trade. It is very easy to lose sight of your goals while you’re looking for immediate market moves.

This question can help stop you from jumping right into a trade that you might later on regret.

Mentally Map Your Trades Out

Even if you have a good idea of why you made a trade, take a step back and try to understand on it on a larger scale. Look at the weekly, monthly, and even yearly implications.

Constantly remind yourself why you’re pursuing a certain trend or system of trading. By doing so, you will help stop yourself from potentially jumping to and from trends, looking for a quick profit here and there.

Stay in and Let the Trade Do the Work

Finally, never forget that the most successful traders have all experienced losses. The difference is, most of them have been able to see the bigger picture and not get lost in the micro.

As you trade, constantly analyze and keep your focus broader so you don’t get caught up in the small day-to-day disappointments. Zoom out and see it as a long arch, not just a short, quick, jump up or down.

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