Guest post from www.visionsofaffluence.com
So you want to be a trader? You buy all the books, hang out on the most popular forums, and try every technique and indicator you come across, but still you get no where. So, then you but even more books, spend more time o forums, and try even more techniques and indicators. And still none of it makes a difference and you can’t figure out why. Well I’m here to tell you why. Quite frankly, you’re the reason you can’t trade successfully.
You see what most people fail to realize is that trading is about 90% mental and only 10% technique. That means that you can have the best system in the world, but if you don’t have the right mindset then you’ll never be successful. This is something that most traders never think about and consequently why so many of them are doomed to failure. It’s unfortunate because trading itself is actually pretty simple. That’s right contrary to popular belief trading easy. All you have to do is find a method that works (and there are plenty of them by the way) and implement it. But see therein lies the problem, we as humans have to implement them.
A lot of times people find trading methods, use them, fail to profit, and then come to the conclusion that the method doesn’t work when a lot of times its not the method, but rather the implementation that causes the problem. We come along with our emotions like fear and greed and make a mess of things. We don’t trade when we should or we trade when we shouldn’t. We get greedy and hold trades too long or we take profit too soon. Or we make the biggest mistake of them all: we trade with position sizes that are too large for our account size. All of things and more add up to make trading difficult when it should be so simple. So, if you want to start actually making a profit from you trading then stop looking for the newest method or sexy indicator and start working on yourself.
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