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Have you completed lesson 11’s action steps?
If not, complete those steps before reading on.
Please Note:
This chapter has been submitted by Norman Hallett, Former Trader
and CTA President Subconscious Training Corp. For more information
on Norman & his products please Click
Here. |
You’ve Got a Great Trading System… So Why Are You Losing?
You’ve done your homework.
Countless hours of seeking out the right guru (or piecing together
your own system). Weeks of monitoring your guru’s daily trade
picks (or paper-trading and back-testing your homemade system).
You’ve done it by the book.
No seat of the pants trading for you!
OK, now you’re confident. It’s time to put your money where
your homework is.
You’ve had your coffee and your first trade signal is before
you.
Confidence high. Trade made. First loss. Not a problem.
You understood before you started that successful traders both
win and lose and “losing is part of the overall winning”. You’ve
also heard more then once that “successful traders don’t win
on every trade.”
Moving on, still confident. Next trade made. Another loss, but…
This one hurt your pride a little because you got stopped out
early in the trade, and then the market rebounded and would
have hit your profit target if you weren’t stopped out.
You double check.
Yep, you placed the stop where your trading system told you
to place it.
You kind of had a feeling that the early weakness in the market
was just profit-taking from the previous day’s trading, but
you’re trading a system and you must stick to it. Wounded, but
resilient.
After a good night’s sleep and a few mouse clicks, your new
daily trades are in front of you.
Hey, this one looks good! It’s a little bit more risk than yesterday’s
trades had, but look at that profit potential!
With a smiling face, the trade is executed. With a nice start
to the trade, you’re feeling good and you’ve moved your stop
to breakeven, just like your system said.
Surprise piece of news! Market reverses – blows through your
stop – an “unexpected” loss.
Is something wrong with the system?
Has the overall market “personality” changed, affecting your
system to the core, rendering all your back-testing irrelevant?
Your confidence turns to doubt.
You decide to “watch” the next trade… I mean, isn’t it wise
to make sure the system gets back on track before you “throw
good money after bad?”
Isn’t that what a conservative trader does?
Trade watched. It wins!
In your head, you beat yourself up a little because you know
that when you started your “live” trading, you made an agreement
with yourself to take the first 10 trades “no matter what”…
and here you wimped-out and missed a big winner that would have
gotten you even.
What’s happening?!!
What’s happening is that you are out of control. Your emotions
are ruling your trading.
The above scenario plays out in every trader from time to time...
newbie and veteran alike.
The winning trader senses what is happening and nips it in the
bud. The winning trader spend time EVERY DAY, working on “the
discipline of trading”.
He/she reads a chapter in his/her favorite psychological trading
book, scans the “ten commandments of trading” that hangs on
the wall over his/her desk, listens to his/her mental training
software for traders…
Something… Every Day… before trading begins.
There are many more losing traders than winning traders… and
it’s seldom about the trading system.
In my career, I’ve come across at least 50 systems that I consider
A+, yet I know for a fact that MOST traders that have traded
these systems have lost. Why? They were not in control of their
emotions. Are you?
Chapter Addition By David Jenyns
The astute reader may have noticed this ebook has now gone full
circle. We began with “you and your mindset” and now we’re going
to finish with you and your mindset.
The reason for ending on “you and your mindset” this is simple,
to fully master your trading, you must master your emotions.
For many, this is a battle they will never win… or so I thought.
In fact, I used to be of the belief that you were either born
a trader or you weren’t. In my journey to make the most difficult
trading procedures simple, I discovered I was wrong.
It was Jake Bernstein, and his work on mental training for traders,
that help me see the errors in my thinking. Now I’m a little
skeptical when it comes to this area of trading because never
before have I seen a mental training executed to my liking.
Thanks to some of my clients who got me interested enough, I
began to dig a little deeper into Jake Bernstein’s TradingMind
Software.
What I have found is that Bernstien has created something so
exclusive it is a must-have for anybody who wants to maximize
their trading potential. His work truly is ground breaking and,
best of all, it’s simple!
All you have to do is pop his software on and let the software
do the rest. The only click you'll have to make is choosing
the mental training session you'd like to run. Then sit back
and relax. That's it!
Here’s just a few of the areas his training works on:
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Gain the strength to take your losses without wavering |
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Eliminate fear, doubt and hesitation |
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Avoid the dangers of over-confidence |
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Develop a winning mindset based on the mental/emotional rules
of a winning trader |
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Eliminate the emotions that can sabotage your success |
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Reverse bad habits and replace them with good ones |
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Live in the reality of your system and level your emotions |
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Establish clear, specific, time-based goals - then reach them! |
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Learn to maintain discipline |
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Reduce the stress associated with trading gains and losses |
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Visualize Success like a champion trader! |
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Travel your chosen path with confidence! |
When all is said and done, I hate to say it, but even after
following the Ultimate Trading Systems up to this point, some
people still don’t make it to the top 1% of traders who are
successful in the market. Why? Because they haven’t mastered
the most important aspect of trading… themselves.
Be one of the rare few who make it using Jake Bernstein's TradingMind
Software. Purchase it online by clicking here.
Let’s get your psychology right.
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