Sunday, June 12, 2011

Comparison of my mindsets

Hey there,
After some mental work with myself results got a lot better. Below you can see few examples, with two different mindsets.
First one - greedy inconsistent looser, who wants to make lots of money, but can't wait for the right spot and who hates to think about risk, because he needs money! He desperately want to get in the winning streak without taking responsibility for making loosing trades. He blames markets for making him pain.
And second one - patient trader, who manage his trades consistently, no over trading, no rush, waiting for the right setup, he does not need money, the only desire for him is to make "right" decision, and he knows that in the end of the day he will make nice profits. He does not blame the markets after losing trades, he always take full responsibility for his actions.

Well these images of my results are self explaining.  Brett N. Steenbarger wrote in his "The Psychology of Trading"  book - "Examine your patterns: What were you doing wrong in the losing trades? What worked in the winning trades? Each of these patterns has a purpose: to teach you something about your trading, something about yourself. ... Traders will be able to trade by building on their successes, becoming more of who they already are at their best."

So my main goal is to keep the right mindset for long as possible, I need these thinking habits a lot! :) Its very easy to go back in the destructive old behavior patterns...

That's it for today, wish you good luck.

2 comments:

  1. well done mate, keep up the good work, looks like its paying off ;-)

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  2. Thanks MadGambler :) Yes, I believe I will have a consistent period :)

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