Day Trading Stock Tip - Online Trading Daily Self Suggestions Part 1
ONLINE TRADING (STOCK
TRADING, FUTURES TRADING, OPTIONS TRADING, OR FOREX TRADING) DAILY
PSYCHOLOGY
SELF-SUGGESTIONS - PART 1
Online trading, whether it is day trading, swing trading, or other
styles can lead
a trader to many emotional
challenges. Most of a trader's "self-sabotage"
tendencies will appear in his or her trading if the trader does not
address these very
real emotional concerns. That is one of the main reasons why online
trading, currency trading, futures trading, stock trading or other
trading other assets has such a
high failure rate among individuals who attempt to trade.
Here are some suggestions of statements you can use to help you improve in your online trading. Feel free to use them, modify them, or simply use them as ideas for your own personal statements. If you feel the need to address deeper psychological concerns, especially when you are losing money in your online trading account, consider getting a trader's coach or other qualified individual to help you with your psychology. It can be worth the investment of your time and money depending on your specific circumstances.
- Leave my ego, problems, and fears at the door
- Review my methodology and recall positive trades when my trading felt effortless
- Only enter at good prices and levels
- Remember that I will adhere to the stops I set
- When the market is trending I may consider allowing for a little "wiggle room"
- When the market is uncertain I will take quicker profits
- Even if I have 5 consecutive non-winning trades, know that I will make it back over time -- even if I have to shut down my trading for the day
- Only trade when I have the odds in my favor
- Stay with a consistent mental state, whether I have been winning or losing
- Control those aspects of my trading (and my mind) for which only I am responsible
For more suggestions of statements you can use, go to Part 2 of this article
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