Say This Before And While In Every Trade To Gain The Mindset That Helps Create Consistency In Your Trading

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  • March 19, 2014

 

 

 

“I accept that this trade may not work this time & I may not be right. This trade could win or lose. I know my system will win in this block of 20 trades because I have tested it and I know the odds. Only by following all my rules, accepting I can win and lose and taking all the trades will I win overall. My system is based on identifying collective behaviour expressed in a mathematical form on a chart and is the sum of people buying and selling. Technical patterns do exist and they repeat themselves, but not every time. They work only a percentage of times. There is always evidence that my trade may not work this time and I accept this. To win net, I must take every one of my trades. If I think there isn’t evidence my trade will not work or I am only placing this trade because it is going to win, it means I am operating from a mindset I am right. This means if I think like this I have not accepted the risk of the trade and I am placing trades only thinking I am right. This sets me up to lose…. because when the trade does lose, I will be surprised it lost and then doubt my system and fail to execute. This will affect my decisions and I will pick and chose my valid trade set ups, causing me to miss trades. Thus in the future I am likely, like so many losing traders, to then look back on all the valid trade set ups and think, “If I took all the trades I would be up now.” To create consistency I have to know how to lose. To create consistency I have to accept losing. However everyone is looking at how to win and be right, and as a result they lose. The ones that focus on how to accept losing trades win consistently.”

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