28/07/2018
Words of knowledge from the Master of PA.
MENTAL HABIT'S OF WINNERS;
1, The number one winning attribute of all traders is patience. Be patient and wait for your desired price action setup, don't ever enter just to be in a trade. Great traders often speak of being "neutral" or not in a position, as the most profitable trade setup there is.
2, Once a perfect setup is identified, a winning trader will act on it with discipline. He's not swayed by economic news, the media or any other influence. He trade the current market conditions and obeys the chart and Price action.
3, Trade the setup you see, believe what the market is telling you, trust your gut.
4, Never panic or become anxious in the face of missed trading opportunities. Remember the market will be open again tomorrow, and never fall into the trap of getting on every move. Avoid being Superman, you are only human! Humans are not perfect, nor is the market.
5, If the setup just doesn't feel right, and current price action signal is against the most obvious midterm trend, stay away. Try to be a trend follower not a hero who picks every tops and bottoms. Of course, there will be exception, but when starting, try to be a trend follower.
6, If you miss a setup, don't chase prices, most trends always retrace to some extent, and provide a secund opportunity to enter. Unless your super confident, I would avoid late entries, and wait for a second price signal.
Every morning I try to read through these laws before I open my laptop and to me, I hold law number 3 to heart as the number 1 law in my trading.
