Consistent Trader - Chapter 2
Market is dynamic. You cannot predict market will behave in a certain way. Market movement is based on probability and your trading reflects it. The price movement gives the information about the trend. From that we form perception/view about market. Our perception is the basis for the trading.
Changing the perception becomes a problem for some people. For example “Person A” has bullish view about the market before it opens. Market opened gap up and shows the sign of reversal. If “Person A” do not change his perception by understanding the reversal signs, he will lose money. Similarly changing the view often is also not good. If you change your view about the trend for each and every candle formation, then you won’t get clarity about market trend.
Now lets come to the important point. How to overcome it?
Have high probability trade set ups and trading strategies. Trade only when your trade set ups form. You will have more clarity and confidence when you follow the tested trade set ups and trading strategies.
Do you want to reduce the intermediate phase duration?
Avoid taking random trades. Always have a plan about handling market movements. Once the market opens, your emotions will be highlighted and at that time processing the information, planning the trade and deciding what to do becomes tough.
How you perceive the market with your trade setups and trading strategy decides your success.
(To be continued next week...)
Changing the perception becomes a problem for some people. For example “Person A” has bullish view about the market before it opens. Market opened gap up and shows the sign of reversal. If “Person A” do not change his perception by understanding the reversal signs, he will lose money. Similarly changing the view often is also not good. If you change your view about the trend for each and every candle formation, then you won’t get clarity about market trend.
Now lets come to the important point. How to overcome it?
Have high probability trade set ups and trading strategies. Trade only when your trade set ups form. You will have more clarity and confidence when you follow the tested trade set ups and trading strategies.
Do you want to reduce the intermediate phase duration?
Avoid taking random trades. Always have a plan about handling market movements. Once the market opens, your emotions will be highlighted and at that time processing the information, planning the trade and deciding what to do becomes tough.
How you perceive the market with your trade setups and trading strategy decides your success.
(To be continued next week...)
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