|
Home / Finance / Currency Trading
Traders Success and a Positive Mental Attitude
By:Bill McCready
Successful futures traders have a positive mental attitude, and maintain that positive attitude every single day they trade. It takes confidence in your abilities, confidence in your decisions, confidence in your charts and confidence in your system to succeed as a futures trader. Confidence hinges on your mental attitude.
If you think you can do it, you will.
"Your actions affect your attitude and your attitude drives your actions. It can indeed be powerful to get your actions and your attitude working consistently in the same direction."
I find these words from the Daily Motivator* of particular import to my life as a futures trader. More than anything else, your daily attitude affects your ability to perform successfully as a futures trader. If you stay positively focused, you will be able to assess your position with confidence and pull the trigger at the precise moment to ensure maximum profitability. If you allow negativity or self-doubt to eat away at your confidence, you will fail.
The Negativity Factor
Once negative thoughts creep into your thinking patterns, you start to second-guess your abilities, your decisions and your system. Pretty soon, you're making bad trades, you can't pull the trigger and things start crumbling around you. Without a positive attitude you cannot succeed as a futures trader. You will crash and burn before you complete the first lap.
Everyone has the occasional bad day. But whether it's a trading loss or a crisis in your personal life, you can't let feelings of negativity engulf you. You have to "shake it off," "get back on the horse, "get back in the game." Hackneyed though the sayings may be, they carry a large truth.
The only way to succeed is to refuse to allow yourself to be beaten down. You have to maintain faith in yourself and confidence in your ability to succeed. You have to stay positive.
Successful futures traders succeed because they have a positive mental attitude and believe in themselves and their system. It's not the other way around. We're not happy because we succeed. We succeed because we're happy. A positive attitude gets positive results.
Cultivating Success Through Attitude
There are many ways to renew your positive energy each day. I enjoy a brisk walk or run in the early morning. The exercise recharges my physical batteries and participating in the beginning of a fresh, new day revitalizes my spirit. Exercise, daily motivations and personal affirmations are all ways to recharge your positive energy before you tackle a new trading day.
Because different approaches work better than others, you'll need to experiment with and discover those activities that keep you positively motivated, and then make them a daily part of your life. The more positive energy you can maintain in your life, the better trader you'll be.
Why is a Positive Mental Attitude Essential?
Success as a futures trader is 90% attitude. Develop a positive mental attitude and your success will increase as your skills grow. A positive mental attitude will allow you to:
1. Focus on making profitable trades. Even if you have a losing streak, positive focus will allow you to turn things around and snap back into the profit zone.
2. Focus on profit-making goals. A positive focus will give you the strength and courage to persevere if the going gets tough.
In his Daily Motivator of December 22, 2007, Ralph Marston says:
"Whether it's through your actions or through your attitude, there's always a way to introduce a more affirmative perspective into your life. Stay focused on the positive possibilities and life will continue to grow more richly rewarding."
These are words to succeed by.
Digg
del.icio.us
Blink
Stumble
Spurl
Reddit
Netscape
Furl
Article keywords: futures traders, positive mental attitude, futures trading success, how to trade successfully
Article Source: http://www.articles2k.com
Bill McCready is a futures trader. His trading course, Futures Trading Secrets, has helped students all over the world improve their trading. To get 11 FREE futures trading lessons, a video, and free ebook, THE TRUTH ABOUT DAY TRADING, visit his website, FuturesTradingSecrets.com.
|
|
| Top Currency Trading Articles |
- 1). How To Spot Forex Fraud By : Willie Reynolds
As the popularity of Forex increases so do the number of scam artists attempting to cash in on the Forex gravy train. Since Forex involves trading money internationally, often over the Internet, a whole new breed of scams have come about. Ironically many of these scam artists are finding their marks through newspaper, television or other print media advertisements.
|
|
|
|
|
- 4). Why Forex is a great trade By : Mark Slattery
The Forex market seems to be one of the hottest markets right now.
Let’s take a look why
It takes small amount of capital to get going and you get leverage with it.
This is important because a lot of people entering the market are looking for ways to make money and not just to invest their spare cash.
Leverage means that you can use other people’s money to make your investment bigger.
|
- 5). Electronic Currency Exchange: Trading Digots for a profitable living By : Armand Mont
First of all, if you're just finding out about electronic currency exchange trading, then probably you're still asking "what in the world does this electronic currency business is", and most importantly, "how do I make money from it?"
Well, you are reading this at the right time, because electronic currency exchange is a business that is expanding and offering new ways to profit from it.
|
|
|
- 7). How Useful Are Charting Indicators? By : Erik Teh
Many Forex Traders have computerized charting software to help make trading decisions. There are many excellent indicators that can assist a trader- such as MACD, Relative Strength Index and Moving Average Lines, just to name a few.
Using indicators alone can reduce the probability of trading success. Why? Because the Forex market is driven by human emotion and charting software is a computerized program.
|
- 8). A Look Back At Forex Trading - 4/18/06 By : Eddie Yakubovich
Cable final broke through the super resistance at 1.7600 yesterday. Even though we had a losing trade last night, I have to say I am glad to see that tight range behind us. Maybe now we will see a few prolonged and definable trends.
|
|
|
- 10). Understanding What Influences Forex Prices By : Internet Wealth Mentor
This article will explain some of the differences between Technical Analysis and Fundamentals and explain a bit about each type of trading. Excerpts are taken from the best-selling book ‘Market Wizards’ where Jack Schwager interviews Ed Seykota and Bruce Kovner.
Ed is a trend trader (uses technical analysis) and also relies on hunches from 20 years of experience.
|
| New Currency Trading Articles |
|
|
- 2). What Is Forex Or The Forex Market? By : Ali Jamalan
The forex market is the largest financial market in the world, trading currencies against each other. This market has the potential for investment and trading for profit having great earning scopes in the trade. Access to this market has become commonplace for any individual who’d want to participate in contrast to the olden days when only large bank buildings could trade in the market.
|
|
|
|
|
|
|
- 6). Why Should You Trade Forex Market? By : Nofie Iman
Simply said, there are no other trading instrument comes even closely to forex market when it comes to liquidity, 24hr market environment and last but not the least, profit potential. Forex (currency) market is the largest (most liquid) financial market in the world, with an average daily volume of more than US$ 1.5 trillion, which is more than all of the global equity markets combined.
|
|
|
|
|
- 9). Word Cloud Sites Rock the Web! By : Cynthia Macy
If you have a business website that is for trading forex, commodities, stocks or options, etc., then you might be interested in a new advertising method that will send massive new traffic to your business sites and get you tons of valuable one-way back links to improve your page rank, all hands-free!
|
- 10). Introduction to the Forex Trading By : Nofie Iman
As you might know, the foreign exchange market is the largest financial market in the world. There are over $1.2 trillion changing hands every single day. Compare that to the $25 billion a day trading volume at the New York Stock Exchange. In fact, it is three times larger than all of the US Equity and Treasury markets combined together.
|
|
|
